UN General Assembly Plenary Reaffirms UN Global Compact Mandate

(MENAFN- GlobeNewsWire - Nasdaq) The resolution supports the work of the UN Global Compact to mobilize the Private Sector Engagement in advancing the Sustainable Development Goals

New York, United States of America, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Today, the United Nations General Assembly Plenary unanimously adopted a resolution reaffirming its support for the UN Global Compact's mandate to engage the private sector in advancing the Sustainable Development Goals.

The UN General Assembly resolution Towards Global Partnerships: A principle-based approach to enhanced cooperation between the United Nations and all relevant partners highlights“the vital role that the Global Compact Office continues to play with regard to strengthening the capacity of the United Nations to partner strategically with the private sector.”

The resolution reflects the broad support of all governments for the work of the UN Global Compact. The UN General Assembly recognized the value of key UN Global Compact initiatives, including the annual United Nations Private Sector Forum, the Leaders Summit, the Global Africa Business Initiative, and the Africa Business Leaders Coalition.

The resolution emphasizes the critical role of governments in promoting responsible business practices and acknowledges the significant contribution of the private sector to sustainable development. It encourages the UN system to adopt a more coherent approach when engaging private sector entities, including micro, small, and medium-sized enterprises (MSMEs), that align with the United Nations' core values and commit to the Ten Principles of the UN Global Compact.

Furthermore, the resolution highlights the important work of the Global Compact Country Networks in supporting the local implementation of the 2030 Agenda and their collaboration with UN Country Teams and national development plans. It also endorses key initiatives such as the UN Global Compact Strategy 2024–2025 , the UN Global Compact Africa Strategy 2024–2025 , and the sustainable supply chain and MSME programme .

The resolution commends the efforts of the UN Global Compact to engage Member States through platforms such as the UN Global Compact Government Group and the Group of Friends. These channels are recognized as vital for advancing corporate sustainability, responsible business practices, and public-private partnerships for achieving the 2030 Agenda. Member States are encouraged to deepen their engagement with the Global Compact through these avenues.

Looking ahead, the resolution anticipates the 25th anniversary of the UN Global Compact mandate in 2025 and acknowledges the exponential growth of its participant base, reflecting heightened private sector interest in advancing the Sustainable Development Goals (SDGs).

In addition, the resolution underscores the importance of gender equality, urging the Global Compact to promote the Women's Empowerment Principles and encouraging Global Compact Country Networks to raise awareness about the ways businesses can foster gender equality in the workplace, marketplace, and community.

During the session, Member States welcomed the adoption of the resolution, reaffirming their commitment to the principles and initiatives of the UN Global Compact.

UN Global Compact CEO & Executive Director Sanda Ojiambo expressed gratitude to the Member States for reaffirming their continued support for the UN Global Compact.“We deeply appreciate the trust placed in us to foster meaningful partnerships and promote responsible business practices globally. As we approach our 25th anniversary, we remain steadfast in our commitment to grow our global footprint and strengthen collaboration with the private sector to accelerate the implementation of the 2030 Agenda.”

The progress of these initiatives will be reviewed at the 82nd session of the General Assembly in 2027.

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