The UN Global Compact enjoys the support of the UN General Assembly and has additionally been recognized in a number of other inter-governmental contexts, including by the G8. On 21 December 2009, the UN General Assembly renewed and expanded the mandate of the Global Compact Office and the UN office that supports the initiative in its Resolution "Towards Global Partnerships" ( A/RES/64/223 ).
Among other things, this Resolution recognized the importance of voluntary initiatives and partnerships toward the achievement of internationally agreed development goals, including the Millennium Development Goals. The Resolution "encourages the United Nations Global Compact to continue its activities as an innovative public-private partnership to advance United Nations values and responsible business practices within the United Nations system and among the global business community, including through an increased number of local networks."
The General Assembly also recognized the central function of the Global Compact Office in promoting the 10 Principles as a means of encouraging responsible business practice. The resolution renews the initiative’s political license for the coming two years.
Significantly, this resolution also takes note of the Principles of Responsible Investment (PRI) and the Principles of Responsible Management Education (PRME) initiatives. Both initiatives were established with the critical support of the Global Compact.
(Last Update 21 January 2010)