Briefly describe The UN Global Impact.What is its function?

The UN Global Compact is the largest "corporate citizenship" initiative in the world.24 This voluntary initiative includes more than 4,700 corporate participants from 130 countries as well as 700 civil societies,labor organizations,and academic institutions.This compact represents a partnership between the private sector and other sectors to promote responsible corporate citizenship as one means of encouraging business to be part of the solution to a more sustainable and inclusive global economy.
The UN Global Compact works to advance 10 universal principles in the areas of human rights,labor standards,the environment,and anticorruption.However,it is not a regulatory agency and,therefore,does not enforce or measure the behavior or actions of companies.Rather,it relies on public accountability,transparency,and the enlightened self-interest of companies to initiate and share the actions they take in pursuing the principles on which the UN Global Compact is based.