Need for Standards: Global standards are essential for ensuring consistency and accountability in corporate behavior across borders.

Stakeholder Engagement: Effective global standards require the input and engagement of stakeholders, including governments, businesses, and civil society organizations.

Regulatory Environment: Global standards should take into account the regulatory environment in different countries to ensure they are relevant and effective.

Ethical Considerations: Setting global standards requires a strong ethical foundation to ensure they promote responsible corporate behavior.

Transparency: Transparency is key to the effectiveness of global standards, as it allows stakeholders to assess compliance and hold companies accountable.

Enforcement Mechanisms: Effective enforcement mechanisms are crucial for ensuring compliance with global standards.

Adaptability: Global standards should be adaptable to different cultural, social, and economic contexts to ensure they are relevant and effective.

Collaboration: Collaboration among stakeholders is essential for developing and implementing global standards successfully.

Continuous Improvement: Global standards should be subject to continuous review and improvement to ensure they remain relevant and effective.

Impact Assessment: Regular impact assessments can help determine the effectiveness of global standards and identify areas for improvement.