Global Compact: A Critique Of The U.N.\u27s Public-Private Partnership For Promoting Corporate Citizenship

this article aims to critically evaluate the evolution of, and the progress made by, the Global Compact in making participant corporations embrace, support and enact the ten Compact principles. Part I offers insights into the evolution of the Global Compact by critically reviewing the major milestones reached in the last seven years - from the backing of U .N. General Assembly resolutions to the integrity measures, the Shanghai Declaration, the principles for responsible investment, and the new governance framework. Part II elaborates the argument why the Global Compact is still too compact to be termed global in the true sense. The compactness of the Compact is highlighted with reference to two aspects: the general and limited scope of its ten principles and the extent of (non)response as well as (non)seriousness shown by corporations towards the Compact . Part III examines some major deficiencies of the Global Compact which seriously undermine its efficacy, e.g., directional uncertainty, lack of enforcement and independent monitoring, potential for misuse as a marketing tool, and amorphous role of states. Part IV sums up the finding of this article and also outlines some challenges that the Compact Office should try to overcome in order to secure the future of this public-private partnership for corporate citizenship