The nature of the UN Global Compact has been studied from the perspective of three frameworks. The first is the theory of norm. The UNGC involves the creation of a network beyond transnational advocacy, as a transnational norm. The network of the UNGC is a public space for dialogue among participants. The second is the theory of subject. In the process of Multi-Stakeholder Initiatives, ownership of various stakeholders and actors including companies are discussed. Furthermore, it attempts to draw the sense of ownership and commitment from those who cannot recognize their ownership. The third is the theory of responsibility. In the age of globalization, in association with increasing multilateral actors, the concept of ‘responsibility’ should be multilayered. The concept of ‘responsibility’ should be interpreted stereoscopically and it will be necessary to understand and conceptualize many related concepts concerning ‘accountability’ such as ‘responsibility,’ ‘charge’ and ‘commitment,’ with gradations.