One thousand business executives, non-governmental organisations and international officials have gathered in Geneva for a meeting of the UN Global Compact, set up in 2000 to support strengthened efforts by business to meet a range of environmental, social and good governance goals (“ESG”).

The atmosphere in the rarified and labyrinthine Palais des Nations – with its set-piece speeches, laboriously drafted and lofty declarations aiming at the lowest common denominator, and chunky classroom-style desks gives the impression that business has had to adjust to UN rules rather than the other way round.