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Business leaders at UN summit adopt declaration on responsible practices

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Business leaders at UN summit adopt declaration on responsible practices

Hundreds of business leaders attending a United Nations meeting in Geneva today pledged to comply with labour, human rights, environmental and anti-corruption standards in a wide-ranging declaration on making globalization more beneficial to the world’s people.

At the second UN Global Compact Leaders Summit, top executives of corporations such as Coca-Cola, Petrobras, Fuji Xerox, China Ocean Shipping Group, Tata Steel, L M Ericsson and Banco Bilbao Vizcaya Argentaria adopted the 21-point Geneva Declaration, which spells out concrete actions for business, governments and UN Global Compact participants.

Some 4,000 organizations from 116 countries – among them trade unions, non-governmental organizations (NGOs) and some 3,100 businesses – have so far subscribed to the Global Compact, pledging to observe ten universal principles related to human rights, labour rights, the environment and the struggle against corruption.