Small, Medium-Sized Enterprises Key to Entire Global Compact Strategy, Developing Nations Economies, Deputy Secretary-General Tells Impact Forum

Following is the text of UN Deputy Secretary-General Amina Mohammed’s video message to the Global Impact Forum, organized by the United Nations Global Compact, held today:

I am pleased to greet the second annual Global Impact Forum.  Participants in this Forum — business, Government, civil society and the United Nation — have an essential role in scaling up business ambition and action to achieve the Sustainable Development Goals.

Yesterday, we heard about the new Global Compact Africa Strategy, a bold approach to scaling up the collective impact of African business.  The Africa Strategy comes at a critical moment.  The African Continental Free Trade Agreement presents new opportunities through liberalization of trade in goods and services, promotion of free movement of people and investments, with the potential to catalyse growth and economic development through regional trade and value chains, as well as spur gains in the manufacturing and services industries, where small and medium-sized enterprises play a crucial role.

But, deepening inequalities and environmental and economic vulnerabilities worsened by the COVID-19 pandemic present profound challenges.  The Strategy recognizes an evolving African landscape of entrepreneurship and innovation, and the central role of business, especially small and medium-sized enterprises, in advancing the transitions that the SDGs [Sustainable Development Goals] and the Paris Agreement call for.

Indeed, small and medium-sized enterprises are key to the entire United Nations Global Compact Strategy for 2021 through 2023.  They comprise an enormous segment of the global economy, especially in developing nations.  That is why the new strategy aims to improve small and medium-sized enterprises’ access to international investment, markets and supply chains.

To boost support for responsible and sustainable businesses of all sizes, the Strategy also focuses on strengthening United Nations Global Compact Local Networks.  It also seeks to achieve balanced geographic growth by launching new local networks, particularly in the global South.

In every region, we need new ideas and talent to realize the vision of the United Nations Global Compact.  Earlier in today’s Forum, you heard from emerging business leaders in the Young SDG Innovators Programme.  Their fresh perspectives and breakthrough innovations are changing the face of sustainable business.  I know they will help us meet great ambition with effective action.  Let us move forward together in that energetic spirit, united for a better world.  Thank you.