Global Compact told to rethink its relation to the private sector and UN objectives

UN Secretary-General Ban Ki-moon has reiterated his organisation’s commitment to exploiting the private sector to advance international development, and demanded an expansion of the Global Compact to accelerate private sector involvement in its goals.

Addressing the organisation’s board at its last meeting of 2011, Ban Ki-moon called on the Compact’s board members to intensify efforts to advance public-private partnerships in support of development challenges.

“Sustainable development is our leading priority. The private sector is an integral partner,” Ban said, concluding that there is now a need for the Compact to go “the next level” by taking the partnership “full scale”.

“The initiative has matured,” he said. “Today, the challenge goes beyond having companies build the ten principles into their strategies and operations.

“We also want them to focus on the Compact’s second objective [to promote broader UN goals] and become an active partner in the UN’s broader mission.”

Ban, embarking on his second term as UN head, also stressed the importance of this summer’s Rio+20 conference on sustainable development as a chance to complete and consolidate its partnership with the private sector, asking that board reconstitute itself as a Global Compact Partnership Board.

“Public-private partnerships have the potential to deliver truly transformational, systemic change,” he said.

“Many of the solutions and innovations already exist. At Rio, let us fully utilise this historic opportunity.”