The Global Compact was launched by Secretary-General Kofi Annan at the World Economic Forum in Davos, Switzerland, in January 1999. The Compact calls on companies to embrace ten universal principles in the areas of human rights, labor standards, environment and anti - corruption to be integrated into companies’ core business strategy and in every day business practices.

The Global Compact is a platform for learning and dialogue with the active participation and support from companies, UN bodies, business associations, NGOs and trade unions in promoting Corporate Social Responsibility (CSR) and ethical business standards. Companies through their commitment to the universally agreed core values and through minimizing the negative impacts of their own business operations can help ensure that globalisation becomes a positive force in the world. As such the private sector is a vital partner in helping to achieve the Millennium Development Goals.

Internationally, the Global Compact unites on a voluntary basis nearly 3000 companies, business associations, non governmental organizations from 80 countries all over the world in an open mode for best practice exchange and partnership building, all of which are recognized and publicized on the corporate UN Global Compact web site.