2026 SDG Global Business Forum - Business and the Real Economy: Delivering Sustainable Development in a Changing Global Context
Economic and Social Council
Date: 14 July 2026
Language: English
Transcript: https://transcripts.un.org/en/asset/k1z/k1z5j22ljx
Transcripts available through this tool are created by using automatic speech recognition and are not official records nor official documents of the United Nations. Official records and official documents are available on the Official Document System of the United Nations.

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Moderator · Rachel Dumba [0:02]:

Okay, good morning, good afternoon, and good evening to all participants joining us from around the world. Distinguished speakers, Excellencies, colleagues, and guests, welcome to the 2026 SDG Global Business Forum. I am Rachel Dumba, dialing in from Uganda, and it's my honor to moderate today's forum on Business and the Real Economy: Delivering Sustainable Development in a Changing Global Context. Kindly note that today's session is being broadcast publicly via UN Web TV. This business forum takes place alongside the 2026 High-Level Political Forum on Sustainable Development as one of its special events. Our discussion today will focus on how business action can help turn sustainable development commitments into real economic opportunities, resilient industries, decent jobs, and improved services for communities. The forum is co-convened by UN DESA, the UN Global Compact, and the International Organization of Employers. With UNIDO joining as co-organizer this year, we thank you all. We will begin with opening remarks and keynote reflections. It is now my pleasure, ladies and gentlemen, to invite Miss Sandra Ojambu, the Assistant Secretary General, CEO, and Executive Director of the United Nations Global Compact, to deliver her opening remarks. Thank you very much. Ms. Sanda, over to you.


UN Global Compact · ASG, CEO and Executive Director · Sandra Ojiambo [1:52]:

Thank you very much, Rachel, and good morning, good afternoon, good evening to you, Excellencies, business leaders, and distinguished guests. It's such a pleasure to join you today during this high-level political forum period, and many thanks indeed to our co-hosts, the UN Department of Economic and Social Affairs, DESA, the International Organization of Employers, IOE, and the UN Industrial Development Organization, UNIDO, for bringing us all together for this discussion. It's particularly inspiring to kick off our dialogue alongside 2 leaders who understand exactly what it takes to move capital to where it matters most. Mr. Samaila Zubairu, who's the President and the CEO of the Africa Finance Corporation, he's a longstanding partner and a champion for mobilizing capital on and for the African continent. And Ms. Umut Şahin-Metova, who is the CEO of Hikbank, and she also serves as the Chairperson of our UN Global Compact Central Asia Network Board. We recently launched our network in Central Asia. So we're all here today because we share a fundamental understanding that responsible business is the most powerful driver for building economies, for strengthening market resilience, and for driving sustainable growth and long-term value. And we know that there's an immense potential for business value and return on investment, or ROI, on emerging and developing markets. In fact, many fast-growing emerging economies are projected to drive global growth with particularly high ROIs in sectors such as energy and infrastructure. These are central to the HLPF review of the SDG progress during this period. The focus of this gathering is some of the SDGs identified for review during the High-Level Political Forum: water, energy, industry, cities, and partnerships. And they all speak to the heart of economic transformation and economic resilience. Through a private sector lens, ladies and gentlemen, the numbers could not be clearer. We know that continuing business as usual will cost 5 times as much the investment needed to address the global water crisis, but bridging the investment gap will add trillions to economies worldwide and create more than 200 million jobs. In the energy sphere, we know that 90% of new renewables are cheaper than the lowest-cost fossil fuel alternatives, and clean energy investment is attracting almost twice as much as fossil fuel investment, building energy security and providing close to 30% and growing of global power. We know that cities are crucial for generating global GDP, and their transformation is important for accelerating real and lasting progress. But yet we know that as global crises multiply, the SDGs and the opportunities that they present are slipping further beyond reach. As we'll hear during this high-level political forum and stocktake, just 36% of SDG targets are on track or making moderate progress. The UN Secretary-General, António Guterres, has reminded us and challenged us, our mission is moving forward, and this is both urgent and clear. The task ahead is to accelerate progress at scale and speed. And the good news, and why this SDG Business Forum is so important, is that business is uniquely positioned and qualified with the reach, the innovation, and the resources to advance this mission. We know that no business sector can do this alone, and meaningful multi-stakeholder multilateral collaboration is the only way forward. The UN Global Compact, with our close to 23,000 participating companies, can help put this into practice. Let me reflect briefly on platforms like the UN Pact for the Future and the 4th International Conference on Financing for Development. They provide the framework needed to mobilize private equity, to restructure debt and de-risk the massive cross-border capital flows that are essential for funding sustainable transitions. At FFD4, there was a strong call to action for business to unlock private capital by expanding catalytic and blended finance, by partnering closely with governments and multilateral development banks to develop and fund investable, bankable project pipelines, to align sustainability regulations across borders, and to shift the corporate focus away from short-term returns towards long-term resilience. My dear friends, we know that the ambition alone will not close the $4 trillion annual gap to finance the SDGs. To address this shortfall, our CFO Coalition for the SDGs supports financial leaders to align strategy, capital expenditures, and market engagement with sustainable development. They have successfully converted momentum into market signals and market signals into transactions for sustainable development growth. And later in today's discussion, you'll hear how our UN Global Compact networks in Italy and Tanzania are accelerating SDG progress on the ground and bringing a business voice to the voluntary national review process. We will also present a new brief on how business and the UN can deliver on the Pact for the Future developed by the Action 55C task team and coordinated by the UN Global Compact on behalf of the UN Secretary-General. This brief will outline practical pathways to increase business engagement and accountability towards our shared global goals. My dear friends, the transition ahead is indeed complex, but the greatest opportunity of our time lies ahead of us, and this is the opportunity to channel finance and investments where they are needed most for the prosperous and sustainable, responsible business environment and sustainable future that we all want. So on behalf of the UN Global Compact and our family, I want to thank you all, And I truly look forward to the discussion ahead. Over back to you, Rachel. Thank you. I see Rachel has stepped away. Allow me please then take the honor to welcome Ms. Umud Shaemetova, who, as we said, is the President of Khalid Bank, also the Chairperson of the United Nations recently launched UN Global Compact Central Asia Network, to provide some remarks. Over to you, please.


UN Global Compact · Chairwoman of the Board · Umut Şahin-Metova [8:18]:

