Davis Polk’s series on environmental, social and governance (“ESG”) standards continues with a discussion of the UN Global Compact, an internationally recognized principles-based ESG corporate disclosure and values framework. The UN Global Compact, launched in 2000, is one of the most relevant ESG frameworks as the largest corporate sustainability initiative in the world with over 9,500 company members in over 160 developed and developing countries.  Many corporations, particularly in the financial services industry, are often urged to join the UN Global Compact. This article provides an overview of the UN Global Compact and discusses potential implications for businesses that agree to sign onto it.