On 10 December 2015, the Economic and Financial Committee of the United Nations General Assembly adopted a resolution on the evolving strategic engagement of the UN in multi-stakeholder partnerships, including with the private sector.
The resolution, under General Assembly agenda item 27 (Towards global partnerships: A principle-based approach to enhanced cooperation between the United Nations and all relevant partners), reiterates the UN Global Compact’s broad mandate, which is to “to advance United Nations values and responsible business practices within the United Nations system and among the global business community”. In the same occasion, UN Member States encouraged the private sector to enhance its involvement in combatting climate change.
Therefore, UN Member States recognized “the vital role that the United Nations Global Compact Office continues to play with regard to strengthening the capacity of the United Nations to partner strategically with the private sector”. In this context, the resolution expressed support for the work of the UN Global Compact to encourage all businesses to adopt principles for responsible business and investing and to take account of the environmental, social and governance impacts of their activities.
Recognizing that the private sector has an important role to play in the implementation of the Sustainable Development Goals and Targets outlined in the 2030 Agenda for Sustainable Development, Member States also called attention to the Global Compact Local Networks as helping to facilitate partnerships with businesses on a broad scale and promoting sustainable development and the eradication of poverty.
The UN Global Compact’s progress on engaging the private sector to implement responsible business practices and support UN goals will next be reviewed in 2017.
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