What initiative did the UN launch in 1998 to promote peace and development?

The Global Compact, launched in 1998 by the United Nations, is a significant initiative aimed at promoting responsible corporate citizenship and sustainable business practices worldwide. It encourages companies to align their operations and strategies with ten universally accepted principles in areas such as human rights, labor standards, environmental sustainability, and anti-corruption. The initiative fosters collaboration between businesses, society, and the UN to advance peace and development goals.

This initiative plays a pivotal role in bringing together diverse stakeholders, allowing for the sharing of best practices and the establishment of a more sustainable global economy. By engaging the private sector, the Global Compact aims to drive societal changes and enhance the impact of development efforts, emphasizing the integral connection between business practices and social responsibility.

In comparison, the other initiatives mentioned were either established at different times or served distinct purposes unrelated directly to the initial promotion of peace and development through corporate responsibility. For example, the Millennium Development Goals were introduced later in 2000, focused on addressing a range of global challenges until 2015, and the Sustainable Development Solutions Network is more about facilitating solutions for sustainable development and was launched in 2012. The Global Fund, primarily aimed at combating specific health crises such as AIDS, tuberculosis, and malaria, does not encompass the broad aim