|Principle 7||Businesses should support a precautionary approach to environmental challenges|
|Principle 8||undertake initiatives to promote greater environmental responsibility; and|
|Principle 9||encourage the development and diffusion of environmentally friendly technologies.|
The environmental principles of the Global Compact provide an entry point for business to address the key environmental challenges. In particular, the principles direct activity to areas such as research, innovation, co-operation, education, and self-regulation that can positively address the significant environmental degradation, and damage to the planet’s life support systems, brought by human activity.
The three environmental principles are drawn from a Declaration of Principles and an International Action Plan (Agenda 21) that emerged from the United Nations Conference on Environment and Development (the Earth Summit) held in Rio de Janerio in 1992. Chapter 30 of Agenda 21 identified that the policies and operations of business and industry can play a major role in reducing impacts on resource use and the environment. In particular, business can contribute through the promotion of cleaner production and responsible entrepreneurship.