Dear Sandra, Your Excellencies, dear ladies and gentlemen, it's a big privilege to address you today as the Chairwoman of the Board of the UN Global Compact Network Central Asia. The defining question of our generation is not whether we can solve the world's greatest challenges, it's whether we are willing to solve them together. Climate change, resource security, inequality, and economic transformation do not recognize borders. Partnership is no longer an option, it is the only path forward. When I assumed the role of a chairwoman, I set a clear objective: to bring together the private sectors of all 5 Central Asian countries around a shared vision of sustainable development. Our countries have different strengths, But our future is very interconnected. When Central Asia moves forward together, every nation in the region becomes stronger. For many years, Central Asia was viewed as a bridge between continents. Today, it's becoming something far more important— a bridge between global ambition and practical action. We connect Europe and Asia, possess abundant natural resources, have dynamic economies, and most importantly, a young generation determined to shape a more sustainable future. That is why we welcome the establishment of the UN Regional Center for Sustainable Development Goals for Central Asia and Afghanistan in Almaty, an initiative first proposed by the President of Kazakhstan, Kassym-Jomart Tokayev, and now becoming an important platform for governments, businesses, the United Nations, and development partners to transform shared ambition into measurable impact. One challenge, however, unites every country in our region. It's water. Water insecurity is no longer simply an environmental issue. It is a matter of economic resilience, food production, energy security, and the well-being of millions of people. No country can solve it alone. It requires trust, cooperation, and long-term commitment. This is where business, and especially the financial sector, has a unique responsibility. Capital is one of the most powerful forces shaping our future. Every investment is a decision about the world we choose to build. By directing finance toward resilient infrastructure, sustainable agriculture, digital water management, climate innovation, and green technologies, we can accelerate progress toward the Sustainable Development Goals. We also believe that projects generating measurable environmental and social impact should receive stronger incentives. Mobilizing private capital at scale will determine whether we achieve the ambitions we have set together. But sustainable development is also about people. Infrastructure can transform economies, technology can accelerate progress, but only people create lasting change. That is why empowering women is very important in our region. When women have access to finance, education, leadership opportunities, and entrepreneurship, entire communities prosper. Supporting women is not only a matter of inclusion, it's an investment in stronger economies, greater innovation, and more resilient societies in our future generations. The scale of today's challenges demand a new model of cooperation. Governments, businesses, international financial institutions, development banks, technology companies, academia, and civil society must work not as separate actors but as partners pursuing shared outcomes. Guided by this vision, we are launching the first Central Asian Sustainable Development Goals Forum this autumn. Our ambition is to create a permanent regional platform where governments, business leaders, the UN system, international financial institutions, and development partners move beyond dialogue toward concrete partnerships and joint actions. We warmly invite all of our international partners to join us. I am convinced that the future belongs to those regions that choose cooperation over competition, trust over division, and long-term vision over short-term gains. This is the Central Asia we are choosing to build together, not only for our region but for the achievement of the Sustainable Development Goals. History rarely remembers those who simply witness the change. It remembers those who actually choose to build it together. Central Asia has made its choice. Thank you very much.


Moderator · Rachel Dumba [13:46]:

Thank you, thank you very much, Ms. Umut. This is greatly appreciated. Your intervention brings us directly to the heart of the real economy, how finance, confidence, regulation, and partnerships determine whether businesses can invest, innovate, and grow sustainably. We thank you.


UN Global Compact · Chairwoman of the Board · Umut Şahin-Metova [14:07]:

Thank you.


Moderator · Rachel Dumba [14:08]:

Ms. Sanda, allow me to thank you as well. Thank you very much for setting the tone so clearly. You reminded us that business action must be measurable, responsible, and aligned with the priorities of the people, of the planet and people. That is precisely the bridge we need today from ambition to implementation, and from engagement to accountability. Dear audience, allow us to move to our panel now. We will go back to the keynote address once Mr. Zubayra, the CEO and President of Africa Finance Corporation, joins us. But allow us to move into our first panel discussion where SDG 9 is framed as production engine of the 2030 Agenda. This is an important framing. Industry, innovation, and infrastructure are not technical issues only. They determine whether economies can create jobs, compete, trade, decarbonize, digitize, and build resilience. For employers and businesses, question is not whether transformation is coming. It is already here. Supply chains are shifting. Artificial intelligence is changing production and services. Climate pressures are reshaping investment decisions. Industry policy is returning, and development finance is under pressure. The question before us is therefore practical. How do we ensure that these transformations expand opportunity rather than deepen divides. I will invite each speaker to make an initial intervention of approximately 4 minutes. After that, we will have a short rapid-fire, a short rapid-fire round to identify the most important policy enablers for business contribution to SDG 9. Panelists have 4 minutes each for their primary intervention. followed by a 1-minute rapid-fire round. Joining me on the virtual screen are our distinguished panelists. We have Mr. Eddie Rubí, who is the Secretary of State for Economic Development, Honduras. Gabriel, I hope Mr. Rubí, His Excellency Mr. Rubí, is online. Gabriel, just give me a hands up if he is.


Gabriel [16:49]:

Yes.


Moderator · Rachel Dumba [16:51]:

Okay, excellent. Thank you very much. We then have Ms. Fatou Heydara, who's the Deputy to the Director-General and Managing Director of the Directorate of Global Partnerships and External Relations with UNIDO. You're most welcome, Ms. Fatou. We have Ms. Sarul Belgan, who's the Secretary-General of the Mongolian National Chamber of Commerce and Industry. You're most welcome, Ms. Bilge. Finally, we have Ms. Hanane Mochid, who's the Managing Director in charge of Sustainability and Green Utilities, OCP Group of Morocco. We kindly request our panelists to put their videos on so that our viewers more than The 100 people online can see you, and thank you very much. We'll start with His Excellency, Mr. Rubi. If you could please speak to us, how do we— question to each of you is, how do we ensure that these transformations expand opportunity rather than deepen divides? Thank you very much.


Honduras · Secretary of State for Economic Development · Eddie Rubí [18:05]:

Thank you for the opportunity to be here and to represent my country in the SDG 9 Forum. It's a real pleasure to be here. Well, when I became Honduras' Minister of Economic Development, I found a reality that concerned me. It was that Honduras has talented people, dynamic entrepreneurs, and sectors with tremendous potential, but yet the government had mainly become a regulator, a processor of paperwork instead of an active partner in industrial development. That's when the team that, that was in head of the secretary, we decided to change our approach, and we created a new vice ministry for competitiveness and industrial innovation. And it's expected to become operational in just 15 days, on August 1st. And it was not created to produce, to produce another policy document or But to build a permanent institutional capacity that promotes industrial development, coordinate stakeholders, and support implementation. And perhaps the most important change, however, is not institutional but methodological. We are not designing this industrial policy from a government office or an agenda imposed by international organizations. We're building it together with the private sector by engaging chambers of commerce, industry associations, and most importantly, by listening directly to the businesses across the country to understand the challenges, opportunities, and needs. We believe that industrial policy can only succeed when the companies that invest, innovate, and create jobs are active partners in its design. So for us, the modern industrial policy means creating an environment where business can invest with confidence, innovate, and grow. It means also simplifying processes, connecting companies with suppliers and new markets, developing talent and strengthening infrastructure, and ensuring reliable energy. And we're also working with the energy grid in the country to, to, to be stable for the new companies and the new innovations. Our partnerships with UNIDO to the programming for country partnerships has been instrumental. UNIDO contributes technical expertise, international experience, and And proven methodologies. That is important for us, that the proven methodologies, uh, while Honduras provides the vision or the leadership and the commitment for the implementation, and the companies provide with the information needed to design all this, uh, policy. So our vision is to move from exporting mainly raw materials to to exporting higher value-added products. We are strengthening our agribusiness, promoting industrial eco-parks. That is important for us, the industrial eco-parks. And we're integrating both large companies and also small companies that the producers— and we're trying to put in the value chains or the commerce in the country. And at the same time, we recognize that industrial policy in the 21st century must also prepare the country for the digital economy. We're creating the conditions to attract investment in technological infrastructure, data centers, and artificial intelligence-related industries. So for us, industrial development also depends on— I mentioned it before— on reliable energy. Honduras is making huge investments in firm and also renewable generation of energy because competitive industries require dependable power. My message is simple. Honduras is creating the conditions to become one of the most attractive investment destinations in Latin America. Or strategic location, access to oceans, a US-certified port. It's the biggest market in the world. We are just 3 days away in a ship delivering the products if you produce here. And nearshoring is important, but most important is the young workforce and the opportunity created by nearshoring places. Here in Honduras. So we invite investors, businesses, and international partners to become part of Honduras and this industrial transformation. So we believe the best time to invest in Honduras is right now. So that's what we want to share to the world.


Moderator · Rachel Dumba [23:29]:

Thank you very much, Mr. Minister. Your remarks highlight the importance of industrial policy that is grounded in national realities and designed with the private sector. I also take from your intervention the importance of integrating MSMEs into value chains and using partnerships, including with UNIDO, to move from strategy to implementation. So we thank you very much for your remarks. I will now turn to you, Ms. Fatou Haidara. UNIDO works closely with both governments and businesses. How do you see the role of businesses in advancing sustainable industrialization, and can you share some examples of how UNIDO is partnering with companies to turn ambition into action?


