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Direct cooperation between the private sector and the United Nations (UN) emerged as a significant phenomenon in the late 1990s in response to the complexity of global problems, the scarcity of resources and the failure of multilateral mechanisms to address these issues. While many initially regarded cooperation with the private sector skeptically, the launch of the United Nations Global Compact in 2000 signaled the beginning of a new phase in UN engagement with the private sector – one in which the private sector’s role and responsibility in helping achieve UN development goals, including the Millennium Development Goals, has become politically accepted and operationally scalable. This report charts the evolution of UN-business engagement since 2000.