UN Global Compact Launches New Business Guidance on Sustainable Infrastructure
Listen to this story:
During an event held in Beijing today with high-level representatives from government, businesses and academia, the UN Global Compact, the world’s largest corporate sustainability initiative, unveiled new guidance and assessment tools for companies to advance sustainable infrastructure under the Belt and Road Initiative (BRI).
Global Compact Ten Principles Applied in Infrastructure Sectors under the Belt and Road Initiative (BRI): A Practical Guide for Private Sector Players (Human Rights and Labor Principles, Environment Principles, and Anti-corruption Principle) and Maximizing Impact towards the SDGs: Guidance and Assessment Tool for Companies to Advance Sustainable Infrastructure under the Belt and Road Initiative examine the pivotal role of businesses participating in the BRI to innovate, drive economic growth, and harness resources to be the catalyst to ensure that infrastructure projects not only serve immediate needs but also pave the way for long-term sustainable development.
By shedding light on the relationship between the BRI and the Sustainable Development Goals (SDGs), the reports offer practical tools and insights for companies to ensure that their projects align with global sustainability trends, particularly the Ten Principles of the UN Global Compact covering human rights, labor practices, the environment and the fight against corruption.
Speaking during the launch event, Sanda Ojiambo, CEO and Executive Director of the UN Global Compact said: “Infrastructural development supports both economic growth and social development. It is therefore imperative that infrastructure projects are inclusive and sustainable and adhere to responsible business practices. These guidance reports and case studies will support businesses to ensure that infrastructure is a transformative platform for a more sustainable and inclusive world.”
The report is complemented by the release of the United Nations inaugural online platform Partnership Data Hub on Sustainable Infrastructure for the Belt and Road Initiative to Accelerate the Sustainable Development Goals and Private Sector Case Studies on Advancing Corporate Sustainability towards High Quality Belt and Road Cooperation to Facilitate the Implementation of the Sustainable Development Goals.
The High-Level Steering Committee meeting on the Action Platform also held today with 19 committee members from diverse backgrounds in terms of region, country, sectors, as well as gender and age group, including existing public sector leaders, business leaders, academics, multilateral institution, civil society and youth representatives, emphasized the crucial role that the Action Platform can play in advancing responsible business participation to accelerate the SDGs through infrastructure projects.
This work has been supported by the UN Peace and Development Fund (UNPDF) who facilitated collaboration between different stakeholders and provided essential resources to enable the project’s completion.