Global Compact Summit: Leaders boost momentum for change

Date: 6 Jul 2007

The Global Compact Leaders Summit has seen a range of initiatives and pledges aimed at boosting the momentum behind responsible business practice worldwide.

At the Summit, executives of corporations including Coca-Cola, Petrobras, Fuji Xerox, China Ocean Shipping Group and Tata Steel adopted a 21-point Declaration, which spells out concrete actions for business, governments and United Nations Global Compact participants.

The event also saw a raft of other initiatives launched.

The 'Caring for Climate' initiative saw CEOs of 150 companies worldwide, including 30 from the Fortune Global 500, committing to speed up action on climage change and calling on governments to agree post-Kyoto action as soon as possible.

'The CEO Water Mandate' brought together the CEOs of Coca Cola, Levi Strauss, Läckeby Water Group, Nestlé, SABMiller and Suez to urge businesses to take immediate action to address the global water crisis. They launched “The CEO Water Mandate”, a project designed to help companies to better manage water use in their operations and throughout their supply chains.

Also launched at the Summit, the “Principles for Responsible Investment” seek to disseminate the tenets of corporate citizenship among capital markets. The “Principles for Responsible Management Education” seek to take the case for universal values and business into business schools around the world.

UN Secretary-General Ban-ki Moon told participants that “through several groundbreaking reports, you have made it abundantly clear that market leadership and sustainability leadership go hand-in-hand. This will help us build the supportive measures needed to create more sustainable markets. And it will ultimately help improve the lives of many people around the world.”

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