UNIDO · Deputy to the DG and Managing Director · Fatou Haidara [24:18]:

Thank you.

Thank you, Rachelle. Good morning, good afternoon, good evening. Happy to be here. Before answering your question, let me first thank our partners, UNDESA, UN Global Compact, and the International Organization for Employers for the excellent cooperation in organizing this event. You know, UNIDO's mandate is inclusive and sustainable industrial development. And when you talk about industrialization, you talk about investment, you talk about technology, you talk about greening. So because of that, private sector is a key partner of UNIDO because private sector is the one who invests, private sector is the one who innovates and creates jobs. UNIDO, we work with micro, medium, small, enterprises. We also partner with industrial association— industry associations, and also the multi— multinational corporations. And it's because we recognize that the private sector is the key driver of industrial transformation. We working with the private sector, it's, uh, we leverage their expertise, their resources, their technology to help solve complex challenges of today. But we don't work only with private sector. We also work with governments to make sure that the private sector have the enabling policy and institutional environment. for them to thrive. So when we think about the future of industrialization, one could say that the private sector is already at the heart of ongoing transformation, reshaping global economy from AI, green transition, and the restructuring of the global supply chains. So When we work with the private sector to co-create solutions, markets, value chains that will shape the future of sustainable industrialization. As I said before, our work is done in a holistic way. We combine policy advice, our technical expertise, our convening power, and also building up a robust portfolio of flagship initiatives. Yes, Rachelle, you asked me some, some examples. I will give you a few of them. The first example that is relevant to today's discussion is our Global Alliance on AI for Industry and Manufacturing. This is a digital sphere. It brings together industry leaders, governments, academia, and innovators to leverage AI-driven manufacturing and bridge the digital divide. Another example is our centers of excellence in China, in Belarus, Armenia, Serbia, and other countries. These are hubs that connect global technology providers with local SMEs, building skills and accelerating AI adoption. Another example is our partnership with IBM. We are developing their AI and Digital for Industry Navigator. This is an AI-powered tool that assesses countries' readiness and maps out their next steps. I have another example, but to introduce that one, I would say that technology advancements must go hand in hand with sustainable practices. So this example is about our Fair Share program, and through this program, we are making supply chains more sustainable by promoting fair value distribution, skills development, green practices, greener practices, and greater transparency. And this includes our SWITCH program, and this is in partnership with the EU multinational companies on pilot projects demonstrating exactly how supplier SMEs can adopt circular economy practices within targeted value chains. So, these are some concrete examples, but In summary, you know, we cannot solve today's challenges alone, no institution alone. But I would also say that industrial development cannot be done without the private sector. So private sector is key partner for UNIDO. I thank you. Over.


Moderator · Rachel Dumba [29:50]:

Thank you very much, Ms. Haidara. That was very insightful. We'll now turn to you, Ms. Hanan, uh, Mochid, uh, let me now turn to you from the perspective of OCP Group. Could you please share some—

Please proceed, Miss Hanan.


OCP Group · Managing Director in charge of Sustainability and Green Utilities · Hanan Morshid [30:18]:

Hello, everyone.


Moderator · Rachel Dumba [30:24]:

You may proceed, Ms. Morshid.


OCP Group · Managing Director in charge of Sustainability and Green Utilities · Hanan Morshid [30:27]:

Thank you so much.

Thank you, Ms. Rachel, and all the honorable audience. I'm Hanan Morshid. I'm in charge of sustainability and green utilities within OCP, the world-leading fertilizer producer, and I'm very happy to be part of this panel. So at OCP, advancing SDGs, in particular the SDG 9, is not a separate agenda. It is embedded in our business strategy, in our investment decisions, and in the way we create long-term value. This comes naturally as we operate in what our chairman calls the economy of life. We are providing nutrients for the soil to feed the planet. We're bringing phosphorus to life. This is our mission. So our core mission then is to contribute to the global food security by providing plant nutrition solutions that enable sustainable and resilient agriculture for a growing world population. This means that our sustainability ambition is not disconnected from our business. It's even shaping the future of our business. In fact, many of the challenges we face in achieving our sustainability goals have become opportunities to create new businesses or new wealth with compelling economic, environmental, and social value. Let's take one most valuable example for us. It's about water. Operating in one of the world's most water-stressed regions, we could no longer rely on conventional water resources. This challenge drove us to invest massively in desalination and water reuse using renewable energy and clean energy. Today, OCP operates entirely on non-conventional water for our industrial activities, while we are also contributing to supply 4 big cities in our country with more than 400 million cubic meters of desalinated water produced per year. This capacity was built in almost 3 years. Half of it goes to the community and the other half to industrial needs of OCP. So actually, what started as a sustainability imperative has become a strategic asset that strengthens both our operational resilience and Morocco's water security. The same applies to energy. Decarbonizing our operations require us to fundamentally rethink our energy model. This had led to think and to invest at scale in renewable energy, getting advantage from the wonderful resources that we have in Morocco in terms of solar capacity and wind potential. Today, we are operating the biggest solar photovoltaic farm in operations in Morocco. It's around 200 megawatt capacity, not only to reduce our carbon footprint, but also to enhance our long-term competitiveness by reducing our dependence on fossil fuels and exposure to energy market volatility. We see the same opportunity with the green hydrogen and green ammonia developments beyond decarbonizing fertilizer production, since we are a big importer of ammonia in the world. But the hydrogen, green hydrogen technology, and electrolysis have the potential to create entirely a new industrial value chain in our country, strengthen our resilience, and position OCP as a competitive player in the emerging green economy. In many ways, this is exactly what SDG 9 calls for, using innovation, sustainable industrialization, and resilient infrastructure not only to address today's challenges but also to create the industries and value chain of tomorrow, to collaborate. And I'm very happy also to say that we— one of our biggest partners is Unido, indeed, on the decarbonization of the value chain and the agriculture. This illustrates an important point: achieving the SDGs is not about adding sustainability to existing business models. It is about redesigning business models so that solving sustainability challenges creates economic value industrial resilience, and long-term competitiveness. However, companies cannot deliver on this transformation alone. First, we need policy frameworks that recognize the specificities of different sectors. The phosphate sector is not the nitrogen sector, the fertilizers is not the cement, etc. So we need this customized framework and recognition of difficulties in order to move forward. The transition pathways of hard-to-abate industries differ significantly from those of other sectors, and public policies must provide the predictability and tailored initiatives needed to support the long-term industrial transformation. Second, we need to mobilize innovation and innovative financing, particularly blended finance, to help scale capital-intensive technologies like electrolysis, for example, that are essential to the transition. Third, we need to strengthen the partnerships across value chains and across industries. The greatest opportunities often lie at the intersection of sectors where industrial symbiosis can unlock new efficiencies, accelerate innovation, and maximize the value created by the transition. Ultimately, delivering the SDGs required moving beyond isolated initiatives, moving towards scale, toward globalization and global initiatives and integrated ecosystems where governments, businesses, financial institutions, and academia jointly design, invest, and scale the solutions of tomorrow. Thank you.


Moderator · Rachel Dumba [36:55]:

Thank you very much, Ms. Mochid, for your great insights. We will now move on to Ms. Bolgan, last but not least. Ms. Bolgan, as Secretary-General of the Mongolian National Chamber of Commerce and Industry, you sit exactly at the intersection of private sector reality and public policy. Given Mongolia's unique strategic position in regional trade, how can landlocked or developing economies effectively leverage the return of industrial policy to integrate their SMEs into shifting global value chains? Thank you.


