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The United Nations Global Compact initiative is presented for businesses and nonbusiness as a universally accepted set of principles. The aim of the 10 principles in the areas of Human Rights, Labor, Environment, and Anticorruption is to encourage businesses to align their operations and strategies with committed values. The Global Compact network involves not only companies but also governments, labor, and civil society organizations. Corporations, community, and environment are integral parts of a system that correlate to each other. In light of the assumption that business operations have increasingly observable effects on the environment, economy, and social life on a global scale, it is necessary to have accountable and sustainable firms. The Global Compact is a voluntary strategic policy initiative, and it has become more important in where interactions between organizations and stakeholders to be more dynamic. On the other hand, sustainability has economic, social, and environmental dimensions, and in accordance with these dimensions, it is necessary for firms to take into account the influence of their operations on their stakeholders. Thereby, from theoretical perspectives, the primary objective of this chapter is to illustrate the role of Global Compact in corporate accountability and sustainability.

An extensive literature research is conducted in order to understand the relationship between Global Compact principles and corporate accountability and sustainability.

From a theoretical point of view, there are some conditions for the advancement of the corporate accountability and sustainability. For instance, there is need for stakeholders’ insistence about incorporating social and environmental values into the business economic decisions. Thus firms could contribute to not only worlds’ economic but also social as well as environmental future.

The research is a theoretical study, but for further studies, empirical studies can be conducted to understand the interactions between Global Compact principles and corporate accountability and sustainability.

This study may be useful for managers to realize the role of Global Compact principles on corporate accountability and its contribution to being a sustainable firm.

There is a lack of studies that analyze the role of Global Compact principles on corporate accountability and sustainability. Examining the principles in light of corporate accountability and sustainability will add a value to the literature in this area.

This chapter examines roles and challenges for corporations in addressing Post 2015 world development objectives. Specifically it does review the contributions and opportunities of the principles of the Global Compact and other social responsibility initiatives for embedding corporate contribution to sustainable markets and societal development.

The results presented in this chapter are based on analysis of secondary sources and a literature review to determine conceptual and theoretical frameworks for identifying assumptions and challenges of corporate sustainability in the Post 2015 era.

It was found that although there are neither academic nor activist definitive consensuses regarding positive impacts of adopting the UN Global Compact principles for sustainability, the impacts of committed corporations, organisations and association are multiplying societal understanding of the implications in societies, governments and markets of violating human and labour rights, degrading and not protecting the environment, and having corruption.

This chapter could be used as teaching material for undergraduate and master courses of corporate social responsibility, business ethics, sustainability, operations management and strategy.

This chapter discusses firms’ responsibilities regarding world development objectives in a Post 2015 world.

This chapter discusses how businesses can create alignment between their corporate sustainability (CS) efforts that focus on the triple bottom line of the financial, environmental, and social, and the 10 principles of the UN Global Compact in the four core areas of environment, human rights, labor standards, and anticorruption.

Based on the literature review, the relationship between CS and corporate responsibility is presented. Creating alignment between CS management and Global Compact initiatives requires knowledge of the Global Reporting Initiative (G4-GRI), third-party CS rankings, green supply chain management, and anticorruption strategies.

UN Global Compact is an international forum to promote and self-report CS and corporate social responsibility [Bitanga & Bridwell, 2010. CS is achieved through a triple bottom line – financial, environmental, and social (Hutchins & Sutherland, 2008). For CS management, businesses use four strategies including defensive, cost-benefit, strategic, and innovation/learning [Buchholtz & Carroll, 2008; Egbeleke, Journal of Management and Sustainability, 4(2), 92–105 (2014); Epstein, 2008; Epstein, Buhovac, & Yuthas, 2010]. The UN G4-GRI is the most widely used comprehensive sustainability reporting standard in the world (G4-GRI, 2013). Third-party, industry sector-specific CS ratings reinforce the self-reported sustainability reports. Each firm has to conduct their own CS cost-benefit analysis to determine how CS practices can lead to value creation for sustained competitive advantage. Creating alignment with Global Compact initiatives offers firms a marketing advantage. Conducting business in accordance with the Global Compact is a value-increasing business strategy [Kaspereit & Lopatta, 2011; Lopatta & Kaspereit, 2014; Michelon, Corporate Reputation Review, 14(2), 79–96 (2011)]. Green supply chain management is essential for CS (Penfield, 2014). Four prevailing anticorruption frameworks or intervention policy approaches include law enforcement, economics, moralism, and cultural relativism (Bellows, 2013). There is little sustainability reporting in the government and public-sector organizations (Adams, Muir, & Hoque, 2014).

It is difficult to quantify the financial and social benefits of aligning the CS efforts with the 10 principles of UN Global Compact [Parisi, Journal of Management and Governance, 17(1), 71–97 (2013); Nilipour & Nilipour, Interdisciplinary Journal of Contemporary Research in Business, 3(9), 1084–1092 (2012)]. The environmental impact can be easily quantified.

