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The Political and Social Aspect of Business of The UN Global Compact - Essay Example

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This essay describes the political and Social Aspect of Business of the UN global compact. Also, it discusses the UN Global Compact which is a grandiose opportunity for corporations to polish their damaged image, and analyses the pros and cons this process…
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The Political and Social Aspect of Business of The UN Global Compact
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Download file to see previous pages The UN Global Compact (GC) is voluntary and the underlying objective is stated to be the introduction of social responsibility into international business and the code embodies ten core principles.In essence, the UN GC is a voluntary corporate citizenship network geared towards the mainstreaming business activity ethics worldwide and fuelling the preservation of UN human rights’ objectives within the international business framework (Macintosh et al, 2004 at p.11). Slaughter further observes the UN objectives in the GC in attempting to harmonize consistency in corporate social responsibility measures among UN organizations, international labor organizations, and NGOs to assist the creation of a “more inclusive and equitable marketplace,” (Slaughter, 2004: p.192).However, the GC does not impose sanctions or implement an enforcement framework and prima facie provides a system for facilitation and is not a regulatory instrument. Indeed, Macintosh et al highlight the fact that “the Global Compact relies on public accountability, transparency and the enlightened self-interest of companies ……in pursuing the principles upon which the Global Compact is based” (Macintosh et al, 2004 p.11).In the absence of any regulatory code, Slaughter further refers to the UN’s assertion of information sharing requirements and the chief architect of the GC’s declaration that “the core of its change model is a learning forum. Companies submit case studies of what they have done to translate their commitment to the GC principles into concrete corporate practices” (Slaughter, 2004 at p.11) As such, there is an assumption that information sharing and self-regulation will facilitate human rights compliance. ...Download file to see next pagesRead More
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