UN Global Compact Connects Business, Finance, and Policy at COP30
UN Global Compact Connects Business, Finance, and Policy at COP30
The UN Global Compact recently completed its significant engagement at COP30 in Belém, Brazil, spotlighting its role in connecting business, finance, government, and the UN system to propel climate action. The initiative, highlighted by the 13th Annual High-Level Meeting of Caring for Climate, was a pivotal platform for discussing credible transition plans and private-sector involvement in meeting the next generation of Nationally Determined Contributions (NDCs).
During the two-week event, the UN Global Compact set up a Business Hub within the COP Blue Zone. This hub served as a litmus test for translating ambitious global climate goals into actionable business strategies. One of the key opening events was a UN-organized side session focused on public procurement. This discussion, co-hosted by various UN agencies, underscored how aligning public procurement practices with climate objectives can significantly speed up efforts toward resilience and inclusion in economies, given that public procurement accounts for a notable share of GDP in many regions.
Discussions not only delved into the private sector's crucial role in contributing to what was termed
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