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. By doing so, business, as a primary driver of globalization, can help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere. The UN Global Compact presents a unique and powerful platform for participants to advance their commitments to sustainability and corporate citizenship. With over 10,000 corporate participants and other stakeholders from over 130 countries, it is the largest voluntary corporate responsibility initiative in the world. UN Global Compact incorporates a transparency and accountability policy known as the Communication on Progress (COP). COP is a report to inform the company's stakeholders about the company's progress in implementing the Global Compact's ten principles. The purpose of the COP is both to ensure and deepen the commitment of Global Compact participants and to safeguard the integrity of the initiative. Joining the Global Compact is a widely visible commitment to the ten principles. A company that signs-on to the Global Compact specifically commits itself to: set in motion changes to business operations so that the Global Compact and its principles become part of management, strategy, culture, and day-to-day operations; publish in its annual report or similar public corporate report (e.g. sustainability report) a description of the ways in which it is supporting the Global Compact and its principles (Communication on Progress), publicly advocate the Global Compact and its principles via communications vehicles such as press releases, speeches, etc.