The UN Development Programme (UNDP), the UN Global Compact (UN Global Compact), and the International Chamber of Commerce (ICC) have established the ‘Covid-19 Private Sector Global Facility’, a global initiative and collaboration bringing together public and private sector partners to help local communities recover better from the pandemic.
Deutsche Post DHL Group, Microsoft Corp, and the PwC network (PwC) have already joined the Covid-19 Private Sector Global Facility, and the initiative is open for other like-minded private sector organisations around the world that want to contribute.
The global facility is a response to corporate calls to action for private sector leaders and governments to work together to address the negative impacts of the coronavirus pandemic. The initiative has been established to better co-ordinate their responses, helping to ensure that immediate stimulus efforts flow into the real economy.
The global facility will operate at both the global and national levels. It aims to co-create solutions that are tailored to the phase of the Covid-19 pandemic in a given area and the specificities of the local private sector and government context.
Guided by the UN Global Compact’s 10 Principles and the Sustainable Development Goals, the facility will support a multisectoral, whole-of-government and whole-of-society approach to face the multidimensional nature of the crisis.
Recovery efforts will focus on how to rebuild more inclusive economies and societies, to set a new course for a socially just, low-carbon and climate-resilient world where no one is left behind.
“Establishing the Covid-19 Private Sector Global Facility is an important step for engaging the private sector in the global efforts to fight this epidemic and minimises its impacts on global economy.
“This initiative aims to boost co-operation between international organisations and countries to help local communities recover better from the pandemic. It will help companies to combat the repercussions of this pandemic on businesses,” said Qatar Chamber and ICC Qatar chairman Sheikh Khalifa bin Jassim al-Thani.
“Solidarity to ‘Recover Better Together’ can boost our collective efforts not only to cope with the crisis but overcome it. UNDP's footprint across some 170 countries and territories, combined with the UN Global Compact’s network of more than 10,000 companies and 68 local networks around the world, and the International Chamber of Commerce's network of over 45mn companies, multiplies our collective capacity and potential. The facility is the first of its kind – designed to join forces across public and private sectors to serve humanity in an imperative moment,” said UNDP administrator Achim Steiner.
The Covid-19 Private Sector Global Facility was announced by Steiner at the SDG Business Forum during the UN General Assembly, the largest and most inclusive UN convening of private sector leaders.
Launched under the motto “Recover Better Together”, the timing of this initiative has special importance, marking the commemoration of some important UN-related milestones: the 75th anniversary of the founding of the United Nations, the 20th anniversary of the establishment of the Global Compact, and the centenary of ICC’s founding after WWI at a time when multilateralism is facing the greatest challenge of its generation.
Qatar Chamber and ICC Qatar chairman Sheikh Khalifa bin Jassim al-Thani.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
ECB paves the way for December stimulus as lockdowns return
Iraq’s crumbling economy becoming a threat to Opec+ production cut deal
Asian stocks fall after lockdowns spark rout
How US exchanges are prepared for possible post-election chaos
Oil prices slide as nations go into lockdown again
China pushes domestic economy and its tech power in five-year plan
Oil giant Shell rebounds into profit in third quarter
Qatar shares close down on global cues despite local buying support
QDB's ‘multi-faceted’ strategy helps SMEs amid Covid-19 crisis: CEO