The United Nations Global Compact is a paramount initiative that was established in 2000 as a voluntary platform for businesses worldwide to adopt socially responsible and sustainable practices. The UN Global Compact urges companies to align their operations and strategies with ten universal principles ranging from International Human Rights to environmental protection. These principles have been drawn from global initiatives such as the Universal Declaration of Human Rights, the Rio Declaration on Environment and Development, and the United Nations Convention against Corruption.

The goal of the Global Compact is to facilitate the adoption of sustainable business principles and reduce inequality, poverty, and other forms of social injustice. Companies that sign the Global Compact are required to report annually about the organization's pro-sustainability efforts, making sure that these initiatives are coherent with the set of principles.

By being part of the Global Compact, a company is committing to making efforts in meeting international standards and goals. These standards are not only related to human rights, labor and the environment, but also include principles such as promoting anti-corruption, consumer protection, and transparency in corporate governance. Companies further commit to striving for continuous improvement in their responsible workplace practices and objectives.

Organizations that implement the UN Global Compact principles are not only expected to comply with applicable laws and regulations, but also to achieve social and environmental accountability. Global Compact members have the opportunity to join a global platform to engage in dialog with peers, politicians, and NGOs as well as access relevant resources to help them on their journey towards responsible and sustainable business.

It is important to note that the Global Compact encourages companies to take action, as commitments around social and environmental objectives are only meaningful if accompanied by effective, tangible actions that can have an impact on society and the environment. Additionally, the Global Compact encourages businesses to interact, collaborate and express the business contribution to global goals.

The United Nations Global Compact is a unique platform for businesses to come together and commit to positive social change. By embracing this Compact, businesses can not only expand their reach but also create meaningful impact and a positive legacy for generations to come.