Private Sector Forum mobilizes Business and Investments towards the Sustainable Development Goals
At the Private Sector Forum, the launch of Forward Faster by the UN Global Compact is expected to lead the way on corporate efforts to support the SDGs, in line with broader efforts taking place during the UN General Assembly week.
News provided byUnited Nations Global Compact
Sep 18, 2023, 2:49 PM ET
New York, United States of America, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Government and business leaders committed to a range of investments and actions expected to drive progress across the Sustainable Development Goals (SDGs) by 2030, while also generating business growth opportunities, at the Private Sector Forum convened today by the United Nations Global Compact.
As the Global Goals reach the halfway mark of implementation, leaders at the Private Sector Forum rallied behind the UN Secretary-General’s call for an SDG Stimulus package of $500 billion annually to 2030 to jumpstart actions to achieve the SDGs. Currently only 15 percent of the Sustainable Development Goal targets are on track, progress on 48 percent is weak and insufficient and progress has stalled or gone into reverse on 37 percent of the SDGs.
“Across your business and investment plans for the future, I urge you to put development first. Demand better, more sustainable business practices across every link of your supply and value chains, and throughout your investments. There is no greater business plan for our world than sustainable development,” said UN Secretary-General António Guterres speaking to CEOs at the Private Sector Forum.
The new UN Global Compact initiative, Forward Faster, launched during the event, challenges businesses to raise their level of ambition by taking tangible, accountable actions in five systematic areas — living wage, gender equality, climate action, water action, and sustainable finance. These five areas are where the private sector is best positioned to advance the 2030 Agenda, and serve as critical levers to accelerate progress across all 17 SDGs. Through a principles-based, holistic approach, committed companies will drive impact on the SDGs and advocate for enabling policies to unlock new opportunities, build resilience, and secure long-term prosperity for business, people and planet.
“For a more resilient, sustainable future vital to the success and longevity of a company, we’re seeing more and more companies coming on board with Forward Faster,” Sanda Ojiambo, CEO and Executive Director, UN Global Compact said. “Time and again, we know that companies taking a principles-based approach addressing human rights, labour, anti-corruption, and environmental challenges across their supply chains are proving that embracing sustainability builds a more resilient, shock-resistant business.”
To learn more about Forward Faster please visit https://forwardfaster.unglobalcompact.org/home
Notes to Editors
About the UN Global Compact
As a special initiative of the United Nations Secretary-General, the UN Global Compact is a call to companies worldwide to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 18,000 companies and 3,800 non-business signatories based in over 160 countries, and 62 Local Networks, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world. For more information, visit our website at unglobalcompact.org.
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