The 2024 Private Sector Forum, held at the United Nations Headquarters in New York City, concluded successfully, gathering over 100 CEOs and global leaders to address critical global challenges and advance the Sustainable Development Goals (SDGs). This year’s Forum, part of the UN General Assembly’s High-Level Week, emphasized the role of the private sector in driving progress on the SDGs and fostering sustainable growth.
In his keynote address, UN Secretary-General António Guterres highlighted the need for collective, decisive action following the adoption of the Pact for the Future. He stressed that the Pact represents a pivotal step toward a more resilient and inclusive multilateral system, essential for tackling pressing issues such as climate change, inequality, and economic instability. Guterres urged all stakeholders, especially the private sector, to translate the ambitions of the Pact into meaningful action to accelerate the achievement of the SDGs. The Forum also marked a significant milestone for the Forward Faster initiative, which has mobilized more than 1,700 companies to contribute to the SDGs. The 2024 progress report revealed that these companies have set over 4,360 individual targets across crucial action areas like Gender Equality, Climate Action, Living Wage, Water Resilience, and SDG Finance and Investment, all aligned with the 2030 agenda. UN Global Compact CEO Sanda Ojiambo reflected on the importance of multilateral cooperation, particularly in the wake of transformative discussions at the Summit of the Future. She emphasized the vital role businesses play in achieving the SDGs, noting how the 2024 Forum showcased the private sector’s potential to transform global ambitions into tangible actions that promote sustainability and shared prosperity. A key focus of the Forum was the release of the “Policy Enablers for Private-Sector SDG Acceleration” report, which underscores the necessity of public policy in enabling private sector contributions to the SDGs. Drawing insights from countries like Angola, Brazil, Egypt, India, and South Africa, the report calls for stronger public-private partnerships and tailored policy solutions to drive digital access, clean energy transitions, and fair working conditions. Additionally, the Forum launched the UN Global Compact’s Legal Council, a platform for legal leaders to support the Forward Faster initiative by providing strategic guidance on regulatory environments and removing barriers to sustainability. The event concluded with a strong endorsement of multilateralism, as the global business community affirmed its commitment to inclusive, resilient cooperation for addressing global challenges and fostering prosperity for all.