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The UN Global Compact: The Challenge and the Promise

In: Corporate Ethics and Corporate Governance

Author

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  • Oliver F. Williams

    (University of Notre Dame Center for Ethics)

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.

Suggested Citation

  • Oliver F. Williams, 2007. "The UN Global Compact: The Challenge and the Promise," Springer Books, in: Walther Ch Zimmerli & Markus Holzinger & Klaus Richter (ed.), Corporate Ethics and Corporate Governance, pages 287-308, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-70818-6_20
    DOI: 10.1007/978-3-540-70818-6_20
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    Cited by:

    1. Gor Samvel, 2018. "Seemingly Connected, Obviously Separate: The Parallel Realities of the UN Global Compact and the Multilateral Regimes in Water Governance," Laws, MDPI, vol. 7(4), pages 1-14, November.

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