UN Global Compact launches China strategy to drive sustainability

Greater engagement with Chinese companies and stakeholders supports the UN Global Compact Global Strategy 2021–2023 which aims to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the SDGs through accountable companies and ecosystems that enable change. It also represents the next step in the UN Global Compact’s ambition to enhance its reach and collaboration with the global South, UN China said in a media release.

Recognising Chinese companies as important contributors to advance the 2030 Agenda for Sustainable Development and working with national partners through its Liaison Office in China, the UN Global Compact aims to increase its impact by engaging key stakeholders in China to maximize their collective impact to achieve the SDGs both in China and globally through thought leadership, policy dialogues, capacity building activities, action-oriented projects, and innovative partnerships. It also aims to mobilise Chinese companies’ collective action and impact in supporting China’s development priorities as reflected in China’s 14th Five-Year Plan (FYP 2021–2025) and the United Nations Sustainable Development Cooperation Framework 2021–2025 for China.

Specifically, the China strategy identifies seven key areas, covering all Ten Principles of the Global Compact through which the UN Global Compact will maximise its impact: combat climate change; reduce inequalities; advance decent work; take collective action against corruption; engage the private sector through the Belt and Road Initiative to advance 2030 Agenda; strengthen South-South cooperation through China-Africa business collaboration on the SDGs and foster business innovation and SDG partnerships through the Global Development Initiative.

Launching the China strategy at the UN Global Compact Leaders Summit, Sanda Ojiambo, assistant secretary-general and CEO of the UN Global Compact said: “The Sustainable Development Goals cannot be achieved without China and the engagement of Chinese companies. As the fastest-growing market for the UN Global Compact in the Asia Pacific region, we have seen a rapidly growing number of companies from China stepping up to address regional and global challenges. We know that China’s development path is closely linked with other countries.

“With this strategy we have committed to maximising our impact in China through long-term investment and constructive collaboration with the private sector and key stakeholders. At the UN Global Compact, we stand ready to collaborate and support the Global Development Initiative, helping the private sector to fully align with recognised international norms and standards embedded in the Ten Principles of the UN Global Compact.”

Ambassador Zhang Jun, permanent representative of the People's Republic of China to the United Nations said: "China stands ready to strengthen exchanges and cooperation with the UN Global Compact. We look forward to enhanced ambition and actions by its members for the 2030 Agenda. Let’s jointly take actions to make greater contributions to global recovery and sustainable development."