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In the boardroom a voluntary pledge from a government sounds rather like "maybe".
In 2008, a coalition of students started the MBA Oath, a voluntary pledge among students to "create value responsibly and ethically".
But something more than a voluntary pledge may be needed to protect the integrity of the market and the interests of unsuspecting investors.
"This conditionality will include private-sector agreements on a voluntary basis," said Mr. Juncker, suggesting that any new European package would include a voluntary pledge by private investors to extend the maturity of Greek debt.
In 2010, Mr Schumer got five big American airlines to promise not to charge fees for carry-on bags, so it's possible that a voluntary pledge could resolve this, too.
Elected by a simple majority of the General Assembly (instead of the proposed two-thirds majority), its members faced no prior test other than a "voluntary pledge" on human rights.
Similar(51)
Real progress will require individual countries to fulfill their voluntary pledges under previous U.N. agreements.
The climate accord that is being negotiated now revolves around voluntary pledges.
Voluntary pledges by individual countries might never be enough to effect the massive changes needed.
Responsibility deals are designed to let businesses and other organisations make a contribution to public health through voluntary pledges.
In a significant political breakthrough, governments in Durban shunned voluntary pledges of action and turned decisively towards legal commitments.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com