MNCCI · Secretary-General · Sarul Belgan [37:38]:

Thank you, Rachel. So, good day, everybody. And first and foremost, allow me to thank our colleagues at the UNGC and also International Organization of Employers. And Rachel, thank you for this important question. And as we know, the global economy is undergoing a profound transformation. Geopolitical tensions, climate change, and competition over strategic technologies and resources have accelerated what many now call the return of industrial policy. And this represents a shift from a purely market-driven approach toward more active government involvement through strategic investments, incentives, regulations, and partnerships to secure critical supply chains, support green transition, and strengthen national competitiveness. And this happens in Mongolia as well. And this changing environment creates both challenges and opportunities for us in Mongolia. The challenge is that competition for investment and integration into global value chains is becoming more strategic. And the opportunity is that countries with unique resources like us and human capital and strategic advantage can position themselves as reliable partners in a new global economy. And from Mongolia's perspective, our key priority is to transform our geographic position, being landlocked but heavy in mining resources advantages, into sustainable economic opportunities. So we're a landlocked and developing economy, and we call ourselves an oasis of democracy in this part of the world. And the government announced recently 14 megaprojects to develop through public and private partnerships. For example, we have French in our uranium sector, we have Indians in our oil sector, and we've just now signed a strategic agreement with Korea. and seeking their investment in our critical minerals sector as the world accelerates the green transition and demand grows for minerals required for renewable energy technologies, electric vehicles, battery production. So we are approaching these in a multifaceted order. And another point I want to make is that in Mongolia, we have approximately 55,000 operative companies, of which 75% are SMEs. And SMEs are backbone of our economy. We create employment, innovation, and local value. And importantly, as also mentioned earlier, approximately 40% of these SMEs are led by women, and which demonstrates the important role of inclusive entrepreneurship in Mongolia's economic development. Therefore, when we discuss industrial policy, we should not only focus on large-scale investments or major corporations. We must ensure that SMEs are connected to these new value chains. The success of industrial policy should be measured not only by how much foreign investment we attract, but also by how many local businesses, entrepreneurs benefit from these investments. And from the perspective of the Chamber of Commerce, our role is to ensure that SMEs are not left behind in this transformation. Chambers can act as a bridge between government policy and business reality, and we can provide policymakers with feedback from enterprises and help design industrial policies that respond to actual market needs. And secondly, we need to help SMEs to improve their competitiveness by supporting access to finance, technology, international standards, digital transformation, and green practices. I think this has been also mentioned earlier. And global value chains increasingly require suppliers to meet higher standards in quality, sustainability, and transparency. And for Mongolia, the pathway is clear: leverage our strategic resources, strengthen our SMEs, invest in energy security, in human capital, and ensure that integration into global value chains creates sustainable and inclusive growth for our people. I will wrap it up here and looking forward to the next question. Thank you.


Moderator · Rachel Dumba [41:56]:

Thank you very much, Ms. Volgen, and thank you to all our panelists. Taken together, the message is clear: SDG 9 will only be delivered through coherent policy, responsible investment, strong institutions, and businesses that are enabled to innovate, grow and create value in the real economy. Our panelists, I'll take you through to our next round, and you each have 1 to 2 minutes. Thank you very much for your excellent points. I'll start with you, Ms. Haidara. Looking ahead, what will it take to accelerate progress on SDG 9 and sustainable industrialization?


UNIDO · Deputy to the DG and Managing Director · Fatou Haidara [42:45]:

Thank you, Rachel. We are in a context where the development aid is shrinking. We have a massive financing gap for the SDGs. So within this context, mobilizing private investment is no longer an option, it's a necessity. You asked me the question what it takes to accelerate progress. One important element is partnerships. As I said before, no one alone can solve the challenges, so we need partnerships, but these partnerships should be coordinated. Here also, I will give some examples of how we work to strengthen this partnership with the private sector as well. The first example is what we have called Enido Investment Platform. This connects global investors to bankable projects. in developing countries. So that also helped to de-risk early-stage investment. My second example is the UNIDO Foundation. It provides a mechanism for businesses and philanthropic partners to engage with the work of UNIDO. My last point is a program, what we call Program for Country Partnership. Actually, we have such a program with Honduras. The idea is to bring all the partners around the table to support government to implement their priorities. So this is how we work, and I think that this mechanism and strong partnership will help us to accelerate progress. in the current context. Thank you. Over.


Moderator · Rachel Dumba [45:01]:

Thank you. Thank you, Ms. Haidara. I will now turn to you, Mr. Minister. Sir, if you could leave the audience with one key message, what would it be about the role of partnerships between governments, private sector, and organizations such as UNIDO in accelerating sustainable industrial development and achieving the SDGs? Thank you, sir.


Honduras · Secretary of State for Economic Development · Eddie Rubí [45:27]:

It is a question for me? The question?


Moderator · Rachel Dumba [45:30]:

Yes, Mr. Minister.


Honduras · Secretary of State for Economic Development · Eddie Rubí [45:32]:

Okay, thank you.


Speaker 24 [45:34]:

Sorry.


Honduras · Secretary of State for Economic Development · Eddie Rubí [45:36]:

No problem.

Well, if I could leave one final message, it would be that no government can transform a country on its own. Neither can the private sector, academia, or international organization acting separately could bring real progress. Real progress happens when every partner contributes its strength within a shared vision. That's how we're planning to do this industrial policy, and as we're constructing it from the very low ground. And the first 2 months that I arrived in the, in the, in the secretary— as a Secretary of Economic Development, I visit all almost 62 different industries in just 2 months. And what I found out is that one of the biggest challenges that business leaders can— is that they get caught up in the day-to-day operations. They're busy making payroll, dealing with suppliers, solving operational issues, and keeping the business running. And by the end of the day, there's very little time left to step back and think about innovation. So that's what we're planning to do, help them innovate. That's where we believe the government can play a different role, not only by regulating the private sector, but acting as a catalyst where we can help identify new business opportunities, connect companies with new customers, and we're already doing it. I mean, connecting some business with other business that does this and other business do the part that is required in the other business, but they did not know each other. And that's why we're planning to facilitate partnership and create the conditions for innovation to happen. So government should provide the direction and create rules. The private sector is bringing the investment and innovation. Your university develops talent, and your organization, just UNIDO, contributes with global expertise and technical cooperation. So together, this partnership makes sustainable industrial transformation possible. So ultimately, success will be measured, at least in my country, when young Honduras find skilled, well-paying jobs. And are not planning to emigrate to other countries. This is a big problem for us because we are— some very talented persons are leaving the country. And so we want to create this, this business environment where they can grow. And that is how industrial policy truly contributes to sustainable development. Thank you, everyone.


Moderator · Rachel Dumba [48:40]:

Thank you, Mr. Minister, and I will turn to you, Ms. Volkan, now. And my question to you is, what is the single most important policy enabler or obstacle to remove if business is to contribute more effectively to SDG 9 over the next 4 years?


MNCCI · Secretary-General · Sarul Belgan [49:00]:

Thank you. And I think I somehow repeat Armine's Haidara and Mr. Roubi. But if I had to identify one policy enabler, it would be a permanent and effective mechanism for cooperation between government and businesses. Working across both business and policy, the difficulty is really not lack of ideas. Governments have strategies and businesses understand many of the obstacles holding back investment and innovation. But industrial policy must be based on partnerships. Governments alone cannot create competitive industries, as said earlier, and success requires cooperation among governments, businesses, financial institutions, international organizations, and for that matter, chambers of commerce, which are us. And too often consultation happens only after a policy has been designed, or in other cases, business concerns are heard but they're not followed up. They're just comments in the air. And a more effective approach would involve business from the beginning identifying barriers, helping to shape practical solutions, and reviewing whether these solutions are actually working. And this is particularly important for our SDG 9 because infrastructure, industrialization, and innovation are really closely connected. And the Chambers of Commerce can help connect these elements together. We can bring evidence from business into policymaking, support firms in adopting technology and standards, and help turn national priorities into practical opportunities for enterprises. And one last message: the most important step to take public-private dialogue a regular part of policy design and implementation and not an occasional consultation. Thank you very much.


