The FINANCIAL -- On August 2 the World Expo 2010 in Shanghai opened an exhibit on the Global Compact. To mark the occasion a Global Compact high level forum was held. Convened at the UN pavilion, the event gathered over 200 leaders from Chinese businesses, civil society, the UN and government.

Mr. Chen Jiagui, Member of China National People’s Congress Standing Committee and Dr. Awni Behnam, UN Assistant Secretary General opened the forum by emphasizing the importance of the UN Global Compact and the need for the private sector to contribute to a more sustainable society and support the MDGs. Mr. Peng Huagang, Director General of Research Bureau from the State-owned Assets Supervision and Administration Commission of State Council emphasized the critical role the UN Global Compact has played in advancing corporate social responsibility.

Representatives from several Chinese businesses and multinational corporations discussed various issues related to the Global Compact, particularly implementation of the Blueprint for Corporate Sustainability Leadership, advancing the UN Millennium Development Goals and the importance of corporate sustainability in the wake of the global financial crisis. These companies included: China Ocean Shipping Group of Companies, Baosteel Group, China Development Bank, PetroChina, Rhodia China, China Minmetals Corporation, IKEA China, China National Offshore Oil Corporation, Bayer China, China Huaneng Group, Bank of China, Coca Cola China and Guangxi Beihai Penshibao Company.

The Global Compact exhibit at the World Expo 2010 will demonstrate how the business community, through Local Networks, is promoting sustainable development around the world. The exhibit will remain in place at the UN pavilion through 13 August 2010.

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