The United Nations Global Compact, one of the world’s largest corporate sustainability initiatives, has announced its new Africa Strategy to advance corporate sustainability and scale up responsible business practices across the continent in support of the Sustainable Development Goals (SDGs).
The Global Compact will pursue three strategic objectives in Africa: growing impact through focus; driving inclusive impact; and leveraging associations, supply chains and sources of capital.
With 1.3 billion people and a combined GDP of US$3.5 trillion, Africa is one of the world’s biggest growth markets and its businesses are primed to play a pivotal role in the corporate sustainability movement.
Aiming to accelerate and scale the global collective impact of business, the UN Global Compact Africa Strategy 2021-2023 aims to galvanise large and small companies across Africa to uphold the Ten Principles. The UN Global Compact principles-based approach means that businesses operate in ways that, at a minimum, meet fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption.
“The United Nations Global Compact is uniquely positioned to support companies on their journey to align their practices to a sustainable and inclusive future. The Ten Principles on human rights, labour, the environment and anti-corruption offer a blueprint for businesses seeking to be part of the collective effort to build back stronger from the COVID-19 pandemic. Now is the time to scale up the global business community’s contributions to the 2030 agenda and the implementation of the Paris Agreement on climate change. That is the overarching goal of the Global Compact strategic plan for 2021 through 2023,” said António Guterres, UN Secretary-General and Board Chair of the UN Global Compact.
The strategy is released ahead of the Climate Change Conference of Parties (COP 27) in Africa in 2022 and as countries on the continent begin implementing the African Union’s agenda 2063 – a collective blueprint for transforming the African continent into a global powerhouse of the future.
Sanda Ojiambo, CEO and Executive Director of the UN Global Compact, added: “The private sector plays a critical role in the development of Africa and in realising the Sustainable Development Goals (SDGs). Our new strategy for Africa will ensure businesses across the continent have access to the tools and partnerships they need to play their part in creating a resilient future while adhering to responsible and sustainable business practices.”