Introduction

The special value of the Global Compact at its inception was its engagement with major actors, its Principles, its association with the United Nations and its commitment to operate through dialogue. It engaged business with the United Nations. Its principles were rooted in universal and legitimate international standards. And it was to be ‘driven’ by dialogue. It was, in particular, that aspect of the Global Compact that resulted in the decision of the international trade union movement to participate.

This chapter will explore the rationale for the original trade union involvement in the initiative. It will also examine the risk, present from the beginning, that the Compact could be derailed and lose its direction and become a ‘super-Corporate Social Responsibility (CSR)’ initiative, a sort of ‘feel-good’ drug for large companies. Most importantly, it looks at the potential which the Global Compact still has to add balance to globalization. The 2008 economic crisis is the culmination of decades of mistaken policies and actions. The Global Compact, like financial and economic decision-making, needs to be examined critically if we are not to exit the crisis with ‘business as usual’. The involvement of private parties in dialogue remains an essential component for a sound and prosperous economy, for respect for rights, for social justice and for a healthy environment. The Global Compact must renew its original promise if it is to contribute to the fundamental changes that must be made if we are to shift direction and move more towards sustainable development.