The study analyzes the United Nations Global Compact initiative (UNGC) as an attempt to develop a global governance mechanism to address the issues of corporate social responsibility (CSR) at the global level. The UN Global Compact is one of the most ambitious attempts to create a global governance system of businesssociety relations. Reflecting the Sustainable Development Goals at the corporate level, it strives to create a flexible self-regulating CSR system in such fields as human rights, labor relations, environmental protection, and anti-corruption. The key advantage of the GC as a global governance mechanism is its reliance on institutions and reputation of the UN as a leading platform for international dialogue.