As the primary driver of globalization, businesses and other organizations can help ensure that markets, commerce, technology, and finance advance in ways that benefit environment, economies, and societies in both developed and developing countries leading to sustained development.

The role of green supply chain management and anticorruption strategies in CS management is explored.

Recent research has emphasized the need for engaging non-financial companies in combating money laundering for the efforts to be efficient and effective. To incentivize engagement, several options are available, such as regulation, voluntary disclosure or commitment to international principles such as the United Nations (UN) Global Compact. The purpose of this paper is to analyze how anti-money laundering fits the aim of the UN Global compact and how anti-money laundering can support the other principles of the UN Global Compact. Furthermore, this paper addresses the necessity to include anti-money laundering in the core principles to reach the overall goal of sustainability by the UN Global Compact. Such an inclusion will incentivize the signatories of the UN Global Compact to include anti-money laundering as a part of their social responsibilities, helping the financial sector in combating money laundering.

The methodology of this paper is a functional approach to law and economics. It seeks to enhance the efficiency of the regulatory framework combating money laundering by including economic incentive theory and addressing new areas of law.

The paper finds a strong relationship between the UN Global Compact and anti-money laundering. Furthermore, it is concluded that it is necessary to include anti-money laundering as a core principle in the UN Global Compact if the Global Compact is to be efficient and effective in terms of its sustainability goals. The reason being that money laundering to a great extent supplies operational finances to the illegitimate sector related to core issues of the UN Global Compact such as human trafficking, child labor and corruption.

The paper identifies a significant missing element with regard to the core principles of the UN Global Compact. Although most research within anti-money laundering concerns the financial sector and thereby does not address the UN Global Compact, the focus of this paper is the link between anti-money laundering and the UN Global Compact. Furthermore, most research related to the UN global compact does not connect the core principles to the illegal financing of the businesses contradicting the principles. This paper addresses both of the neglected areas and combines them to improve the overall combating of money laundering while supporting the UN Global Compact sustainability goal.

The changing nature of the interaction between multilateral institutions and the private sector, such as the one extended by the United Nations (UN) through the Global Compact, has raised profound questions about authority and legitimacy in international relations. This paper seeks to provide the criteria for fairly assessing corporate citizenship initiatives as these form an integral part of the changing nature of corporate governance.

This paper uses the Global Compact's 2007 annual review as a point of reference and critical evaluation. The paper refers to the gap found among participants and their inability to answer to the relevant questions of corporate social responsibility (CSR) as originally set forth by the UN.

There has been a substantial increase in both scale and impact by this type of private sector initiative: a 50‐fold growth in just seven years – unlike any other international collaborative partnership. Based on the assessment, the ongoing question regarding its legitimacy, its operationality and efficiency for improving global governance still remains a challenge at large.

Empirical research on the impact, accountability, challenges and successes of the Global Compact is limited. The aim of this study is to progress understanding of both the limitations on, and opportunities for, the role of business in global governance when CSR is used as an international tool for community involvement. To this end, in addition to a critique of the UNGC's self‐assessment, the paper proposes a researcher's model for assessing corporate citizenship initiatives.

The chapter aims to clarify the relationship between corporate governance structure and corporate subscription to Global Compact standards. Part one of the chapter looks at the relationship between different models of board governance and active Global Compact participation by publicly listed companies. Part two of the chapter examines a number of external mechanisms aimed at bringing corporate behavior in line with Global Compact principles, and argues that there is a mutually reinforcing relationship between internal governance structures and external provisions aimed at influencing corporate behavior.

Part one of the chapter uses an independent T-test to compare the average (mean) proportion of publicly listed companies from unitary board countries with an active Global Compact Communication on Progress status with the average proportion of publicly listed companies from two-tier/hybrid corporate governance systems listed as active Global Compact participants. Part two of the chapter uses primary and secondary sources to examine external mechanisms operating across national borders aimed at influencing corporate behavior.

The chapter finds that a higher proportion of public companies from countries with two-tier/hybrid corporate governance structures have become active Global Compact participants compared to public companies from legal systems with unitary board corporate governance structures. Part two of the chapter examines the potentially mutually reinforcing relationship between internal governance structures and external mechanisms for modifying corporate behavior.

While external codes and standards such as the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises appear to be influencing corporate behavior worldwide, quantitative data confirming and recording the extent and nature of this influence (if any) remains limited.

The chapter provides useful insights for policy makers and corporate leaders into the relationship between internal corporate governance structures and external codes, standards and guidelines aimed at influencing corporate behavior.

This chapter provides original insights into whether and how internal governance structures can complement and reinforce social standards regarding global corporate citizenship, and the legal guidelines reflecting those standards.

