New York, United States of America, Dec. 20, 2024 (GLOBE NEWSWIRE) -- For the UN Global Compact, 2024 will be remembered as a year of growth, convening and innovation marked by dedication and commitment to advancing corporate sustainability through the Ten Principles.
As the year draws to a close, we reflect on 2024 with gratitude and renewed purpose.
We welcomed 4,300 new participants and two new Country Networks spanning 20 countries. Our global, regional and national events brought together thousands of leaders from business, Government, the UN and other areas to drive actions and discussions on some of the world’s most pressing challenges. We released a range of innovative publications and furthered education and tools for business leaders.
Growth
A significant change in the corporate approach to sustainability occurred in 2024. More companies shifted from setting goals to driving change with definitive, measurable actions. At the same time, some companies walked back their commitments due to different challenges such as advancing sustainability through their value chain.
This is where the UN Global Compact can help. With nearly 4,300 new participants joining in 2024, we are committed to supporting businesses in navigating their challenges and embedding sustainability into their core strategies.
We also expanded our global reach by welcoming two new Country Networks in the Caribbean and Ireland.
The launch of the Caribbean Network advanced support for Caribbean companies by offering essential resources, practical tools and peer engagement opportunities across 19 countries.
In Ireland, the launch of the network will enable and support Irish businesses in advancing sustainability in key sectors, such as agriculture, technology and pharmaceuticals.
With 63 Country Networks and five regional hubs, we look forward to expanding our reach farther in 2025, and continuing to work with businesses to advance action on the Sustainable Development Goals (SDGs).
Convening
In 2024, we engaged thousands of leaders during major moments on the side of the World Economic Forum (WEF) in January, the UN General Assembly (UNGA) in September and the UN Climate Change Conference (COP29) in November.
Additionally, we brought together stakeholders regionally through inaugural Forward Faster Now events in Asia & Oceania and Latin America & the Caribbean.
Globally, regionally and nationally, we activated through key moments to bring together sustainability leaders across businesses, Governments and civil society to champion the 10 Principals and advance a better future.
Innovation
In 2024, the UN Global Compact released several innovative reports offering companies valuable insights and actionable strategies for advancing sustainability across various sectors.
These resources guide businesses on how to integrate sustainability practices into their business practices, including:
- The Forward Faster 2024 Trends and Insights Report provides a snapshot of how more than 1,700 companies are taking steps to stay ahead of the curve. Forward Faster is our global platform for credible, ambitious corporate action to guide companies on where they can collectively make the biggest, fastest impact by 2030.
- Policy Enablers for Private Sector SDG Acceleration explores how tailored public policies and partnerships can accelerate private-sector contributions to the SDGs.
- Accelerating Innovation in Sustainable Finance addresses innovative mechanisms to channel private capital into sustainable development, overcoming structural financial barriers.
- Generative AI for the Global Goals equips private sector leaders with the tools needed to develop and deploy Gen AI responsibly while delivering significant business value.
In addition to authoring reports, we provided new, relevant tools to businesses, such as through the launch of the Sustainable Supply Chain and SMEs issue area to continue to support businesses of all sizes and throughout the supply chain.
Look Ahead
While 2024 was marked by significant milestones and considerable strides, as we look to 2025 and the 25th anniversary of the UN Global Compact, we approach the future with renewed focus and ambition.
The mission of the UN Global Compact is to accelerate and scale the global collective impact of business by upholding the Ten Principles and the SDGs through promoting ecosystems that enable change.
In 2024, we acted on this mission through meaningful investment in the growing base of participants and networks, convening key stakeholders and publishing innovative reports driving conversations on sustainability.
Before 2024 concludes, we want to recognize the incredible efforts of colleagues, participants and partners of the Global Compact. Thank you for your commitment to positive change, despite a challenging year of global uncertainties.
Together, we will work together to build a more resilient, equitable and sustainable future.
The inclusion of company names and/or examples is intended strictly for learning purposes and does not constitute an endorsement of the individual companies by the UN Global Compact.
Notes to Editor
About the UN Global Compact
The ambition of the UN Global Compact is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the SDGs through accountable companies and ecosystems that enable change. With more than 20,000 participating companies, 5 Regional Hubs, 63 Country Networks covering 80 countries and 13 Country Managers establishing Networks in 18 other countries, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world.
