The UN Global Compact: The Challenge and the Promise

Oliver F. Williams
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Oliver F. Williams: University of Notre Dame Center for Ethics

A chapter in Corporate Ethics and Corporate Governance, 2007, pp 287-308 from Springer

Abstract: Abstract The United Nations Global Compact is a new initiative intended to increase and to diffuse the benefits of global economic development through voluntary corporate policies and actions. Kofi Annan, secretary-general of the United Nations, addressing the Davos World Economic Forum in January 1999, challenged business leaders to join a “global compact of shared values and principles” and to provide globalization a human face. Annan argued that shared values provide a stable environment for a world market and that without these explicit values business could expect backlashes from protectionism, populism, fanaticism and terrorism.’ Following the 1999 Davos meeting, Annan and a group of business leaders formulated nine principles, which have come to be known as the UN Global Compact. After lengthy consultation, a tenth principle against corruption was added in June 2004.

Keywords: Business Ethic; Corporate Citizen; Global Reporting Initiative; Global Compact; Societal Expectation (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/978-3-540-70818-6_20

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