Latest news with #ForwardFaster
Yahoo
14-04-2025
- Business
- Yahoo
UN Global Compact and private sector move to accelerate progress on SDGs in Africa
Kampala Declaration calls for scaling up Forward Faster initiative across Africa KAMPALA, Uganda, April 11, 2025 /PRNewswire/ -- To accelerate progress towards achieving the Sustainable Development Goals (SDGs) in Africa, the United Nations Global Compact hosted the SDGs Activation Day earlier this week as part of its Forward Faster Now Africa initiative. The SDG Activation Day served as the private sector space within the 11th Africa Regional Forum on Sustainable Development (ARFSD-11) held 7-11 April. With the theme, "Moving Forward Faster Now on the SDGs with African Businesses", the SDG Activation Day brought together CEOs, corporate sustainability professionals, private sector leaders as well as representatives from Governments, policymakers, UN officials and other stakeholders from across Africa for high-level discussions. With only 17 per cent of SDG targets on track for 2030, the UN Global Compact launched its Forward Faster initiative in 2023 to mobilize ambitious corporate action in high-impact areas: gender equality, living wage, water resilience, climate action and sustainable finance. Forward Faster calls on business leaders everywhere to drive companies to take measurable, credible and ambitious action in 5 areas that have the power to accelerate progress across all 17 SDGs where the private sector can collectively make the biggest, fastest impact by 2030. Opening discussions, Sanda Ojiambo, CEO and Executive Director of the UN Global Compact, emphasized the critical role of private businesses in achieving the 2030 Agenda: "To achieve the Africa that we all want, we know that we need forward thinkers – bold private sector leaders committed to working together and alongside Governments and civil society. Our UN Global Compact Forward Faster initiative is designed to guide and support business leaders and companies in areas where the business community is best equipped to scale sustainable business and sustainable development. These companies tell us that joining Forward Faster has helped shape company strategy, increase visibility, and build public trust, as well as get ahead of new regulations." The convening highlighted the urgent need for businesses to take action, inspiring participants to raise their ambitions. Through dedicated sessions on gender equality, sustainable finance and living wage, attendees heard tangible examples from leading African companies, facilitating peer learning to share best practices. In each session, attendees explored innovative approaches to enhance private sector engagement in sustainability, especially actions that businesses can take now, without any need for additional resources. In his remarks, Antonio Pedro, Deputy Executive Secretary of the Economic Commission for Africa (ECA), urged business leaders to act decisively, noting that with the African Continental Free Trade Area (AfCFTA) unlocking the potential of a $3.4 trillion market, the opportunities to harness Africa's potential are immense if done inclusively and sustainably. "The private sector is no bystander; it is indispensable to job creation, innovation, and ultimately, prosperity for all Africans," Pedro said. "We must move beyond visions, declarations, and plans— beyond even conferences—and translate these commitments into concrete action." The Kampala Declaration, the outcome document of the ARFSD-11, included a call for incentivizing private sector investments aligned with the SDGs and for scaling up the Forward Faster initiative in Africa to accelerate progress on the SDGs and the African Union's Agenda 2063. Key discussions on driving SDGs action On sustainable finance, SDG Activation Day participants discussed how innovative public-private-partnerships (PPPs) can serve as a way to collaboratively create transformative impact. Financial services executives also shared how capital can be mobilized towards the SDGs, sharing learnings on risk management, blended finance and financial inclusion. During the gender equality session, private sector leaders shared how they were able to move the needle within their organizations through recruitment, retention, procurement and male allyship. On living wages, participants called for cross-sector collaboration—from policy and awareness to research and technical support to ensure fair pay that lifts workers out of poverty and fuels economic growth. Members of the Africa Business Leaders Coalition (ABLC) highlighted how collective action is a multiplier for impact. Leaders shared how the ABLC has already mobilized nearly 5 billion USD for climate action and centred the importance of promoting women's economic inclusion with the ABLC Gender Statement. The ARFSD is an annual inter-governmental and multi-stakeholder platform mandated to review progress in the implementation of the 2030 Agenda for Sustainable Development and Agenda 2063, while identifying and promoting interventions to accelerate implementation of the two Agendas, and generating Africa's regional inputs to the High-Level Political Forum on Sustainable Development (HLPF) and other major national, regional, and global meetings. The African private sector has embraced the sustainable development agenda and the UN Global Compact now counts more than 1,100 participants in the region. To date, more than 115 companies in Africa have made 585 specific commitments to deliver meaningful progress by 2030. We all call on African businesses of all sizes to commit to one or more forward faster targets. For those who are not yet Global Compact participants, learn more about joining the world's largest corporate sustainability initiative HERE. About the UN Global Compact The ambition of the UN Global Compact is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the SDGs through accountable companies and ecosystems that enable change. With more than 20,000 participating companies, 5 Regional Hubs, 63 Country Networks covering 80 countries and 13 Country Managers establishing Networks in 18 other countries, the UN Global Compact is the world's largest corporate sustainability initiative—one Global Compact uniting business for a better world. View original content to download multimedia: SOURCE United Nations Global Compact Sign in to access your portfolio
