Introduction

The United Nations Global Compact gathers companies from all over the world around the commitment to respecting and complying with its principles towards a more sustainable and inclusive global economy. The Global Compact signatories include business organizations from varied cultures and from countries presenting different levels and models of economic and social development. Each of these countries has laws that set forth minimum parameters the companies must comply with as well as inspection mechanisms for compliance with such parameters and penalties for those trying to get away with behaving against the law. However, Global Compact signatory companies are expected to comply with the ten Principles even if the legal requirements of the countries in which they operate are lower than the commitments proposed by the pact.

The Global Compact Principles are guidelines for companies' responsible action. When we refer to ‘social responsibility’, it is important to make clear that we mean voluntary initiatives, adopted as a choice that goes beyond a legal obligation. After all, the social responsibility realm starts where legal requirements end and it is ruled by principles and values deemed fair and necessary. It is in this sphere that non-profit and non-governmental organizations (NGOs) act.

The Global Compact unites a significant number of NGOs under its umbrella. Currently, more than 75 global NGOs and almost 600 local NGOs from a variety of countries are participating in the initiative.