Moderator · Rachel Dumba [50:54]:

Thank you very much, Ms. Volkan. And our final question is to Ms. Mochid. And looking ahead, what is one key message you would like stakeholders to take away about strengthening public-private partnerships for sustainable development?


OCP Group · Managing Director in charge of Sustainability and Green Utilities · Hanan Morshid [51:16]:

Thank you, Mr. Rachelle. I think that public-private partnerships have the potential to become one of the most powerful accelerators of sustainable development, but only if we move beyond individual projects. And focus on building industrial ecosystems that are sustainable, competitive, and resilient. This is very important. So today's challenges are climate, food, water, energy, and industrial developments. They are deeply interconnected. They cannot be addressed in silos. We need partnerships that bring together governments, businesses, financial institutions, academia, and even civil society deliver alone. Ultimately, success should be measured not by number of projects, a trick that we often use, but it's not relevant for me. And even the financial— the financing mobilized is not good in the performance indicator. It should be measured by the ecosystem that— so in 3 essentials. First, flexible frameworks. Second is catalytic financing. Many breakthrough solutions, successes, etc., they require blended finance to reduce risk and scale faster. So we need to enable that. And the third is ecosystem collaboration. The biggest opportunities emerge when governments, industry, financial institutions, academia, startups work together across the value chain. So I think that when these 3 elements— means policy, capital, and partnerships— come together, sustainability becomes not just an environmental ambition but a powerful driver for innovation, competitiveness, and long-term economic growth. Thank you.


Moderator · Rachel Dumba [53:28]:

Thank you. Thank you very much, Ms. Muchid. Ladies and gentlemen, please join me in thanking our distinguished panelists for such substantive and practical contributions. At this point, allow me to invite back Ms. Ojiambo, who is going to introduce our next keynote speaker. Ms. Sande, over to you, please.


UN Global Compact · ASG, CEO and Executive Director · Sandra Ojiambo [53:50]:

Thank you, Rachel, and thank you to our panelists for that broad discussion where you shared practical examples from your respective industries and economies. And thank you, Mr. Minister, also for joining us. It's my pleasure to introduce our second keynote speaker. You can see him on the screen, Mr. Samaila Zubairu, who is the President and CEO of the Africa Finance Corporation. Mr. Zubairu, I see you are on the move.


AFC · President and CEO · Samaila Zubairu [54:15]:

Yes, I am, unfortunately.


UN Global Compact · ASG, CEO and Executive Director · Sandra Ojiambo [54:18]:

As a dear friend and partner who leads AFC, you're a longstanding champion for mobilizing capital on and for the African continent. So we won't ask where you're moving to, but The momentum is always with you. But Mr. Zubaida, joining us here in this SDG Business Forum, as we reflect on progress on the SDGs, some key SDGs are being assessed: industry, energy, cities, water, and partnerships as a whole. But we'd invite you to make some comments on regional financing and how the work that you do is so important to catalyzing progress on the Sustainable Development Goals, but on key issues. for Africa and beyond— energy, infrastructure, those transformations. Over to you.


AFC · President and CEO · Samaila Zubairu [55:06]:

Thank you very much. Thanks, uh, Miss Dumba, and thanks, uh, Assistant Secretary-General Ojambu. Excellencies, distinguished guests, colleagues from business, government, and United Nations system, good afternoon. I listen carefully to the Contributions by all the panelists, all of them quite right and meant for what we're discussing. I think it's just important to realize that it's just 4 years remaining for us to get to 2030 Agenda, and that's quite an important reminder of where we are and the things that we need to focus on. Going forward. So from our perspectives at the Africa Finance Corporation, the more crucial question that we should be asking is not what we hope to achieve by 2030. We should be asking what kind of Africa and indeed what kind of world we're going to build by 2050. You know, history will not ask us how many forums we convened, communiqués we signed. It will ask what we built. Social development is ultimately measured not in declarations but in works, industries, infrastructure, and the jobs that we create, the amount of jobs that we create that give people dignity and opportunity. The SDGs under review this week: water, energy, infrastructure, They are the integrated systems every competitive economy requires. Water needs energy, energy enables industry, industry depends on infrastructure. Cities require all of them, and partnerships make them all possible. That is why Africa's challenge is not simply to finance projects, but is to build integrated economic systems. The encouraging news is that this is already happening. Across Africa, we are moving from extraction to transformation. We're helping build the world's largest refinery and fertilizer platforms in Nigeria, producing low-carbon copper anodes in the Democratic Republic of Congo, and developing strategic transport corridors like the Lobito Corridor that connects mines to markets and countries to opportunities. These are not isolated investments. They are evidence of the Africa we are building. They demonstrate that industrialization is no longer an aspiration, it is becoming a reality. Global production is being reorganized, supply chains are being rewritten. Africa should not simply participate in this new economy as a supplier of raw materials. We must participate as producers of high-value products, capturing more value, creating more productive jobs, and strengthening our economic sovereignty. That is good for Africa and it's good for the rest of the world. It is equally good for the world, which gains more resilient supply chains, new markets, and a trusted longtime growth partner in Africa. Business has a defining role to play. Capital must do more than finance transactions. It must build productive assets that transform economies. We must be intentional around how we can transmit and intermediate African capital to productive assets across the continent. My message today is therefore a simple one. Let us move beyond financing needs to building competitive economies. Let us move beyond projects to integrated economic systems, and let us move beyond dialogue to execution, because prosperity is intentional. It is built by aligning capital, infrastructure, industry, and markets to create value where people live. Africa's future generations will inherit and inhabit be the Africa we choose to build today. Thank you.


UN Global Compact · ASG, CEO and Executive Director · Sandra Ojiambo [59:00]:

Thank you very much, Mr. Somaila, for that really powerful and insightful set of remarks about really, it's not about the transactions, it's about building productive assets. Fantastic challenge for all of us. Thank you. Thank you very much for your time. Rachel, I will hand back over to you to lead us to the next session, or perhaps Tolu or Gabriel.


UN Global Compact · Chief, Government and UN Relations · Tolu Lewis Taboka [59:26]:

Thank you. Thank you very much, Sandra, and thank you, Mr. Zuberu, for joining us in session 1. It's my pleasure to now move us into session 2 of our session today. So I'm going to start this morning by greeting everyone again. Good morning. Good afternoon. Good evening, wherever you may be, distinguished colleagues, excellencies, and partners. My name is Tolu Lewis Taboka. I'm Chief Government and UN Relations at the UN Global Compact, and it's my pleasure to moderate session 2. The discussion today will focus on how governments and the private sector through Global Compact country networks are encouraging and guiding private sector support. Support for UN agendas on the ground, particularly through the voluntary national reviews to strengthen private sector engagement in the national implementation of the SDGs. The increasing amount of member states' national HLPF delegations, including the private sector, demonstrates that the implementation of the SDGs is not driven only by public policy but also by concrete actions of the private sector. Allow me to briefly situate the discussion today in the bigger picture. The UN system is supporting member states to bring key elements of private sector support for UN agendas and implementing UN frameworks to provide fresh new energy for Agenda 2030 in its last 5 years. The Pact for the Future, particularly Action 55C, provides a blueprint for encouraging stronger coherence for how companies such as those of you who are joining us from all over the world can be part of this important opportunity. To join me in discussions today on this topic, it's my pleasure to introduce our panelists who will share their insights. on this topic. We have our speakers including Ms. Daniela Benacci, Executive Director of UN Global Compact Country Network Italy, Professor Kusumara, Director, Ministry of Environment Italy, Ms. Marsha Yambi, Executive Director, UN Global Compact Tanzania, and Ms. Tina Pamarunan, Counselor, Ministry of Foreign Affairs Thailand. I'm gonna start with Daniela. Nice to have you on the screen, Daniela. And my first question goes to you, Daniela, our Executive Director, Country Network Italy. Could you share how the Global Compact Network Italy contributed to Italy's VNR process and which mechanisms were most effective in mobilizing private sector inputs? Over to you.


