Tag Archives: Antonio Guterres

United Nations Secretary Generals Op-ed on Investors’ Alliance

People around the world are taking to the streets to protest against rising living costs and real

UNSG Antonio Guterres

or perceived injustice. They feel the economy is not working for them — and in some cases, they are right. A narrow focus on growth, regardless of its true cost and consequences, is leading to climate catastrophe, a loss of trust in institutions and a lack of faith in the future.

The private sector is a critical part of solving these problems. Businesses are already working closely with the UN to help build a more stable and equitable future, based on the Sustainable Development Goals. The 17 global goals were agreed by all world leaders in 2015 to address challenges including poverty, inequality, the climate crisis, environmental degradation, peace and justice, by a deadline of 2030.

There has been some progress in the four years since the global goals were adopted. Extreme poverty and child mortality are falling; access to energy and decent work are growing. But overall, we are seriously off-track. Hunger is rising; half the world’s people lack basic education and essential healthcare; women face discrimination and disadvantage everywhere.

One reason for the faltering progress is the lack of financing. Public resources from governments are simply not enough to fund the eradication of poverty, improve the education of girls and mitigate the impact of climate change. We need private investment to fill the gap, so the UN is working with the financial sector. This is a critical moment for business and finance, and their relationship with public policy.

First, businesses need long-term investment policies that serve society, not just shareholders. This is starting to happen — some major pension funds are cutting fossil fuels from their portfolios. And more than 130 banks with $47tn in assets have signed up to the Principles for Responsible Banking, designed in collaboration with the UN. They represent an unprecedented commitment to business strategies that align with the global goals, the 2015 Paris Agreement to prevent global temperatures from rising, and banking practices that create shared prosperity. I urge all financial institutions to sign up to this transformation.

Second, we are finding new ways for the private sector to invest in sustainable growth and development. In October, 30 leaders of multinational companies launched the Global Investors for Sustainable Development Alliance at the UN. Top executives at Allianz and the Johannesburg Stock Exchange are among those who have publicly committed to acting as agents of change in their own companies and more widely. They are all already backing major sustainable infrastructure investments including clean, accessible energy projects in Africa, Asia and Latin America and the use of innovative financial instruments to mobilise billions of dollars for food security and renewable energy. They will now take on an even bigger role in channelling capital towards sustainable development, matching opportunities with investors.

I hope all business leaders follow their lead, investing in the economy of the future: clean, green growth that provides decent jobs and improves people’s lives for the long-term. Business must move further and faster if we are to raise the trillions of dollars required to meet the global goals.

Third, we call on business leaders to go beyond investment and push for policy change. In many cases, companies are already leading the way. Sustainability makes good business sense. Consumers themselves are exerting pressure. One investor described sustainable finance as a “megatrend”. But private finance is often battling subsidies for fossil fuel that distort the market and entrenched interests that favour the status quo. Major investors including Aviva warn that subsidies for fossil fuels could decrease the competitiveness of key industries, including in the low carbon economy. Governments lag behind, reluctant to change outdated regulatory and policy frameworks and tax systems. Quarterly reporting cycles discourage long-term investment. Fiduciary duties of investors need updating to include broader sustainability considerations.

We need business leaders to use their enormous influence to push for inclusive growth and opportunities. No one business can afford to ignore this effort, and there is no global goal that cannot benefit from private sector investment.

It is both good ethics and good business to invest in sustainable, equitable development. Corporate leadership can make all the difference to creating a future of peace, stability and prosperity on a healthy planet.

About the Author; Antonio Guterres, is the current Secretary General of the United Nations.

UN mourns death of former Secretary-General Kofi Annan, ‘a guiding force for good’

Mr. Annan was the seventh man to take the helm of the global organization and the first Secretary-General to emerge from the ranks of its staff.

The current UN chief, Antonio Guterres hailed him as “a guiding force for good” and a “proud son of Africa who became a global champion for peace and all humanity.”

“Like so many, I was proud to call Kofi Annan a good friend and mentor. I was deeply honoured

Kofi Annan, Former UN Secretary General 1997-2006

Kofi Annan, Former UN Secretary General 1997-2006

by his trust in selecting me to serve as UN High Commissioner for Refugees under his leadership. He remained someone I could always turn to for counsel and wisdom — and I know I was not alone,” Mr. Guterres said in a statement.

“He provided people everywhere with a space for dialogue, a place for problem-solving and a path to a better world.  In these turbulent and trying times, he never stopped working to give life to the values of the United Nations Charter. His legacy will remain a true inspiration for all us.”

Kofi Annan was born in Kumasi, Ghana, on 8 April 1938.

He served as UN Secretary-General for two consecutive five-year terms, beginning in January 1997.

Mr. Annan joined the UN system in 1962 as an administrative and budget officer with the World Health Organization (WHO) in Geneva, rising to hold senior-level posts in areas such as budget and finance, and peacekeeping.

As Mr. Guterres noted: “In many ways, Kofi Annan was the United Nations. He rose through the ranks to lead the organization into the new millennium with matchless dignity and determination.”

From his beginnings in Geneva, Mr. Annan held UN posts in places such as Ethiopia, Egypt, the former Yugoslavia and at Headquarters in New York.

Following Iraq’s invasion of Kuwait in 1990, he was tasked with facilitating the repatriation of more than 900 international staff as well as the release of Western hostages.

He later led the first UN team negotiating with Iraq on the sale of oil to fund purchases of humanitarian aid.

Immediately prior to his appointment as Secretary-General in January 1997, Mr. Annan headed the UN Department of Peacekeeping Operations during a period which saw an unprecedented growth in the Organization’s field presence.

His first major initiative as UN chief was a plan for UN reform, presented to Member States in July 1997.

Mr. Annan used his office to advocate for human rights, the rule of law, development and Africa, and he worked to bring the UN closer to people worldwide by forging ties with civil society, the private sector and other partners.

As Secretary-General, he also galvanized global action to fight HIV/AIDS and combat terrorism.

Mr. Annan and the United Nations jointly were awarded the Nobel Peace Prize in 2001.

In his farewell statement to the UN General Assembly in December 2006, Kofi Annan expressed emotion over leaving what he called “this mountain with its bracing winds and global views.”

Although the job had been difficult and challenging, he admitted that it was also “thrillingly rewarding” at times.

“And while I look forward to resting my shoulder from those stubborn rocks in the next phase of my life, I know I shall miss the mountain,” he said.

However, Mr. Annan did not rest, taking on the role of UN Special Envoy for Syria in the wake of the conflict which began in March 2011.

He also chaired an Advisory Commission established by Myanmar in 2016 to improve the welfare of all people in Rakhine state, home to the minority Rohingya community.

His homeland, Ghana, established an international peacekeeping training centre that bears his name, which was commissioned in 2004.

Source: UN News