(Istanbul) – The Global Compact’s contribution to advancing corporate responsibility was at the core of a recent global conference held by the Yale World Fellows Programme.
Business executives, policy makers and academics at the Istanbul event discussed current practices in responsible business, lessons learned and a way forward for the next generation of business leaders. The keynote address was delivered by Howard Dean, former Chairman of the Democratic National Committee (USA).
Overall, it was noted that the integration of the Global Compact’s ten principles occurs in various manners and degrees. Some of the businesses present at the event described the Global Compact as a main driver of change, while others explained that it has been a complement to their corporate responsibility efforts.
By taking stock of the first decade of the Global Compact, participants stressed the importance of low entry barriers, reporting requirements and the need for an auditing system. They proposed that moving ahead efforts will need to be scaled up and consolidated; in addition, participants remarked that the Global Compact brand should be improved.
United Nations Development Programme