UN Global Compact · Executive Director · Daniela Benacci [1:02:24]:

Thank you, Tolupe. Thank you and good morning, everyone. For what regards your question, our network, UN Global Compact Network Italy, is providing a structural and evidence-based analysis based on 800 Italian participant companies, how they integrate sustainability in their strategies, culture, and business operation. This contribution was made possible through our participation since 2020 in the National Forum for Sustainable Development coordinated by the Minister of Environment, which I thank for being here today, Mrs. Cassas, that is the institution responsible for drafting the VNR in Italy, in our country. Within this multi-stakeholder platform, UNGC Network Italy has supported the preparation of Italy's 26th VNR And our analysis on business commitment to the SDGs has been now formally included in the national official report. So Italy has structured its PNR around sustainability drivers, which are enabling factors. Among these, the growing commitment of the private sector has been recognized as a key element. Building on these collaborative framework, we employed the 2 main mechanisms to mobilize private sector's input for our VNR. The first one was the use of a robust dataset based on our communication on progress, that is the communication that every year our company has to fill to show their advancement towards our principle and the SDGs. So this is the first dataset we used. Then we complemented this data with a qualitative analysis carried out through target questionnaire directed to our members. And again, we explored how external factors such as geopolitical instabilities or energy market volatilities and economic pressures can impact on the decision and the strategy of companies towards sustainability. So these are— and also how sustainability is considered a rewarded issue for companies and competitive advantages for companies. So these 2 main drivers and instruments were used to fill our contribution, and we explored not only opportunities but also challenges for companies. Based on the evidence, in concrete terms, we discovered that 35% of Italian participants identify, assess, and mitigate sustainability-related risk in a very structured way, and 48% already align their reporting with the GRI standards. So still there is a gap, and the critical sector is the value chain. Many companies, especially small and medium enterprises, struggle with the complexity of reporting, especially regarding the new European regulatory framework. So in this case, they still need support that is not only a financial or fiscal but it's also knowledge support on what they're doing. So the VNR reflected both the progress made so far, but also the challenges and the gap that still remain to accelerate and engage private sector more and more towards the Agenda 2030.


UN Global Compact · Chief, Government and UN Relations · Tolu Lewis Taboka [1:06:24]:

Thank you.

Thank you so much, Daniela. Thank you for providing us with those very interesting insights as to your contribution from Country Network Italy. I'd like to turn now to Professor Kossu, whom you worked with, and also to hear from a government perspective, how did the collaboration with the UN Country Network enhance the inclusiveness and quality of Italy's BNR? Over to you, Professor.


Italy · Director · Kossu [1:06:51]:

Thank you very much, Tulipan. Good morning, good evening, good afternoon. Good afternoon to everyone. Let me just start from the last words of Mrs. Bernacchi in saying that what the most effective contribution of the UN Global Compact Network Italy was the highlighting of those challenges and those needs from the business sector, meaning that— Just a few words about our exercise of the VNR this this year. It is a very complex, not only reporting, but process exercise mirroring into our National Strategy for Sustainable Development Implementation. That means something very precise. That means that we are reporting about all the tasks that we are committed to challenge in the next months and years. So all the work done so far with the network in highlighting the challenges that we have ahead is about driving and designing the pathways for the next month. In this respect, we also work at different levels in a multi-level perspective. So, we are working on those issues at both national and local level. And this is also something that the collaboration— one of the words that I heard this morning most was cooperation, trust, collaboration. This relationship among business sector and government is quite crucial in this respect. And also the enlargement of this collaboration among different levels of government is also peculiar. So what's guiding us through the inputs that come from the United Global Compact initiative in Italy is to shape a joint initiative we are conducing with our Minister of Economy and and finance about sustainable finance, particularly for small and medium enterprises, building with the Chambers of Commerce network in our country, and really dealing with those challenges that Mrs. Bernanke was highlighting about knowledge, about supporting and providing data evidence along the value chain for sustainable reporting, about training. This is also another gap that the Voluntary National Review highlighted. So very much this is a way for enhancing this collective journey that the Pact for the Future has also tracked and stressed in terms of partnerships. And I really hope that it will be mirrored, and we are very committed in mirroring it to the next phases of implementation of the National Strategy for Sustainable Development.


UN Global Compact · Chief, Government and UN Relations · Tolu Lewis Taboka [1:09:30]:

Thank you. Thank you very much, Professor Koussou. I think you and Daniela have really provided very strong insights around collaboration, using your words, and the criticality of business, government, and UN Global Compact partnerships and collaboration, leveraging available data from the Compact. You also mentioned SMEs, and it's my pleasure now to turn to Masha Yambi, Executive Director of UN Global Compact Country Network Tanzania. And Marsha, you also worked very closely with the government to support private sector engagement in the BNR process of Tanzania, particularly among SMEs, small and medium-scale enterprises. Could you provide us some insights as to how the Compact in Tanzania worked with the government on this? Over to you, Marsha.


UN Global Compact · Executive Director · Marsha Yambi [1:10:25]:

Well, good afternoon, good evening to you all. First of all, allow me to register my deep appreciation to the UN Global Compact headquarters and all that made this session possible. What I'm going to share shortly is basically from the experience that has been hands-on and have been coordinated by the UN Global Compact Network Tanzania. So under the compact, the— we have been responsible in supporting the businesses, of course, to integrate their to embed the 10 UN Global Compact principles in their strategies and operations. So within the VNR, what we felt is, and understanding the agenda, or I would say the call, the Cold 55C, which allows the private sector to be responsible for the— responsible and accountable, basically, a partner in delivering the SDGs, we felt that in Tanzania we have demonstrated what looks like a successful event. First of all, we have been very early involved by the government itself, ensuring that we were part of— we had a seat on the table. This allows us very much to make sure that the communication from the ECOSOC when it first arrived, we were also informed. Of course, it allowed us now to basically start planning the how, when, and who. As you can know, the members of the UN Global Compact basically are hugely SMEs, rightly as you had put it, Tolu. What we feel that it's— yes, it is hugely SMEs, But again, VNR is not about only members of the UN Global Compact. So what you can understand is we managed to ensure that the coordination itself had to be very much streamlined and opened to everybody. So we came up with a tool that would attract all, but we would be able to reach them all. And this as a whole, we made sure that Moving first of all from the, what we say, leaving no one behind to the whole of society approach. What we did was to make sure that in the planning itself and designing of the tool, we had to make sure that we had categorization of all who were members of the UN Global Compact and non-members of the UN Global Compact to ensure that who are the other membership entities are existing within the country as well. so that we can develop a collaborative effort to ensure that we involve everybody. But again, we aim to make sure that from the designing to ensure that we had the SDGs that were to be reported this time, the 6, 7, 9, 11, as well as 17. But again, also not to leave the other SDGs. Areas like job creation and ensuring that sustainable investment were all included from the start. But secondly, we had to make sure that we continue to strengthen the data source. The data source for all the KPIs within the SDGs normally comes from the National Bureau of Statistics. This is parallelly tracked by the government itself. But again, now you would see how we mirror this report. is basically the cases that we are now emulating from the SMEs as well as also the corporates. What you can say is institutionalization of the report. This is like, I would say, for the first time the private sector came up with its own standalone report, which was appended now to the main report. This is something that one has to remember that coordinating these cases is like a drop in the ocean because we have huge fraternity of the private sector. But again, we managed to also ensure that each and every of the SDGs were having substantial area or rather data of cases. But again, one has also to remember that in all this, one would have asked a question, how would you say that those were the cases and the best of the cases? We had also a mechanism to ensure that, first of all, we do also recommend and of course put a pat on the back by recognizing these very well-done institutions or entities. Therefore, we also launched Business SDG Awards back in 2023. Therefore, even this year, we had already run that Business SDG Awards, and we allowed to also, I would say, to register them all, those which had already submitted their cases. But again, we had to make sure that in all what we did, we managed also to get who were doing the best. The best cases came up very much through the Business SDG Awards. Again, this was as far as the measuring of the impact was concerned. Again, we also went further in— this is not coordinated by the UN Global Compact, but rather this is like a separate entity within the government. This is like Tanzania Revenue Authority, which also runs its award mechanism, and it recognized also some of the members, some of the cases that we also did identify during the course. This is what I can say for now. It showed how best we had managed to embrace transparency, embrace accountability, as well as also ensuring that now how the public assets were also featuring back after being done, like doing good. We also had received some of the information from the government again, from those state-owned entities were also able to be contributing back to the government what they had done as interest. As we call it, like extra money they have done in their activities. This is what I can say that Agenda 55C, basically, we urge member states also to take this element of engaging early, but also including dedicated report of the private sector, as well as also localization of the SDGs, where we have seen these SDGs being localized within the— we call it Tanzania Vision 2050. SDGs is also going to continue beyond 2030. This is also one of the elements that we say we are doing good and we encourage others also to take it on. Thank you very much.


