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The Global Compact

In 1999, at the World Economic Forum in Davos, Secretary General Kofi Annan proposed a "Global Compact" between the United Nations and businesses; the operational phase of the agreement was launched at the Headquarters of the UN in New York on 26^th July 2000.
The Global Compact is a frame of reference and dialogue, aimed to facilitate the convergence of social, economic and environmental practices within the private sector with universal values.
The Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, the environment, and anti-corruption:

10 principles 

The 10 principles apply to:

Human Rights

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

• 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

• 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

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

Anti-Corruption

• Principle 10: Businesses should work against all forms of corruption, including extortion and bribery