Globalization is a product of the advances of modern science, especially in the areas of the electronic means of communication and the possibilities of the rapid transportation of people, services, money and goods. It is characterized by the progressive elimination of barriers to trade and investment and the unprecedented international mobility of capital.
Globalization opens the way for many possibilities, both just and unjust.
In so doing, it fulfils a critical need, but it must not usurp the role of binding rules to regulate the behavior of multinational companies. The trade union leaders' comments followed a high-level meeting convened by Kofi Annan, UN Secretary General on July 26 between CEOs of major multinational companies, top trade union leaders and representatives of NGOs. The aim of the meeting was to explore how best to promote corporate social responsibility through the Compact's principles, and to identify areas to support this. It should help to create a space for dialogue and the forging of partnerships between business and labor. Its aim is to promote corporate social responsibility.