The Global Compact was launched by Secretary-General Kofi Annan at the World Economic Forum in Davos, Switzerland, in January 1999.

The Compact calls on companies to embrace ten universal principles in the areas of human rights, labor standards, environment and corruption. Furthermore, businesses are asked to enact these principles in their every day business practices and integrate them into their core business strategy.

The Global Compact is a learning network with participation and support from companies, business associations, trade unions, non-governmental organizations and UN bodies, who all share the aim of promoting Corporate Social Responsibility (CSR) and ethical business standards.

Companies, through their commitment to the universally agreed core values and through minimizing the negative impacts of their own business operations, can help ensure that globalization becomes a positive force in the world. As such the private sector is a vital partner in helping to achieve the Millennium Development Goals.

Up to this date more than 1700 companies have joined this free UN initiative around the globe, all of which are recognized and publicized on the corporate Global Compact website.
Companies who have shown excellence in promoting and integrating the nine principles into overall company strategy receive recognition through internationally recognized Best Practice Awards.

For more information on the Global Compact worldwide please visit: www.globalcompact.com.

UNDP is currently working on introducing the Global Compact in Georgia, for more information call UNDP Georgia at (995 32) 25 11 26/28/29 or fax (995 32) 25 02 71/72.