Discuss the UN Global Compact, a strategic policy initiative in the areas of human rights, labour, environment and anti-corruption. How can companies align with these principles ?

The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. Corporate sustainability starts with a company's value system and a principled approach to doing business. This means operating in ways that meet fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption. Responsible businesses enact the same values and principles wherever they have a presence. Trade and industry is an integral part of human society and has a pivotal role to play in this direction. The Global Compact is a policy framework for the development, implementation, and disclosure of sustainability principles and practices designed to establish sustainable business models and markets building, inclusive of global economy. Companies can align with the UN Global Compact's Ten Principles by incorporating those principles into strategies, policies and procedures, and establishing a culture of integrity. The initiative is voluntary in nature. Some measures to align with these principles are: Adopting an established and globally recognized policy framework for the development, implementation, and disclosing environmental, social, and governance policies and practices. Sharing best and emerging practices to advance practical solutions and strategies to common challenges. Advancing sustainability solutions in partnership with a range of stakeholders, including UN agencies, governments, civil society, labour, and other non-business interests. Linking business units and subsidiaries across the value chain with the Global Compact's Local Networks around the world – many of these are operating in developing and emerging markets. Accessing the United Nations' extensive knowledge of and experience with sustainability and development issues. Utilizing UN Global Compact management tools and resources, and the opportunity to engage in specialized work streams in the environmental, social and governance realms.