The Principles for Responsible Management Education were developed in 2007 by an international task force of sixty deans, university presidents and official representatives of leading business schools and academic institutions.

The development of a principle-based global engagement platform for academic institutions follows from a recommendation by academic stakeholders of the UN Global Compact. The idea was officially introduced by the UN Global Compact at the Global Forum "Business as an Agent of World Benefit" at Case Western Reserve University in October 2006.

Under the coordination of the UN Global Compact and leading academic institutions, the PRME task force developed a set of six principles which lay the foundation for the global platform for responsible management education.

The following academic institutions co-convened the drafting process together with the UN Global Compact, and later on endorsed the final document:

• AACSB International
• European Foundation for Management Development (EFMD)
• Aspen Institute Business and Society Program
• European Academy of Business in Society (EABIS — now ABIS)
• Globally Responsible Leadership Initiative (GRLI)
• Net Impact

The Principles were first published at the 2007 UN Global Compact Leaders Summit in presence of UN Secretary-General Ban Ki-moon and more than 1000 business, civil society, and government leaders in Geneva, Switzerland.

Acknowledging the potential benefits of the PRME, UN Secretary-General Ban Ki-moon said during his closing remarks: