The meeting will comprise of members of the new Advisory Council for the Global Compact which is an initiative that promotes action in support of internationally agreed principles on human and labor rights and the environment.

The Advisory Council will be the first governing body of its kind to bring together activists and corporate administrators to address a wide range of issues. This Council is being formed in response to the growing success of Global Compact. It was launched in 1999 and since then has attracted the support of several companies, labor groups, academic institutions and civil society organizations. Global Compact acts individually and in together with UN agencies, governmental and nongovernmental organizations (NGOs) to launch programs in combating HIV/AIDS and child labor, increasing adult literacy and providing improved health care to rural communities.

In addition to this Global Compact also holds policy dialogues with key players in the issues they are combating. It has also created an interactive Web-based Learning Forum. Through this participating companies can share their experiences.

Annan is convening this meeting of the 16-member Advisory Council to once again focus attention on governance and strategy to better achieve goals of globalization. The Council hopes find solutions so that the Global Compact can become more effective.