Global Compact chief rings opening bell at NASDAQ

The head of the United Nations initiative aimed at promoting responsible corporate citizenship brought its message to one of the centres of capitalism today, by ringing the opening bell at the NASDAQ market in New York.

In remarks before the opening, George Kell, Executive Head of the UN Global Compact (UNGC), a network of companies which promise to adhere to specific human rights, labour and environmental principles, said that UNGC members believe that "good corporate citizenship is good business."

"For global markets to functions smoothly there must be shared values, so that confidence and trust between markets and society can be achieved and this is precisely what the UN GC is all about," Mr. Kell said.

"We are very pleased that several companies listed on NASDAQ are participating in UNGC. What makes them different from the many others is that they do believe that good corporate citizenship is good business, that taking a proactive stand on social and environmental issues makes good business sense, protects image, opens new opportunities and makes business part of the solution," he added.

"I very much hope that more companies will embrace UNGC so that together we can build more open stable and inclusive markets, the only hope we have to tackle issues such as poverty."

UN Secretary-General Kofi Annan launched the Global Compact in the summer of 2000 with some of the world's largest corporations. 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.

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