Discussion takes place on private sector participation in sustainable development through UN strategic partnership

2022-05-30 17:00:36

Ulaanbaatar /MONTSAME/. Private entities in Mongolia tend to think of the United Nations’ operations as being limited to implementing social responsibility and financing UN projects. In reality, companies in the private sector are also able to be involved in the activities being carried out by creating correlation between Sustainable Development Goals and business models as well as necessary technical and practical knowledge. 

Thus, the Business Council of Mongolia co-organized its monthly meeting with the UN in Mongolia under the theme, ‘Changing Landscape: Role of Private Sector to Enable Sustainable Development in Mongolia through Strategic Partnerships with the United Nations’, on May 27. 

During the meeting, the participants highlighted opportunities to increase private partnership and participation for sustainable development by utilizing knowledge, expertise, technology, and financial capacities in the framework of multilateral strategic partnerships such as:

• United Nations Sustainable Development Cooperation Framework (UNSDCF),

• Integrated National Financing Framework (INFF),

• Resource Mobilization and Partnership Strategy (RMPS) in order to provide support for Mongolia to achieve the Sustainable Development Goals. 

More specifically, they discussed ensuring the private sector’s role and participation in sustainable development through strategic partnership. Within the UN Sustainable Development Cooperation Framework, one of Mongolia’s strategic objectives is to diversify the economy and improve its productivity and accessibility. 

Two panel discussions were held during the meeting. The first discussion focused on ‘Human Development and Well-being’, while the second discussion was held under the theme, ‘Green, Inclusive and Sustainable Growth’. 

The participants discussed how the UN partners with private entities in Mongolia as well as internationally, and possible financial opportunities that could surface as a result of the partnership.