Global Governance describes decision-making and accountability within the international system and the process by which decisions are made and implemented (or not implemented).

In today’s world we are faced with many problems that affect more than one state or region and go beyond the capacity of individual states to solve, including peace and security, economic crises, terrorism, climate change and the spread of disease. Collective efforts must be made to identify, understand and address these global problems.

Globalisation is admittedly a broad, amorphous topic area that spans multiple industries, interests and issues: different ideologies, political and diplomatic negotiations, sweatshops, offshoring, trade agreements, international finance, human-rights, agriculture and many more. From a new dam in China to a soybean field in a cleared stretch of Amazon rainforest, from maquiladoras in Mexico to regional rearmament and nuclear proliferation, ‘globalisation’ captures a unique profile of life.

An increasingly global world has exacerbated the need for multilateral action but it has also shaken the very foundations of the multilateral system: authority is drifting away from international institutions and from the Western powers that have traditionally led them, leaving the world short on leadership at a time when it is increasingly vulnerable to catastrophic shocks.

Traditionally, states have been the main participants in Global Governance and the main building blocks of the world order. Nation states are now seeing their clout blurred as other actors play an increasingly significant role in the Global Governance process. Throughout history the balance of power between states has undergone many changes. One of the most fundamental changes in recent years was the collapse of the Soviet Union and the transition from bipolarity to unipolarity. Many now believe that the demographic and economic growth of countries such as China, India and Russia represents a return to a more multipolar system.

Power is becoming increasingly diffuse whilst the need for cooperation on issues such as climate change, development, hunger and poverty, human-rights, conflict resolution, pandemics and terrorism has never been greater. But beyond each individual problem, the greatest challenge is how to engineer collective action in a world where old and new powers compete for influence and resources; and where a technological revolution has empowered ordinary citizens and those who want to influence them.

Within the context of globalisation, Global Governance is about the interaction that is required to solve problems which affect more than one state or region when there is no power enforcing compliance. As such, Global Governance is about decision-making and the regulation and management of interdependent relations and global processes within the international system in the absence of an overarching political authority.

Global Governance encompasses mechanisms, relationships, and practices through which global problems are addressed, collective interests are articulated, rights and obligations are established and differences are mediated. Governments, companies and organisations adhere to these sustainable practices both because they make economic sense and because stakeholders (especially shareholders) can monitor their compliance easily. Non-state actors are increasingly acquiring the ability to influence the processes of Global Governance. Improved global problem-solving, informal networks and effective international institutions requires consensus on norms and practices alongside the creation and improvement of new accountability mechanisms. Most prominent amongst these non-state actors are multinational corporations with vast financial assets. However, non-governmental organisations have also displayed a great capability to affect decision-making in the international system. Recently some of the more successful efforts at forging international cooperation have involved crucial input from business, local authorities and non-governmental organisations such as Gold Mercury International.

Gold Mercury International’s role in such a context is to provide innovative frameworks to continue to improve sustainable governance, cooperation and strategic practices whilst fostering increased interaction between Global Governance participants. Our aim is to drive and encourage the much needed dialogue between stakeholders and representatives of government, the corporate world, civil society and those passionate and visionary individuals who are making positive changes for the betterment of our world.

Visionary Governance® is extremely important in the context of Global Governance. The current process of governance is constantly criticised for lacking transparency and accountability.

Citizens all over the world are becoming disillusioned with poor governance practices.

It is the will and mission of Gold Mercury International that all individuals, institutions, and organisations participating in the processes of Global Governance demonstrate Visionary Governance® and Leadership.

A certain set of ‘global ethics’ or standards that are the result of consensus amongst societies, corporations, institutions and organisations, can be agreed upon, which the leaders involved in Global Governance must follow.

In sum, participants should strive to uphold a basic set of ‘good governance’ principles:

Visionary Governance®: Leaders should have a broad and long-term perspective on governance and human development and a sense of what is needed for such development. In other words, they must work to provide for the needs of the world’s current population without damaging the ability of future generations to provide for themselves

Participation: Those affected by a decision should have a voice in the decision-making process, either directly or through legitimate institutions that represent their interests •  Rule of Law: Legal frameworks should be fair and enforced impartially and all people should be equal before the law

Transparency: Processes, institutions and information should be directly accessible to those concerned with them

Responsiveness: Institutions and processes should endeavour to serve all stakeholders

Consensus Orientation: Differing interests should be mediated to reach a broad consensus on what is in the best interests of those involved

Equity: All individuals should have opportunities to improve or maintain their well-being

Efficiency: Processes and institutions should produce results that meet needs whilst making the best use of resources

Accountability: Decision-makers in government, the private sector, and civil society organisations should be accountable to the public and to institutional stakeholders