UNICEF, the UN Global Pact and the European Business Association launched ten principles called the Children’s Rights and Business Principles (CRBP) that aim to set the standard for child-friendly businesses everywhere, Info-Prim Neo reports, quoting a press release from UNICEF. The Children’s Rights and Business Principles guide companies on the full range of actions they may take in the workplace, marketplace and community to respect and support children’s rights. The business community 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. The CRBP provides business with a principles-based framework and a practical pathway to become a beneficial force for children, maximizing their positive impacts and minimizing any negative impacts of their operations, products and marketing practices. Supporting the Children’s Rights and Business Principles can help companies minimize material risks and discover new business opportunities. Research suggests that child-friendly policies and practices may be indicative of good corporate governance and better risk management. The principles apply to all the types of businesses, regardless of their size, area of activity, place, owner and structure, as well as to other social players that establish relations with businesses, especially the governments and civil society. Based on extensive consultations with over 600 business and civil society stakeholders from all geographic regions the principles will enable the private sector to maximize positive impacts on children’s lives by respecting and supporting their rights. The consultation process covered several thousand people.