The United Nations has urged business leaders in Africa and the Middle East to embrace ethical and sustainable practices in order to succeed in modern economic environment.
Speaking on the side-lines a UN Global Compact forum in Nairobi on Monday, the organisation’s humanitarian coordinator, Mr Modibo Toure, said that businesses can no longer afford to ignore issues like labour rights and climate change if they want to succeed.
“The pursuit of ethical standards is congruent to the bottom line. You can no longer strengthen one without the other,” Mr Toure said.
The forum has brought together business leaders and government officials from Africa and the Middle East.
He added that the presence of a rigorous ethics culture in African economies will go a long way in attracting Foreign Direct Investments (FDI).
The UN Global Compact is a platform that engages the private sector in developing solutions to improve social and economic equity across the globe.
During the two-day forum in Nairobi, business leaders are expected to take stock of international progress in achieving the Millennium Development Goals (MDGs).
They will also come up with recommendations for Sustainable Development Goals (SDGs) which will come into effect following the expiry of the MDGs in 2015.
“Different regions will have different priorities for the SDGs. We have to marry all these concerns,” he said.
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