Safaricom has announced its participation in the UN Global Compact’s Forward Faster initiative. The initiative aims to expedite private sector efforts to achieve the 17 Sustainable Development Goals (SDGs) outlined in the 2030 Agenda.
The Forward Faster initiative calls upon business leaders worldwide to take measurable and ambitious actions in areas where the private sector can have the most substantial impact on the SDGs. These areas include gender equality, climate action, living wage, water resilience, finance, and investment.
Peter Ndegwa, CEO of Safaricom, expressed his enthusiasm for joining the initiative, stating that as the 2030 deadline approaches, they have embraced the challenge of accelerating sustainability action in key areas.
Safaricom is proud to be at the forefront of delivering the SDGs, which are crucial for reducing inequalities and improving our planet.
Ndegwa acknowledged the ongoing global challenges, including climate change, the COVID-19 pandemic, and conflicts, which have hindered progress towards achieving the SDGs.
He emphasized the importance of partnerships and collaboration within the private sector to overcome these challenges and fulfill the SDGs agenda.
Safaricom has already integrated nine of the 17 SDGs into its business operations. The company has previously rallied CEOs from the region to commit to the African Business Leaders Coalition, which addresses climate change concerns.
In its latest move towards sustainability, Safaricom secured a KES 15 billion Sustainability-Linked Loan earlier this month. The loan will bolster the company’s Environmental, Social, and Governance (ESG) agenda and support its diversification of investments to achieve key ESG objectives.
The SDG Progress Report, released earlier this year by UN Secretary-General António Guterres, revealed that only 15% of the SDG targets are on track. Progress on 48% of the SDGs is deemed weak and insufficient, while 37% of the SDGs have experienced stalled or reversed progress.
Safaricom’s commitment to the Forward Faster initiative demonstrates its dedication to driving sustainable development and contributing to the achievement of the SDGs. By leveraging its influence as a private sector leader, Safaricom aims to accelerate progress and inspire other businesses to take action towards a more sustainable future.