Fifth Preparatory Webinar for the SIDS Global Business Network Forum 2024

Webinar 5: "Island Ethics: A Principles-based Approach to Doing Business in Small Island Developing States"

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18 April, 2024, 8 - 9 am (New York time).

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Background

Spearheaded by the United Nations Office of the High Representative for Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States (OHRLLS), the Small Island Developing States Global Business Network (SIDS-GBN) is a platform and resource-hub for the facilitation of private sector partnerships that contribute to the sustainable development of SIDS.

The SIDS-GBN arose from the Third International Conference on SIDS in 2014 when OHRLLS organized a two-day private sector forum on the sidelines of the Conference.

The establishment of the SIDS-GBN was formally recognized by the General Assembly through its resolution A/RES/71/225 which stated “Noting with appreciation the establishment of the Small Island Developing States Global Business Network to share best practices and lessons learned among business sectors in small island developing States, and its contribution to the sustainable development of small island developing States, and encouraging its coherence with the Small Island Developing States Partnership Framework.”

The next SIDS-GBN Forum will take place in 2024, the same year as the fourth International Conference on SIDS. At the fourth Conference, a new Programme of Action for SIDS will be adopted to guide a new agenda for sustainable development in SIDS. Both the Conference and the Forum have preparatory processes that are running up until the events take place.

This provides a unique opportunity to review the first decade of the SIDS-GBN and set the direction for its next decade. It also allows for the GBN to feed into discussions on the new SIDS agenda. The parallel processes also make it possible for the GBN to hear from the private sector on the new SIDS agenda.

As part of the preparatory process of the SIDS-GBN Forum 2024, OHRLLS will organize a series of preparatory webinars and consultations to gather stakeholders to discuss priorities and thematic areas for the Forum.

Objectives

The objectives of the meetings are to:

Inform the private sector on the SIDS4 process and the SIDS-GBN Forum 2024 process.
Explore with the private sector how their priorities could align with the sustainable development of SIDS in the coming decade.
Identify stakeholders’ priorities for thematic areas at the SIDS-GBN Forum 2024 and the private sector roundtable at SIDS4.
Provide recommendations on how SIDS can better build public-private partnerships that contribute to their sustainable development and the new SIDS agenda.
Share best practices of public-private partnerships that contribute to the sustainable development of SIDS and can be showcased at the SIDS4 Conference.

About webinar 5 Island Ethics: A Principles-based Approach to Doing Business in Small Island Developing States

Throughout the SIDS4 process, SIDS have demonstrated their commitment to provide better jobs for their people, protect human rights, and support the green transition. It is vitally important that engagement with the private sector is aligned with this commitment.

The United Nations Global Compact, the world’s largest sustainability initiative, operates under the vision that sustainability begins with a principles approach to doing business. The Global Compact works with companies to help them align their practices with universal principles for human rights, labour, environmental responsibility, and anti-corruption. These principles are just as important for global companies that operate in SIDS as they are for local business.

The webinar will explore how the Global Compact Principles apply to SIDS and the new SIDS agenda. It will particularly look at the business environment in SIDS and how responsible business facilitates long-term success for businesses operating in SIDS, including Micro Small and Medium Enterprises.