GLOBAL COMPACT - THE TEN PRINCIPLES

At the World Economic Forum, Davos, on 31st January 1999, UN Secretary-General Kofi A. Annan challenged world business leaders to “embrace and enact” the Global Compact, both in their individual corporate practices and by supporting appropriate public policies. These principles cover topics in human rights, labour and environment:

The Secretary-General asked world business to:
Principle 1:
support and respect the protection of international human rights within their sphere of influence; and

Principle 2:
make sure their own corporations are not complicit in human rights abuses.

The Secretary-General asked world business to uphold;

Principle 3:
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.

The Secretary-General asked world business to:

Principle 7:
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.

Principle 10:
business should work against all forms of corruption, including extortion and bribery.