BUSINESS & THE MILLENNIUM DEVELOPMENT GOALS ---------------------------------------------------------------------------------------------------------------- |
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The private sector has a crucial role to play in reducing poverty and encouraging social stability. The international business community will need to make a significant contribution if the Millennium Development Goals (MDGs) are to be achieved by the 2015 deadline. At the World Economic Forum in January 1999, UN Secretary-General Kofi Annan challenged business leaders to join the Global Compact, an international initiative which would bring companies together into a partnership with UN agencies, labour associations and civil society to support universal environmental and social principles. More recently, Jeffrey Sach’s 2005 Millennium Project report stressed the need for the private sector to be fully engaged in efforts to achieve the MDGs. The UN Commission on the Private Sector & Development emphasised the importance of the private sector to the achievement of the MDGs in Unleashing Entrepreneurship 2005, in which the Commission stated that “the private sector can alleviate poverty by contributing to economic growth, job creation and poor people’s incomes. It can also empower poor people by providing a broad range of products and services at lower prices.” Beyond philanthropy There is an emerging consensus that any scaled-up contribution of the western business community will be made by companies focusing on their core business activities when operating in the developing world, rather than viewing poorer countries purely as recipients of charity. As Kofi Annan highlighted at the World Economic Forum in 2002, “There are many positive ways for business to make a difference in the lives of the poor – not through philanthropy, though that is also very important, but through initiatives that, over time, will help to build new markets”. UNA-UK's Young Professionals Network believes that business needs to be involved, through dialogue and action, with the work of the UN and other key development actors in alleviating poverty and achieving the Millennium Development Goals (MDGs). In 2006-2007 YPN held a series of evening seminars on 'Business and the MDGs':
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