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The Global Compact Leaders Summit - 24 June 2004, UN Headquarters

The Global Compact Leaders Summit, chaired by Secretary-General Kofi Annan, assembled hundreds of corporate executives, government officials and civil society leaders at UN headquarters on 24 June to take stock of the Global Compact and chart its future course. President Luis Inácio Lula da Silva of Brazil delivered the keynote luncheon address.

The one-day meeting saw a number of key announcements, including the following:

  • After an extensive consultation process with Global Compact participants, the Secretary-General announced the adoption of a tenth Global Compact principle "against corruption in all its forms, including corruption and bribery."

  • Twenty major investment companies endorsed a Global Compact report and initiative on "connecting financial markets" to environmental, social and governance criteria, and agreed on steps to bring other actors in the financial world into accord on how these factors would become standard components in the analysis of corporate performance and investment decision-making. The report, entitled, was issued at the Summit.

  • 10 stock exchanges from around the world announced that they have embarked on a Global Compact awareness-raising campaign with their listed companies. Bovespa, the Brazilian stock exchange, announced its decision to join the Global Compact. (The Jakarta and Istanbul Stock Exchanges also joined the Global Compact.)

  • The United Nations Administration announced that the Global Compact??s principles will be adopted in key areas such as procurement, investment management (pension fund), and facilities management and human resources.

  • In total, more than 20 business, government, labour and civil society leaders announced new initiatives, projects and innovations , giving practical meaning to the Global Compact principles and supporting global development.

  • Final report on the Summit