Global Compact seeks solutions to society’s ills, Annan says

The United Nations Global Compact for international businesses seeks solutions to societal problems, while ensuring that markets remain open and globalization works for everyone, Secretary-General Kofi Annan said today.

Mr. Annan, who launched the Global Compact in the summer of 2000 with some of the world’s largest corporations, was addressing the United States Council for International Business as its members honoured the chairman and chief executive officer of chemical giant DuPont, Charles “Chad” Holliday, Jr.

The Compact calls on corporations, large and small, in any country, to observe the four declarations of the International Labour Organization upholding corporate responsibility and five other principles involving the environment and human rights.

“The Compact seeks to enlist leaders, such as yourselves, and their counterparts in the labour, human rights and environmental movements in an effort to promote corporate citizenship. It is based on well-established international principles. And it has been embraced by hundreds of participants from within and beyond the business community,” Mr. Annan said.

Mr. Holliday, a great supporter of the Compact, had recognized that corporations needed to be seen as part of the solution to global problems, rather than obstacles to progress, and that leadership was essential on the path of enlightened self-interest, the Secretary-General said.

“The United Nations occupies a unique place in today’s world. I hope you will recognize its value, deepen your involvement and help us succeed in our global mission of peace and development,” he added.