Business leaders attending the second UN Global Compact Leaders Summit in Geneva adopted a declaration complying with labor, human rights, environmental and anti-corruption standards.

Some 4,000 organizations from 116 countries - among them trade unions, non-governmental organizations (NGOs) and some 3,100 businesses - have so far subscribed to the Global Compact, pledging to observe ten universal principles related to human rights, labour rights, the environment and the struggle against corruption.

The Declaration says, "Poverty, income inequality, protectionism and the absence of decent work opportunities pose serious threats to world peace and markets."

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