The continued rise of the multinational and debate as to what constitutes global business values is predicated on the UN Declaration and Global Business Compact. This research suggests both documents explicitly exclude the existence of a foundational ethereal power creating morals thereby nullifying two thirds of the general population’s belief system. The authors argue against humanism as a global value beginning and suggest theism as a better origin and use the scientific method to introduce mathematical axioms supporting theism and complimenting humanism. Ontologically, the theist becomes a stronger base for the scientific inquiry into morals, values and business ethics. A comparison of major religious morals revealed eight factors: assurance; candor, fairness and honesty; character, integrity, truthfulness and exacting in truth; charity and compassion; environment; perseverance and tolerance; sacrifice; and seriousness. The research suggests that the UN documents do not adequately reflect these morals suggesting a change for businesses especially in Islamic regions.

A comprehensive review of religious materials emphasizing morals rather than customs, eternal entity description or negative behaviors yielded 1,243 morals and associated synonyms via six religions (Buddhism, Confucianism, Christianity, Hinduism, Islam and Judaism) representing 4.5 billion people. All positive morals were cross-referenced and only common items across all six religions were included. With the 29 common morals, the authors completed a word meaning search and did a second comparison that yielded 8 moral factors or constructs.

Eight moral factors were found to be common in all major religions (assurance, fairness/honesty, character/integrity, charity/compassion, environment, tolerance, sacrifice and seriousness). By using the scientific method (Axioms), the authors argue that theism is a better beginning to researching morals and values within business and marketing.

Multinationals should be made aware of the disconnect between the underlying problems of the Global Business Compacts’ values and the global morals identified. The results suggest adopting a codification system based on the pertinent morals as related to economic theories: capitalism, socialism and theism. The use of theism as a base to business and marketing ethics includes billions of customers and employees and their belief systems that should increase the validity and reliability of actions associated with corporate social responsibility, the environment and best practices.

The UN Declaration and subsequent Global Business Compact are argued to be flawed by its exclusion of religious morals and the historical period in which it was created. By using the scientific method and creating two axioms, the base to all business and marketing ethics must shift to the common moral factors identified.

Essays on social responsibility call the United Nations Global Compact (UNGC) “by far the world’s largest corporate responsibility initiative”. The authors look at two avenues to encourage responsible business behavior. First, at law, where law is not the answer and, second, at the UNGC. This paper aims to increase awareness of the UNGC, an umbrella organization supporting corporate good conduct.

The goal is to make corporations socially responsible. Law by nature addresses misconduct. The UNGC is more positive, encouraging responsible behavior in ten areas. The UNGC could be more effective. The authors suggest that social media and management education can help the UNGC positively impact corporate behavior.

The UNGC represents a significant opportunity. If the UNGC lives up to its potential, corporate misconduct may be lessened and corporate good behavior could be publicized, rewarded and increased.

The time has come to let readers start thinking about the UNGC and its goals. This can help bring greater social responsibility in tomorrow’s businesses.

To perform a detailed analysis of the inherent complexities in achieving the 9th Sustainable Development Goal (SDG), it is necessary to understand the procedures used by member states delegations to follow-up and review the progress made in implementing the SDGs and targets as mandated in the A/RES/70/1 Resolution adopted by the General Assembly on September 25, 2015 (U.N. General Assembly, 2015); best known worldwide as ‘Transforming our world: the 2030 Agenda for Sustainable Development’. Hence, this chapter aims at providing an overview of sustainability reporting practices to the U.N. High-level Political Forum on Sustainable Development (HLPF). It starts by reflecting on the U.N. landmark events from which the 2030 Agenda emerged and the political and cultural context prevailing at that time. Afterward, it argues on the guidance documents issued by HLPF for following up and reviewing individual countries’ progress. The most controversial issue covered in this chapter undoubtedly concerns information gathering. This issue is because stakeholders consistently question the accuracy of data being provided, not only on Voluntary National Reviews (VNRs) but also on corporate sustainability reports. Therefore, the chapter also covers the guidelines of independent external organisations such as the Global Compact Initiative (GCI) and Global Reporting Initiative (GRI) used by firms to legitimate sustainability reporting content and increase reliability. Finally, this chapter concludes with a brief description of required procedures to submit and present VNRs.

The purpose of this study is to evaluate whether the global policy on sustainability, United Nations Global Compact (UNGC), is in alignment with the complexity of the sustainability landscape utilizing complex adaptive system (CAS) theory and theory of change.

An original Complex Adaptive Policy System (CAPS) framework is used as a qualitative instrument with a constant comparison of 11 CAS themes in analyzing 117 UNGC speeches listed on the Global Compact Web site.

Although this study is intended as a preliminary study, the findings raise important questions regarding the long-term impact of the Global Compact as a global policy on sustainability.

The limitations of the study include the preliminary study design and limited source of information. Future research should include a comprehensive evaluation of the UNGC to yield specific recommendations for aligning policy with the landscape.

The study offers an original systems framework to evaluate public and private organizational polices on sustainability.