The Global Compact | Print |

Speaking to the World Economic Forum on January 31, 1999, former UN Secretary-General Kofi Annan challenged business leaders to join an international initiative called the Global Compact. The aim would be to bring companies together with UN agencies, labour and civil society to support universal environmental and social principles.

The Global Compact’s operational phase was launched at UN Headquarters in New York on July26, 2000. Through the power of collective action, the Global Compact seeks to promote responsible corporate citizenship so that business can be part of the solution to the challenges of globalisation. In this way, the private sector in partnership with other social actors can help realize the vision of a more sustainable and inclusive global economy.

On November 26, 2006, CIBJO, The World Jewellery Confederation, formally joined as a participant in the Global Compact.

 

The Global Compact calls for the realization of ten principles in the business community. They are:

HUMAN RIGHTS

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and

Principle 2: make sure that they are not complicit in human rights abuses.

LABOUR STANDARDS

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

Principle 4: the elimination of all forms of forced and compulsory labour;

Principle 5: the effective abolition of child labour; and

Principle 6: the elimination of discrimination in respect of employment and occupation.

ENVIRONMENT

Principle 7: Businesses should support a precautionary approach to environmental challenges;

Principle 8: undertake initiatives to promote greater environmental responsibility; and

Principle 9: encourage the development and diffusion of environmentally friendly technologies.

ANTI-CORRUPTION

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.