The UN Global Compact incorporates a transparency and accountability policy known as the Communication on Progress (COP). Explain and describe its direct benefits to companies.

UN Global Compact incorporates a transparency and accountability policy known as the Communication on Progress (COP). The Communication on Progress (COP) is an annual disclosure to stakeholders on progress made in implementing the ten principles of the UN Global Compact in the areas of human rights, labour, environment and anti-corruption, and in supporting broader UN development goals. The COP is posted on the Global Compact website by business participants. Failure to issue a COP will change a participant's status to non-communicating and can eventually lead to the expulsion of the participant. Direct benefits of participation include: Global and local opportunities to dialogue and collaborate with other businesses, NGOs, labour, and governments on critical issues. Exchange of experiences and good practices inspiring practical solutions and strategies to challenging problems. Finding an entry-point through which companies can access the UN's broad knowledge of development issues. Leveraging the UN's global reach and convening power with governments, business, civil society and other stakeholders.