Federation of Saudi Chambers Strengthens Sustainable Development Efforts through Hosting Agreement of Global Compact Network Saudi Arabia

Recognizing the importance of corporate sustainability to accelerate the 2030 Agenda and its 17 Sustainable Development goals through private business activity, the Federation of Saudi Chambers announced its commitment to support UN Global Compact efforts through the signing of a Hosting Agreement of the Global Compact local Network Saudi Arabia.

The Global Compact Network Saudi Arabia was formally launched with the support of the Office of the United Nations Resident Coordinator on Wednesday, 1 September 2021 joining the other 69 Local Networks of the UN Global Compact spanning the globe.

The establishment of Global Compact Network Saudi Arabia has been part of UN efforts to broaden the scope of engagement with the private sector, to promote long-term sustainable partnerships aligned with the 2030 Agenda and Vision 2030.

Since 2015, there has been a substantial increase in the number of companies that are able to measurably demonstrate the transformative impact of their technologies, products, services, and business models.

Global Compact Network Saudi Arabia has already attracted 36 leading Saudi corporates whose purpose is to facilitate balanced and sustainable economic, social and environmental development in accordance with the United Nations Global Compact’s Ten Principles.

The Launch in Saudi Arabia is particularly important because of the size of the economy and the opportunities the country has to drive advancement in sustainable development at a regional and global scale. We are pleased that with launch in KSA, the UN global compact is firmly established in each of the G20 countries.

The Network’s mission in Saudi Arabia is to provide the private sector with necessary guidance to ensure that they recognize the role of business in the achievement of the Sustainable Development Goals (SDGs) and to create high-impact collaborations.

“The private sector, with its unparalleled reach, has the capacity to be a key driver to achieve the objectives of the 2030 Agenda.

I commend the Federation of Saudi Chambers for hosting this local network, and I would like to express my gratitude to H.E Minister Al-Qasabi, the Chairman of the Federation of Saudi Chambers Mr. Ajlan Al Ajlan and the Secretary General Mr. Al Abdulkader, for all the trust and support to the Local Network.” UN Resident Coordinator, H.E. Nathalie Fustier stated.

“In line with the vision 2030 and sustainability initiatives led by HRH prince Mohammed bin Salman to position Saudi as a pioneer in advancing global sustainability, it is a key achievement to have the UN Global Compact launch its network in Saudi Arabia. The timing couldn’t be more perfect to have businesses operating in Saudi Arabia joining the network to align their sustainability efforts with the UNGC 10 principles on Human Rights, labor, environment, and Anti-corruption as well as the 17 Sustainable Development Goals to push forward the country’s sustainability agenda” stated Mrs. Maryam Telmesani, Chair of the Global Compact Network Saudi Arabia.