UN Global Compact · Chief, Government and UN Relations · Tolu Lewis Taboka [1:17:53]:

Thank you. Thank you so much, Masha. Thank you for your insights, early involvement to sit on the table and also attracting private sector beyond those who are part of the Global Compact Network. You also mentioned cases, and our conversation is going to go into the practicalities of this collaboration. For that, we're going to get some good case study examples from Tanzania. It's my pleasure to now invite Tina to join the conversation. Tina, I think I'll just move you over into the screen.


Thailand · Counselor · Tina Pamarunan [1:18:27]:

Thank you.


UN Global Compact · Chief, Government and UN Relations · Tolu Lewis Taboka [1:18:27]:

Okay, great.


Thailand · Counselor · Tina Pamarunan [1:18:29]:

Well, good morning, everyone in New York, and of course, thank you very much to Ms. Tanoka and also the UN Global Compact for also hosting me here today. So very quickly, Thailand in the past more than 10 years, we have presented 3 times of our voluntary national review. Of course, we would love to do it every year, but we know that we have to share it to other countries and member states also. But at the same time, what's more important is that we also have our own voluntary local review system, and we also have our SDG localization. So picking up from the previous speaker as well, and that is very important because actually in our first voluntary national review, we also included a representative from the private sector, from a Thai beverage company, which is also a member of the UN Global Compact Network Thailand as well, to engage engaged in the discussion with our minister. Along the way, of course, in the past more than 10 years, this SDG localization has— I would like to give a concrete example in Thailand right now, it's the Sarakburi Sandbox. It aims at reducing carbon emissions in Sarakburi Province in Thailand, which is nominated by cement industry. The sandbox itself is the country's first low-carbon city model, which brings together, you know, the Thai Cement Association, the Federation of Thai Industries, Saraburi Province leading companies, which, you know, include the Siam Cement Group, which is also the UN Global Compact Thailand member. We have the Jalon Pokkapan or CP Foods, Thai Beverage Can. We have the Dairy Farming Promotion Organization from Thai Denmark brand. So they're all there together working with the governor and the people of the Saraburi Province. And, you know, and they— we have also like 7 key ministries, you know, the government sector, and more than 21 local agencies and civil society. And of course, working through the public-private-people partnership and 3 Cs, which include, you know, collaborative mindsets, collaborative actions, and collaborative values. So the sandbox itself, it covers 5 key areas, namely accelerating clean energy transition, fostering green industry and green products, turning waste into value, promoting low-carbon agriculture, and increasing green spaces. So under this project, you know, private sector carries out the practical work of decarbonizing production. And of course, we also have international organizations such as UNIDO, the GIZ, and the Global Cement and Concrete Association support business efforts as well. And this sandbox demonstrates how business participation innovation combined with policy, like pretty much a very clear policy direction, including financial technology and governance support as well. And it's also driven by the Thailand 2050 Net Zero Cement and Concrete Roadmap, contribute to reducing like 70— 47, sorry, percent of the greenhouse gas emissions below our 2019 baseline by 2037, and the Thailand's NDC roadmap and achieving our net zero by 2050. So all of this will come together, and of course we need, um, the private sector's active role. And before I end, very quickly, um, another role for the private sector— Thailand will be hosting our IMF-World Bank Group annual meetings in this October. So there will be a lot of finance ministers there, and of course we have our national theme of empowering people, building resilience. So that will be our national theme, and of course we will have like based on 4 pillars, and one of them will be climate adaptation and AI digital transformation.

And we will have a lot of business and private sector engagement as well. Thank you.


UN Global Compact · Chief, Government and UN Relations · Tolu Lewis Taboka [1:22:11]:

Thank you.

Thank you so much, Tina. Thank you for that practical example of multi-stakeholder private sector collaboration with the government of Thailand involving our country network, Thailand. Thank you so much. I'd like to once again thank all our speakers. We've received very important contributions today, from insights from Italy, looking at how the private sector through the Global Compact has collaborated in the Italian Vienna report directly. We've also heard from Tanzania how the private sector has also provided a report that also mirrors the government report as an annex to the government's official VNR report, and a practical example from Tina, who is here with us in the room, as to how, you know, a case study of this multi-stakeholder collaboration really has happened on the ground. So thank you so much to our panelists. I think 2 things emerge from the conversations we've had from our colleagues today. One is the importance of structured, early, and predictable engagement, and collaboration, uh, mechanisms that enable private sector to contribute meaningfully to national SDG processes. The second is the important role of trust, transparency, and data alignment strengthening these partnerships. Now, these experiences today demonstrate that BNR processes can indeed serve as a practical entry point for operationalizing these commitments, including those of Action 55C of the Pact for the Future, by embedding private sector engagement in international systems for review and implementation. With that, I'd like to thank once again our distinguished speakers for their contribution and all our participants for their engagement. We invite you now to download the Insights Brief, Accelerating Impact Business and the United Nations Delivering on the Pact for the Future. For a deeper understanding of the recommendations, use the QR code which is currently on your screen now. Thank you all very much, and I pass the floor now to Rachel to continue the rest of the event. Back to you, Rachel.


Moderator · Rachel Dumba [1:24:33]:

Thank you very much, Ms. Tolulope, and sincere thanks to all our speakers. in this second session for bringing us from global frameworks to country-level realities. Thank you very much. That was very insightful. It is now my pleasure to invite Ms. Sonia, the CEO of House of Maya and SJ Investments, board member of the Bahrain Chamber of Commerce, and board member of IOE, to offer closing reflections from the private sector and employer community. Ms. Sonja, the floor is yours.


