As business interests increasingly overlap with societal interests and development objectives, responsible business practices and cross-sector partnerships play a more important role than ever before. To foster a more inclusive and stable global market, the active engagement of businesses will be critical.
At the same time, responsible business practices not only contribute to the well-being of stakeholders, they have increasingly become a longterm value proposition for business itself. It makes business sense for companies to invest in creating a sound environment in which to do business, to minimize risks and to harness new business opportunities by supporting developing and emerging markets.
Engaging in the Global Compact and implementing the principles can help companies to:
- improve organizational integration of environmental, social and governance issues.
- address the company’s expanded business opportunities and risks.
- improve operational efficiencies.
- access the experiences and good practices of peers.
- acquire practical know-how.
- attract, motivate and retain employees.
- increase trust in the company and renew the its license to operate.
- improve corporate reputation and brand image.
- engage in a proactive and constructive dialogue with civil society and other stakeholders.
- strengthen stakeholder relations, both globally and locally.
- establish better links with the United Nations.
- take a leadership role on critical issues.
- network with other organizations.
- respond to financial market expectations and improve access to capital.
Last update: 2009-10-26