The benefits of engagement include the following:
- Adopting an established and globally recognized policy framework for the development, implementation, and disclosure of environmental, social, and governance policies and practices.
- Sharing best and emerging practices to advance practical solutions and strategies to common challenges.
- Advancing sustainability solutions in partnership with a range of stakeholders, including UN agencies, governments, civil society, labour, and other non-business interests.
- Linking business units and subsidiaries across the value chain with the UN Global Compact's Local Networks around the world — many of these in developing and emerging markets.
- Accessing the United Nations' extensive knowledge of and experience with sustainability and development issues.
Utilizing UN Global Compact management tools and resources, and the opportunity to engage in specialized workstreams in the environmental, social and governance realms.
To summarize, the UN Global Compact was created to help the private sector managing risks and opportunities related to the environment, society and governance. By partnering with businesses, and drawing on the knowledge and experience of other nonprofit actors, the UN Global Compact aims to engage markets and societies in a universal principles and values system for the benefit of all parties.