Companies participating in UN Global Compact double to more than 1,000

The number of companies worldwide participating in the United Nations Global Compact, Secretary-General Kofi Annan's initiative to advance good corporate citizenship and responsible globalization, doubled to more than 1,000 over the past year, according to its latest annual report released today.

Working with international labour and civil society the companies seek to advance principles in the areas of human rights, labour standards and concern for the environment.

"The idea of a Global Compact, first articulated in a speech by Secretary-General Kofi Annan in January 1999, is today very much alive", Georg Kell, Executive Head of the Global Compact, said at a press conference at UN Headquarters in New York launching the report.

"From its inception, the Global Compact has operated on the premise that finding solutions to make markets more sustainable and inclusive can only be achieved if societal actors learn how to work effectively together," he added.

The report notes that apart from the increase in participating companies, the Compact was launched in 14 more countries, bringing the total to 53. At the same time, global labour increased its involvement, and by year-end more than 20 civil society organizations were engaged at the global level, with many more at the local.

It also states that a number of major policy dialogues were convened - involving hundreds of participants from business, labour and civil society on topics including Business and Sustainable Development, HIV/AIDS, Supply Chain Management, and Partnerships.

An initiative to grow sustainable business in the world's least developed countries was launched and tangible action was taken in Ethiopia, with activities planned for Madagascar, Angola, Bangladesh and Cambodia, it adds.

"While these are promising developments, the Global Compact remains an ambitious experiment in the possibilities of multi-stakeholder cooperation," Mr. Kell said. "The Global Compact must strive to ensure that its principles are translated into practices and actions that ultimately make a difference in the lives of the poor."