With these twin and complementary objectives in mind,the Global Compact has shaped an initiative that provides collaborative solutions to the most fundamental challenges facing both business and society.

The Global Compact seeks to combine the best properties of the UN, such as moral authority the convening power,with the private sector's solution-finding strengths,and the expertise and capacities of a range of key stakeholders.

The initiative is global and local;private and public,voluntary yet accountable.The Global Compact has a unique constellation of participants and stakeholders bringing companies together with governments ,civil society,labour the United Nations,and other key interest.

The benefits of engagement include the following:

• Adopting an established and globally recognized policy framework for the development,implementation and disclosure of environmental,social and governance policies and practices.
• Sharing best and emerging practices to advance practical solutions and strategies to common challenges.
• Advancing sustainability solutions in partnership with a range of stakeholders,including UN agencies,governments,civil society ,labour, and other non-business interests.
• Linking business units and subsidiaries across the value chain with the Global Compact's Local Networks around the world-many of these in developing and emerging markets.
• Accessing the United Nation's extensive knowledge of and experience with sustainability and development issues.
• Utilizing UN Global Compact management tools and resources and the opportunity to engage in specialized workstreams in the environmental ,social and governance realms.

TEN PRINCIPLES

The UN Compact's ten principles in the areas of human rights labour ,the environment and anti-corruption are derived from:

• The Universal Declaration of Human Rights.
• The International Labour Organization's Declaration on the Fundamental Principles and Rights at Work.
• The Rio Declaration on Environment and Development .The United Nations Convention Against Corruption.

HUMAN RIGHTS

• Principle 1: Business should support and respect the protection of the internationally proclaimed human rights; and
• Principle 2:make sure that they are not complicit in human rights abuses. LABOUR STANDARDS
• Principle 3:Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
• Principle 4: The elimination of all the forms of forced and compulsory labour;
• Principle 5: The effective abolition of child labour; and
• Principle 6:The elimination of discrimination in respect of employment and occupation.

ENVIRONMENT

• Principle 7: Businesses should support a precautionary approach to environment challenges;
• Principle 8: Undertake initiatives to promote greater environmental responsibility; and
• Principle 9: Encourage the development and diffusion of environmentally friendly technologies.

ANTI-CORRUPTION

• Principle 10: Businesses should work against corruption in all its forms including extortion and bribery.

        In summary,the global compact exists to assist the private sector in the management of increasingly complex risks and opportunities in the environmental,social and governance realms. By partnering with the companies in this way,leveraging the expertise and capacities of a range of other stakeholders,the global compact seeks to embed markets and societies with universal principles and values for the benefit of all.

        ARTDO International Vice President and current member of the ARTDO Board of Advisors Les Pickett is our designated representative with UN Global Compact. Les has worked with UN agencies and is a former Senior Advisor and Deputy Director of the United Nations System Staff College.
Les can be contacted at:
lespickett@asiapacificcentre.com