Thursday, December 1 2022

RIYADH: An agreement to strengthen sustainable development efforts was signed on Thursday between the Federation of Saudi Chambers and the United Nations Global Compact network in Saudi Arabia in Riyadh.

The agreement recognizes the importance of corporate sustainability in accelerating the 2030 Agenda and the United Nations Sustainable Development Goals through private business activity.

The UN Resident Coordinator in Riyadh, Nathalie Fustier, said the private sector, with its “unprecedented reach”, has the ability to be a key driver in achieving the goals of the 2030 agenda.

She congratulated FSC for hosting the local network and expressed her gratitude to Minister of Commerce Majid Al-Qasabi, FSC President Ajlan Al-Ajlan and FSC Secretary General Hussein Al-Abdulqader for their trust and support to the local network.

She told Arab News: “This is extremely important because it brings the UNGC local network to life. It’s the beginning of a new era, and we hope that we will now be able to reach many more companies. We hope that the private sector will be much more aware of the SDGs and the 2030 agenda, and will make every effort to achieve the goals and make the Kingdom a better place to live and work.

The UNGC is a non-binding pact aimed at encouraging companies and businesses around the world to adopt sustainable and socially responsible policies.

The SDGs were established in 2015 by the United Nations General Assembly and were to be achieved by 2030.

The Global Compact Network Saudi Arabia was officially launched with the support of the United Nations Resident Coordinator’s office in Riyadh last September, joining 69 UNGC networks around the world.

The creation of the Saudi Global Compact Network is 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 Agenda 2030 and Saudi Vision 2030.

Global Compact Network Saudi Arabia has attracted 36 companies whose aim is to facilitate balanced and sustainable economic, social and environmental development in accordance with the ten principles of the UNGC. This means operating in a way that meets fundamental human rights, labor, environmental and anti-corruption responsibilities.

By incorporating these principles into strategies, policies and procedures, and establishing a culture of integrity, companies can fulfill their fundamental responsibilities to people and the planet, while setting the stage for sustainable development.

The launch in Saudi Arabia was significant due to the size of the economy and the opportunities the country has to advance sustainable development regionally and globally.

The network’s mission in Saudi Arabia is to provide the private sector with the necessary guidance to ensure that it recognizes the role of business in achieving the SDGs and creating high-impact collaboration.

“We are delighted that with the launch in Saudi Arabia, the UN Global Compact is firmly established in each of the G20 countries,” the UNGC Saudi Arabia said.

“It is a key achievement that the UN Global Compact is launching its network in Saudi Arabia,” said Maryam Telmesani, President of Global Compact Network Saudi Arabia. “The timing couldn’t be more perfect for companies operating in Saudi Arabia to join the network to align their sustainability efforts with the UNGC’s Ten Principles on Human Rights, Labor, environment and anti-corruption, as well as the 17 Sustainable Development Goals to advance the country’s sustainable development agenda,” she added.

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