Dr. Mohieldin highlights global challenges, Africa’s potential and the role of corporate sustainability

This came during the events of the first edition of the annual forum of the United Nations Global Compact, held under the theme “Towards a Sustainable Africa,” organized by the Egyptian Network of the United Nations Global Compact, the UN’s hallmark initiative for global corporate sustainability. The summit aims to stimulate joint efforts and cooperation among various stakeholders and contribute to creating a supportive environment for companies to play an active and responsible role in promoting sustainability and the achievement of the SDGs.

Dr. Mahmoud Mohieldin, United Nations Special Envoy for Financing the 2030 Sustainable Development Agenda, praised the various issues discussed by the summit in its inaugural edition this year. These issues were chosen based on trends that are globally significant in the field of sustainability in 2024. He pointed out that there is a global crisis in achieving the Sustainable Development Goals (SDGs) amid a financing crisis, wars, and global tensions. He added that only 15% of SDG targets are on track to be achieved by 2030, with 48% moderately or severely off track and 37% in stagnation or regression.

Dr. Mohieldin highlighted that current growth rates are insufficient to achieve the SDGs, emphasizing the need to significantly increase output through strategic investment in human capital, technology, infrastructure, and sustainability. He highlighted that the financing gap needed to achieve the SDGs ranges between $4 and $5.4 trillion annually, noting that bridging this gap is a responsibility of the international community as a whole and requires collaborative effort at all levels, starting from localizing development at the national level and ensuring the availability of better data from the bottom up.

Dr. Mohieldin stressed that green initiatives are vital to address climate change, shedding light on the regional platforms for climate projects and the national initiative for smart and green project. He added that without international cooperation and stronger multilateralism, climate goals between mitigation and adaptation will not be achieved.