RIYADH: A deal to strengthen sustainable development efforts was signed on Thursday between the Federation of Saudi Chambers and the UN Global Compact Network Ƶ in Riyadh.
The agreement recognizes the importance of corporate sustainability to accelerate the 2030 agenda and the UN Sustainable Development Goals through private business activity.
UN resident coordinator in Riyadh Nathalie Fustier said that the private sector, with its “unparalleled reach,” had the capacity to be a key driver to achieve the objectives of the 2030 agenda.
She commended the FSC for hosting the local network and expressed her gratitude to Commerce Minister Majid Al-Qasabi, FSC chairman Ajlan Al-Ajlan, and FSC secretary-general Hussein Al-Abdulqader for their trust and support of the local network.
She told Arab News: “This is extremely important because it brings life to the UNGC local network. It’s the beginning of a new era, and we hope that now we will be able to reach out to many more companies. We hope that the private sector will be much more aware of the SDGs and 2030 agenda, and will bring all the efforts to achieve the goals and make the Kingdom a better place to live and work.”
The UNGC is a non-binding pact to encourage businesses and firms worldwide to adopt sustainable and socially responsible policies.
The SDGs were set up in 2015 by the UN General Assembly and were intended to be achieved by 2030.
The Global Compact Network Ƶ was formally launched with the support of the office of the UN resident coordinator in Riyadh last September, joining 69 UNGC networks around the world.
The establishment of the Saudi Global Compact Network has been part of the UN’s efforts to broaden the scope of engagement with the private sector, and to promote long-term sustainable partnerships aligned with the 2030 agenda and Saudi Vision 2030.
Global Compact Network Ƶ has attracted 36 corporations whose purpose is to facilitate balanced and sustainable economic, social and environmental development in accordance with the UNGC’s Ten Principles. This means operating in ways that meet fundamental responsibilities in human rights, labor, environment, and anti-corruption.
By incorporating these principles into strategies, policies and procedures, and establishing a culture of integrity, companies can uphold their basic responsibilities to people and the planet, while also setting the stage for sustainable development.
The launch in Ƶ was important because of the size of the economy and the opportunities the country has to drive advancement in sustainable development on a regional and global scale.
The network’s mission in Ƶ is to provide the private sector with the necessary guidance to ensure it recognizes the role of business in achieving the SDGs and creating high-impact collaboration.
“We are pleased that, with the launch in Ƶ, the UN Global Compact is firmly established in each of the G20 countries,” UNGC Ƶ said.
“It is a key achievement to have the UN Global Compact launch its network in Ƶ,” said Maryam Telmesani, chair of the Global Compact Network Ƶ. “The timing couldn’t be more perfect to have businesses operating in Ƶ joining the network to align their sustainability efforts with the UNGC Ten Principles on human rights, labor, environment, and anti-corruption as well as the 17 Sustainable Development Goals to push forward the country’s sustainability agenda,” she added.
