UNICEF, UN Global Compact and Save the Children are inviting businesses to take an active role in developing a global standard of business principles in relation to children’s rights.

Through an online consultation process, which launches on 5 May, representatives of the private sector can help shape the Children’s Rights and Business Principles UN Global Compact (CRBP), which aims to set the standard for child-friendly businesses everywhere.

The CBRP will be launched this November. It will be the first comprehensive set of principles to guide companies on how to respect and support children’s rights.

The private sector can make an important contribution towards the realization of child rights not only through its own practices and policies, but also by using its influence to change attitudes, policies and institutions.

"While the culture of corporate sustainability has broadened considerably in recent years, a child rights perspective is often absent during discussions regarding the human rights responsibilities of business," said Christopher L. Avery, the director of the Business & Human Rights Resource Centre, which is hosting the consultation.

Research suggests that child-friendly policies and practices may be indicative of good corporate governance and better risk management - enhancing brand value, increasing employee satisfaction, and driving consumer loyalty.