FAMILY BUSINESS FOR SUSTAINABLE DEVELOPMENT HIGH-LEVEL ROUNDTABLE (in partnership with FBN)
Beyond the bottom line – how can family business advance the sustainability agenda?
This event occurs in Geneva Time (CET, GMT+2). Abu Dhabi, UAE time is 2:00 hours ahead of Geneva, Switzerland.
To deliver on the UN Sustainable Development Goals (SDGs) by 2030, an ambitious global effort is required over the next decade to accelerate sustainable solutions to the world’s economic, environmental, social and governance (ESG) challenges. Two-thirds of businesses worldwide are owned or managed by families, employing 60% of the world’s workforce and contributing over 70% of global GDP. Family businesses are key actors in ensuring a transformative and sustainable future, to create a shared prosperity for all, mobilize investment in sustainable development and define success across generations. Increasingly, family-owned enterprises around the globe are embedding sustainability in their business practices. Family offices and family foundations can also be a catalyst in promoting sustainable business models that drive impacts beyond the traditional bottom line.
Family businesses need to be empowered to maximize their potential and seize the untapped opportunities associated with embracing the sustainable development agenda. As a first of its kind partnership between the United Nations and the global family business community, UNCTAD and the Family Business Network (FBN) jointly developed the global initiative Family Business for Sustainable Development (FBSD). Its ambitious package of deliverables aims at mobilizing business families and their firms to embed sustainability into their business strategies, thereby committing to concrete, measurable contributions towards the SDGs. Key components of the FBSD Initiative include, among others, the family business sustainability pledge and the adoption of transparent and comparable core sustainability indicators for family firm reporting and a capacity-building programme.
To encourage sustainability reporting and higher levels of transparency, FBSD is launching its online platform to benchmark and track progress against core sustainability indicators for family business.
Issues to be addressed:
- What are the key drivers for family firms to adopt the sustainability agenda?
- Is there a business narrative for adopting sustainability practices in privately held firms?
- Are the SDGs a fitting blueprint for fostering sustainability among family businesses?
Event Manager: Ms. Christiane Stepanek-Allen
Contact email: Christiane.Stepanek@unctad.org