Development, governance and the private sector

International Symposium
6 December 2002
Basel, Switzerland

Background

Violation of human rights through child labor, corruption at the expense of the poor, arms races instead of poverty reduction, fraud in multinational companies. This selection of media headlines has one common denominator: Governance.

Governance focuses on the rules and mechanisms by which stakeholders can influence decisions and hold those in power accountable. As far as governments are concerned, good governance relates to democracy, the rule of law, human rights, decentralization, and reducing corruption.

In the private sector, corporate governance challenges non-transparency and non-accountability not only towards shareholders but the wider public. Questions of global governance are also on the table for multilateral organisations such as the IMF, the World Bank or the United Nations – questions regarding their accountability towards civil society.

In the year 2000, the United Nations and the private sector agreed on a UN Global Compact, to achieve companies' compliance with human rights, labor and environmental standards. More than 300 enterprises signed, among them Novartis International. 




Compliance is voluntary; there is no independent monitoring and sanctions in case of violations. Is the UN Global Compact more than a paper tiger? Can companies refrain from legal lucrative business options for reasons of responsibility towards society? Is the UN Global Compact being implemented, e.g. in the case of Novartis?

Experts from all over the world will analyze and discuss such controversial questions at this year's Symposium on Development, Governance and the Private Sector. The Novartis Foundation hopes that this Symposium will help shed light on an issue of great importance.