On the 31st of January 1999, at the World Economic Forum in Davos, Switzerland, the then UN Secretary-General Kofi Annan proposed a Global Compact between the United Nations and the private sector:
“I propose that you, the business leaders… and we, the United Nations, initiate a global compact of shared values and principles, which will give a human face to the global market.”
-Kofi Annan
Today, more than 9000 companies around the world have embraced the pact. The United Nations Global Compact now covers over 70 local networks worldwide which serve as forums and avenues for engaging and liaising with member companies. The Global Compact Network in Nigeria currently consists of 132 member companies including Sterling Bank, the Premium Times Newspaper, Oando, Fidelity Bank, and Julius Berger. The UNGC has formed the basis for massive reform in corporate social responsibility all over the globe.
In line with the UNGC’s objective to encourage and facilitate conscientious business practices worldwide, the Global Compact Network Nigeria hosted a breakfast roundtable session yesterday titled ‘Bridging Nigeria’s Sustainable Development Gap’. The aim of the roundtable was to discuss key issues facing the financing of SDG implementation in Nigeria and to identify practical steps that could help remedy these problems.
Several business stakeholders were in attendance: representatives of a number of major companies, seasoned academics, professionals, and CEOs of reputable SMEs. But no personality was as impressive as the Emir of Kano, His Highness, Muhammed Sanusi II, who gave an incredible keynote speech on the current economic situation in Nigeria.
The Emir emphasised the astounding reality of 90 million Nigerians (almost half of our population) living in extreme poverty, with a personal story. The Emir told of a loud scream outside the royal palace, and the Emir sent an aide to investigate. The aide came back with tears in his eyes to report that while a mother was waiting to ask for financial assistance outside the palace, her sick child had died in her arms. The Emir was so moved by his recollection of this incident that he paused as his voice broke and tears ran down his face.
“This is what happens in our country every day. A woman can watch her child die in her arms because she doesn’t have 7 dollars… The children are my children. The people are my people.”
-Sanusi Lamido
The Emir’s speech was a resounding note to begin the breakfast roundtable on. A question and answer session with his Highness followed, in which Sanusi shed some light on the potential benefits of Islamic finance and the controversial Islamic law reforms he has spearheaded for some time now. After the Q&A session with his Highness, Lise Kingo, Executive Director of the UNGC, shared updates on how far we have come in achieving the 17 SDG Goals. Unfortunately, we are still a long way from meeting the 167 Key Performance Indicators that were set by the United Nations to measure achievement of Sustainability Development Goals. Climate change and social inequalities are major concerns. However, there is hope.
As Aigboje Aig-Imoukhede (co-founder Access Bank) noted in a contributory statement at the session, the UNGC has brought key players in the private sector to a higher level of awareness and collective responsibility in addressing sustainability issues. Aigboje’s comment was illustrated by the fact that several company executives at the breakfast roundtable were wearing “1.5°C” pins on their chests. The pins represent a commitment to setting company climate targets and implementing business operations that will limit global temperature rise to 1.5°C. After a panel discussion with seasoned professionals like Adewale Tinubu (Group Chief Executive, Oando Plc) and Solape Agagu-Hammond (Special Adviser to Governor Sanwo-Olu on Sustainable Development Goals) on the topic ‘Financing for the SDG’s’, Mrs. Bola Adesola (Senior Vice Chairman at the Standard Bank Chartered Group) gave closing remarks and a quick summary of the suggestions that had been made at the session:
- We must raise the level of our ambition;
- We must have a common objective;
- We must pinpoint what is needed for future generations
- We must raise the bar in urgency, and
- Every company must have sustainability as an agenda
The Global Compact Network Nigeria Breakfast Roundtable was held at the Wings Complex on Ozumba Mbadiwe Avenue, Lagos.
Featured Image Source: UN Global Compact
Sources:
UN Global Compact.
Forbes
Weforum
Dailytrust NG
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