The Global Compact is a UN initiative that presents ten general principles for CSR
The ten principles in the UN Global Compact are a good foundation for businesses in their work with CSR and sustainability. The principles are based on internationally recognised conventions on human rights, worker rights, the environment and combating corruption.
Any business may draw inspiration from the ten principles, but businesses may also choose to accede to the UN Global Compact. 237 Danish organisations and businesses have already done so (May 2011).
Businesses which accede to the Global Compact undertake to make the ten principles part of their business activities and report to the Global Compact on their efforts. Reporting requirements depend on the size of the business.
As can be seen above, these are general principles each business can adapt and translate into specific initiatives when incorporating CSR into their business strategy. Businesses may choose to focus their efforts on the principles that best match their core business.
A separate set of principles has been developed for investors – the Principles for Responsible Investment (PRI) which the United Nations support.
The UN principles have been broadly formulated and in no way prevent businesses from following other principles and standards, such as the OECD Guidelines for Multinational Enterprises, etc.