IOE · Board Member · Sonia Janahi [1:25:11]:

Thank you so much, Rachel. I'm honored to be with you all here today, and my distinguished excellencies, our colleagues from the United Nations, representatives of governments, business leaders, my colleagues, the employers, civil society partners, and of course, my dear friends. It is truly a privilege for me to be here today to offer the closing reflections on behalf of us, the employers, and the world business community. Today's forum has really reminded us that sustainable development is ultimately delivered in the real economy. It becomes tangible when enterprises can invest with confidence, when enterprises can grow, And when workers have stable opportunities, when infrastructure connects communities to markets, and when innovation improves our daily life. This is why the focus on SDG 9 and SDG 17 is so timely. Industry, innovation, infrastructure, and partnerships are the foundation of Competitiveness, decent work, economic diversification, and above all, resilience. They are also essential as our countries navigate the green transition, digital transformation, artificial intelligence, new industry policy, and of course, the changing global supply chains. My ambition alone is not enough. We need implementation. We need predictable regulation. We need access to what is called creative finance and not just loans that drain the MSMEs. We need access to skills systems that respond to labor market realities and infrastructure that connects the businesses to global markets. And open the global market for everyone, specifically MSMEs. We also need meaningful public-private partnerships and dialogues so that policies are not only well-intentioned, but they are workable and achievable. And thanks to the IOE New York office, because they are today working effectively and efficiently to prove and activate this implementation by bringing the private sector closer to UN organizations and making sure that our voices are heard. Because this is where the employer voice matters. The Federation brings the practical experience of enterprises into policy discussions. We have genuinely burnt our fingers, so we know what it takes to be an MSME, to be an entrepreneur, to be an employer. They can also help governments understand what prevents companies from investing, why MSMEs are prevented from formalizing, what skills are missing today to help them grow, and what partnerships can deliver impact. A powerful recent example is the adoption of the ILO Convention 193, on the platform economy at our recent 2026 June International Labour Conference. More than 500 employers, including private companies, business associations, and employer federations, were all in Geneva to negotiate this convention. And it was one of the most challenging discussions that we have seen. And this proves the point of the employers. It is a major milestone that will affect many and a strong demonstration of what tripartism can deliver when governments, workers, and employers engage together and engage constructively. The Convention recognizes the diversity of the platform economy and avoids a one-size-fits-all approach and supports balanced and workable solutions. The same principle applies to the SDGs. If private sector engagement is to be credible, it must be structured, it must be focused, it must suit all sizes and all sectors. If accountability is to be meaningful, it must be practical and measurable. And if partnership is to succeed, it must begin early where priorities are being shaped. I here wish to recognize Her Excellency Ms. Haidera for explaining how UNIDO today is a key partner of the private sector and how UNIDO offices globally consider the private sector as the driver of such initiatives. I personally firsthand have seen this with the UNIDO office in Bahrain. I also welcome the launch of the Insight, as Ms. Anda explained, in relation to the Accelerating Impact: Business and the United Nations Delivering on the Pact of the Future. This gives today's forum a concrete outcome and a practical tool to help us all move from commitment, hopefully, to implementation. As we close, I would love to leave 3 messages for everybody to think over. First, SDGs will not be achieved without the real economy. Second, businesses can contribute more when the labeling environment is strong. And third, we need partnerships that move from consultation to co-creation and from commitments to measurable outcomes. On behalf of the employer community, I reaffirm that business is ready to be a partner in delivery in action. But partnership must be structured, trust must be built, and implementation must be measured. I wish to thank the UN DESA, the UN Global Compact, IOE team, and UNIDO for convening this important forum. And thank you to all participants for keeping the focus on practical solutions, reasonable and responsible business action, and the real economy that can help deliver, hopefully with the partnership of the private sector, the 2030 Agenda. Thank you all.


Moderator · Rachel Dumba [1:31:55]:

Thank you very much, Ms. Sonja. Your remarks powerfully reinforce the role of employers' organizations, companies, chambers, and responsible businesses in translating global commitments into practical action, investment, jobs, accountability, and impact. Thank you very much. To close today's forum, I'm honored to invite Mr. Navid Hanif, Assistant Secretary-General for Economic and Social Affairs at UNDESA, to share his final reflections. Thank you. Mr. Hanif, over to you.


UN DESA · ASG · Navid Hanif [1:32:37]:

Thank you, Miss Rachel Domba, but I must also thank Miss Sonia Janahi for her very insightful closing keynote and thoughtful and thought-provoking. Excellencies, colleagues, business leaders, civil society representatives, it's an honor to join you at the closing of the Global Business Forum. I thank all our speakers, moderators, and participants for a rich, candid, and forward-looking discussion. Today's discussions brought us back to a simple truth, and Ms. Janahi captured that very well. The SDGs are built in the real economy. They come alive when a port clears cargo more efficiently, when a small business secures its first loan, when clean energy powers a factory, when innovation creates better jobs. That is why today's theme and discussions matter. The SDGs are often seen as a development agenda, They are equally, if not more importantly, an agenda for productivity, competitiveness, and resilience. The economies that will lead tomorrow are those investing today in sustainable infrastructure, innovation, skilled people, and resilient supply chains. In today's economy, sustainability is no longer a compliance exercise. It's a source of competitive advantage. Ladies and gentlemen, the global context, I must say, remains challenging. Growth remains subdued. Trade uncertainty is dampening investment. Financing conditions remain tight across many developing countries. And meanwhile, only about one-fifth of the SDG targets are on track, and developing countries face an annual financing gap of more than $4 trillion. But we have silver lining too. We have made progress. We have found solutions. We need speed and scale. But I must also emphasize, these numbers indicate we cannot achieve the SDGs without business, and business cannot thrive if sustainable development fails. Today's discussions highlighted 3 priorities. First, invest in productive transformation. SDG 9 is not simply another goal. It is the engine that powers many others. Competitive industries, resilient infrastructure, and innovation create jobs, raise productivity, and strengthen economic resilience. They also help countries move up value chains rather than remain trapped at the bottom of those chains. The most resilient economies are not those that consume the most. They are those that innovate the fastest. Second, move from finance— move finance from balance sheets to the real economy. The message from Sevilla Commitment could not be clearer. Public resources alone cannot finance sustainable development. Global capital is not scarce. Bankable investment opportunities are. Our task, therefore, is not only to mobilize more capital, but to reduce the barriers that prevent it from reaching productive investment. Ms. Janahi mentioned enabling environment, but it also means stronger project pipelines, country-led investment platforms, predictable regulatory frameworks, blended finance that allocates risk more effectively. And of course, closer partnerships between governments, development banks, and business. We all know capital follows confidence, and confidence follows credible policy. Third, strengthen accountability through partnership. Business engagement should be judged not only by the number of pledges made, but by the investments delivered and the outcomes achieved. The Pact for the Future reflects this shift from participation to performance. Let me also join Ms. Jinnah in welcoming the launch of Accelerating Impact: Business and the United Nations Delivering on the Pact for the Future. This timely brief provides practical guidance for translating ambition into investment, partnership into implementation, and commitments into measurable results. Ladies and gentlemen, the defining question is no longer whether sustainable development is affordable. The real question is whether we can afford not to invest in it. The cost of inaction is rising. So are the opportunities for those who move first. Ultimately, success will not be measured by the declarations we adopt. It will be measured by the investments we mobilize, the industries we transform, the decent jobs we create, and the resilience we build. The future will not be built in conference rooms only. It will also be built in factories, labs, farms, ports, and boardrooms. And that's where our work begins. And I thank the leaders from the business sector for joining us and giving new push to sustainable development. Thank you.


Moderator · Rachel Dumba [1:39:47]:

Thank you, Mr. Hanif, and thank you to all our distinguished speakers, panelists, and participants. Ladies and gentlemen, as we leave today's Forum, let us carry forward a practical and ambitious message to the UN partners and member states. Business is ready to contribute, but partnership must be structured, trust must be built, and implementation must be measured. On behalf of the co-conveners and co-organizers, thank you for joining the 2026 SDG Global Business Forum. We look forward to continuing this dialogue through the HLPF and beyond. And from us all, it is good morning, good afternoon, and good evening. Thank you very much.