At the Global Compact Summit, Ban Ki-moon emphasized that businesses can achieve profits and fulfill social responsibilities simultaneously

June 24, 2010

The third Global Compact Summit was held on June 24 in New York, with the participation of 1,200 business leaders and representatives from civil society from around the world. Over the course of two days, they discussed the social responsibilities that businesses and corporations should undertake. Secretary-General Ban Ki-moon attended the summit and delivered a speech.

Secretary-General Ban Ki-moon, speaking at the Global Compact Summit, noted that in the ten years since its inception, the Global Compact has grown to become the largest and most ambitious initiative advocating corporate social responsibility in the world. He pointed out during a press conference at the summit that no other corporate responsibility initiative is as global and inclusive as the "Global Compact." The significance of the Global Compact lies not in the growth of its numbers, but in the vision of its participants: the practice has demonstrated that principles and profits can be achieved simultaneously.

Ban Ki-moon stated, "This morning, I called on the global business community to strengthen its commitment to corporate social responsibility... I urge the business community to do more in upholding human rights and labor rights, protecting the environment, and combating corruption. These issues are increasingly becoming forefront and central issues. The business community can and should be part of the solution."

At the World Summit for Social Development in 1995, former Secretary-General Annan proposed the concept of a "social compact," which later evolved into the "Global Compact." In January 1999, at the annual meeting of the World Economic Forum in Davos, Annan introduced the "Global Compact" initiative, which was officially launched in July 2000 at United Nations headquarters. The "Global Compact" initiative calls on companies to adhere to ten fundamental principles in the areas of human rights, labor standards, the environment, and anti-corruption. It advocates for compliance with commonly valued standards and the implementation of a necessary set of social rules, collectively known as the "Global Compact."

Article reprinted from:https://news.un.org/zh/story/2015/06/238352