Yahoo
11-03-2025
- Business
- Yahoo
UN Global Compact calls for Women's Economic Inclusion at Business Leadership Dialogue during Commission on the Status of Women
NEW YORK, March 11, 2025 /PRNewswire/ -- The United Nations Global Compact, in partnership with UN Women and the Champions of Change Coalition, today concluded a high-level Business Leadership Dialogue, convened on the margins of the 69th session of the Commission on the Status of Women (CSW69). The gathering united over 50 business leaders, policy experts and change-makers to accelerate private-sector commitments toward women's economic empowerment by 2030. The event marked three significant anniversaries for global gender equality efforts: 30 years since the establishment of the Beijing Declaration and Platform for Action 25 years since the founding of the UN Global Compact 15 years since the creation of the Women's Empowerment Principles (WEPs) Despite decades of progress, on average, women are paid about 20 per cent less than men, according to the International Labour Organization leading to significant lifetime income inequality. At the current rate it will take 134 years to close the global gender gap. Yet companies with diverse leadership teams are 25% more likely to outperform their peers. During the dialogue, participants examined how businesses can apply a gender lens across the value chain by creating gender-responsive supply chains and directing capital to women-owned businesses, engage male allies and advocate for policy enablers to bridge persistent gender gaps worldwide. Conversations focused on: Invest in Women Initiative: The UN Global Compact spotlighted its Invest in Women initiative designed to increase capital flows to women-owned businesses and champion gender-inclusive investments, urging companies to align their investment and procurement strategies with gender equality objectives. Business leaders also shared successful case studies on how they have embedded a gender lens into supply chain operations, emphasizing that doing so unlocks diverse markets, fosters innovation, and reinforces stakeholder trust. Male Allyship: In a fireside chat featuring the Champions of Change Coalition and Equimundo, speakers highlighted effective approaches for mobilizing men in leadership positions to champion gender equality and women's economic inclusion, with a focus on culturally attuned, scalable programs. The UN Global Compact also launched its new knowledge tool – "Mainstreaming Male Allyship: an Action Guide for Business," developed in partnership with Equimundo. Africa Business Leaders Coalition (ABLC): This dialogue dove into the extensive implementation that ABLC members have driven on the Gender Statement. It also explored the progress that ABLC member companies are advancing across sectors and geographies on the continentsince launching a historic Gender Statement in Kigali, Rwanda in May 2024, demonstrating how regional coalitions can drive global transformation. Forward Faster initiative & the WEPs: Businesses were called on to commit to the Forward Faster initiative—targeting equal representation, participation, and leadership of women at all levels by 2030—and to sign on to the Women's Empowerment Principles (WEPs), which provide a comprehensive framework for embedding gender equality across the workplace, marketplace, and community. "Accelerating women's full participation is not just a moral imperative, it's an economic one," said Melissa Powell, Deputy Executive Director of the UN Global Compact. "As we celebrate the 30th anniversary of the Beijing Declaration and 25 years of the UN Global Compact, we have never been closer to a true tipping point. By investing in women-led enterprises, championing male allyship, and building equitable supply chains, businesses can lead the charge on achieving the Sustainable Development Goals by 2030." Following the dialogue, attendees participated in roundtable discussions and committed to sharing key insights across their networks. Companies are encouraged to join or deepen their engagement with the Forward Faster initiative and the WEPs, setting measurable targets to close leadership and pay gaps, and to implement policies that champion inclusivity at every level. About the UN Global CompactThe ambition of the UN Global Compact is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the SDGs through accountable companies and ecosystems that enable change. With more than 20,000 participating companies, 5 Regional Hubs, 63 Country Networks covering 80 countries and 13 Country Managers establishing Networks in 18 other countries, the UN Global Compact is the world's largest corporate sustainability initiative — one Global Compact uniting business for a better world. View original content to download multimedia: SOURCE United Nations Global Compact
