Developing Countries: Sustainable Development

Department for International Development written question – answered on 16th April 2019.

Alert me about debates like this

Photo of Julian Knight Julian Knight Conservative, Solihull

To ask the Secretary of State for International Development, what steps she is taking to increase private sector involvement in delivering the global goals.

Photo of Harriett Baldwin Harriett Baldwin Minister of State (Department for International Development) (Jointly with the Foreign and Commonwealth Office), Minister of State (Foreign and Commonwealth Office) (Joint with the Department for International Development)

The private sector has a critical role to play in delivering the Global Goals. DFID is taking a number of steps to facilitate this, including:

- Harnessing the expertise, knowledge and resource of the UK private sector to deliver the Global Goals through the Great Partnership initiative.

- Supporting businesses to measure progress on delivering the Global Goals through our support for the World Benchmarking Alliance, launched in 2018, which will rank companies on their contributions to the Global Goals. We have also supported the Global Reporting Initiative, which helps businesses understand and communicate their impact on issues such as climate change and human rights.

- Supporting the UN Global Compact to encourage businesses to operate responsibly by aligning their strategies and operations in line with Ten Principles on human rights, labour, environment and anti-corruption.

- Investing up to £3.5bn of additional capital in CDC, the UK’s Development Finance Institution, which invests in businesses across Africa and South Asia to create jobs.

- Holding a National Conversation to find out more about the public’s views on how their savings and pensions can be invested in the Global Goals, while providing a financial return.

- Deepening our partnership with the City of London, through the Sustainable Development Capital Initiative, which is aiming to develop new investment products to mobilise private investment in developing countries to deliver the Global Goals.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.