The main essence of becoming members / signatories of UN Global Compact is the acknowledgement of support towards the implementation of The Ten Principles of UN Global Compact. As member of UN Global Compact, it is an obligatory to report the implementation of the UN Global Compact 10 Principles through Communication on Progress (COP) or Communication on Engagement (COE). Members are highly encouraged to give financial contributions toward IGCN, as it is one of the main resources for the association secretariat to perform its roles.

There are two types of membership in the UN Global Compact, the business and non business signatories. It is divided based on the kind of report that should be submitted to the UN Global Compact. Communication on Progress (COP) should be submitted each year by business signatories, while Communication on Engagement (COE) should be submitted each two years by non-business signatories.

Annual financial contributions from business participants of the UN Global Compact are made to the Foundation for the Global Compact and used to deliver programmes and participant services in collaboration with Global Compact Local Networks. A small percentage is set aside for the Local Network Development Fund — a mechanism created to support new and developing Networks.