Secretary-General, at Global Compact Seoul Meeting, Calls on Korean Companies to Do More to Address Poverty, Climate Change, Conflict

Following are UN Secretary-General Ban Ki-moon’s remarks, as prepared for delivery, at the Global Compact Network Republic of Korea, in Seoul today:

Thank you very much for your participation.  Wherever I go in the world, I try to meet with members of our Global Compact Local Networks.

Korea Network is one of our best.  I realize I may sound like I am favouring my own country.  Certainly, I am proud to be Korean — but I am a global citizen.

The fact is this Network is a leader.  Last year, you were named one of the top-10 best performing Networks in the Global Compact.  Congratulations.

I also deeply appreciate your initiative to establish the China-Japan-Korea Round Table.  This is an important forum for dialogue.  And it is proof that you champion United Nations values of peace and mutual respect.

Today, we are taking important steps forward.  I thank you for helping to bring the Korea Exchange into the fold of the Sustainable Stock Exchange.  I am also pleased to welcome the establishment of a Business for Peace chapter here in Korea.

The Korean Network now has 285 members.  I hope it will grow even more and break the 300 mark.  I need you to do much more to respond to the great issues confronting our planet:  poverty, climate change and conflict.

Companies that take this approach succeed.  They find that helping people boosts the bottom line.  More and more, companies want to respond to the concerns of shareholders and consumers for corporate social responsibility.

We live in an interlinked world.  For a long time, experts explained globalization in terms of economic integration.  But, now there is a globalization of ideas and interests.

The United Nations is now developing a new set of sustainable development goals (SDGs) to continue our historic Millennium Development Goals (MDGs).  The MDGs were the largest anti-poverty campaign in history.  The SDGs will be even more ambitious.

When it came time to set the MDGs, the United Nations convened Governments from around the world.  That was 15 years ago.  Today, this approach is not enough.  So, to create the SDGs, we are consulting with partners from around the world, including the business community.  I have very high expectations for the private sector to contribute to our global goals.

Businesses will be pivotal to success on ending poverty and rising to the climate challenge.  The SDGs provide a platform for aligning private action and public policies.  This vision covers every country.

Korean industry is dynamic and growing.  I am here to call on you to be even more creative in your contributions to global progress.

I have applauded the very important measures that the Korean Government and companies have taken so far.  These are critical to address the fact that Korea is one of the highest emission-producing countries within the Organisation for Economic Co-operation and Development (OECD).

I welcome the carbon market launched in January.  I applaud lawmakers for adopting progressive legislation on the environment.  There is much more that you can do.  The Global Compact makes it easy to start.  If you have not already joined its initiatives, they are there to help your businesses.  I urge you to join Caring for Climate, the CEO Water Mandate and my “Sustainable Energy for All” initiative.

This year is a time for global action.  We are building towards our two critical global conferences:  in New York in September to adopt the SDGs, and in Paris in December to adopt the new climate agreement.

But, there is a third meeting in July that will help to determine success.  The Conference on Financing for Development faces an enormous challenge.  Delegates will have to agree on a framework for amassing the financial resources needed to put in action SDGs and climate change agreements.  This might involve more than $1 trillion a year in extra investment.

Korean companies are at a strategic advantage.  You lead a vibrant domestic economy with great global exposure.  Korea and Korean business have strong roots in the developing world.  And of course, they earned their place as leaders among the developed economies.

Korean firms are at the forefront of continuous innovation.  On cell phone technology.  On hybrid cars.  On internet connectivity.  They embrace global integration and show results.  Now it is time to match that global presence with global engagement for the public good.

Let me say a final word about gender equality.  When I came here in 2012, I said I would not return again unless more women were present.  I am pleased to see more women corporate leaders today.  But, if you really want to see dynamic growth, put more women in charge.  Forbes Magazine did a study showing that the more women in the boardroom, the better the profits.

The values that the United Nations defends — equality, human rights, a healthy planet and a common future — can drive economic and financial progress.  I count on Korean companies to strengthen your partnership with the United Nations.