In 2004, Talal Abu-Ghazaleh Global (TAG.Global) embraced the Global Compact, a framework that allows businesses to align their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption. It represents the largest global sense of corporate citizenship with the participation of thousands of people from more than 100 countries. It is concerned first and foremost with demonstrating and attaining social legitimacy of companies who share the belief that business practices should be founded on universal principles to contribute to a more stable, equitable and inclusive global market which builds flourishing and prosperous communities. Moreover, the Global Compact initiative is purely voluntary in nature with two goals:
- Mainstreaming the 10 principles in business activities around the world
- Inspire motivation to support the broader United Nations Development goals, such as the UN Millennium Development Goals.
In pursuance of the above two goals, the Compact offers opportunities to learn and participate through several instruments, namely: dialogues on policy, learning, local networks and partnership initiatives.
The Global Compact of the United Nations requires companies to develop and enforce codes of conduct in the areas of human rights and standards relative to labor, environment and combating corruption. The 10 principles are:
Principle 1: Businesses should support the protection and respect of the internationally proclaimed human rights.
Principle 2: Businesses should make sure they are not complicit in human rights violations.
Principle 3: Businesses should uphold the freedom of association and effective recognition of the right to collective bargaining.
Principle 4: Businesses should ensure the elimination of all forms of forced and compulsory labor.
Principle 5: Businesses should ensure the actual abolition of child labor.
Principle 6: Businesses should ensure the elimination of discrimination in employment and occupation.
Principle 7: Businesses should encourage a precautionary approach to environmental challenges.
Principle 8: Businesses should undertake initiatives to expand the scope of responsibility towards the environment.
Principle 9: Businesses must encourage the development and dissemination of friendly-environment technologies.
Principle 10: Institutions need to combat corruption in all its forms, including extortion and bribery.
TAG.Global participated in the launch of the network in Egypt, Syria, Jordan and many other Arab countries in cooperation with the United Nations Development Program. HE Dr. Talal Abu-Ghazaleh has been chosen as Vice-
Chairman to the UN Secretary General Ban Ki-moon, Chairman of the Global Compact.