SAFARICOM JOINS UN GLOBAL COMPACT’S FORWARD FASTER INITIATIVE

 Safaricom   has joined the UN Global Compact’s forward faster initiative that aims at  accelerating  private sector action to deliver on the  seventeen  Sustainable Development Goals (SDGs) and meet the 2030 agenda. The initiative calls on business leaders everywhere to take measurable, credible and ambitious action in areas that have the power to accelerate progress across all the  seventeen  SDGs and where the private sector can collectively make the biggest and  fastest impact by 2030.

 The initiative highlights SDGs on gender, climate action, living wage, water resilience as well as  finance and investment.  “We have taken up the challenge to fast-track key sustainability action areas as the 2030 deadline approaches. I am glad that we at Safaricom are shaping the narrative on the delivery of the SDGs which are key to reducing inequalities and making our planet better,” said Peter Ndegwa, chief executive officer, Safaricom.

“As much as we are doing a lot in short and long-term investments to integrate environmental, social  and  governance ( ESG ) into our business practices, there is still some way to go as global challenges such as climate change, the Covid-19 pandemic and conflicts have slowed down momentum on the achievement of some of the goals. As the private sector, we can collectively find ways to overcome the challenges through partnerships in order  to fulfil our agenda,” he added.

 Safaricom which has incorporated nine of the  seventeen  SDGs in its business operations has in the past rallied chief executive  officers   from the region to commit to the African Business Leaders Coalition in a bid   to address climate change concerns. Earlier this month, Safaricom obtained a Kshs. 15 billion sustainability-linked loan to strengthen its  ESG  agenda. The loan will enable the company to diversify its investments as it progresses towards the achievement of key ESG areas. According to the SDG progress report released earlier this year by UN Secretary-General António Guterres, only  fifteen  per cent of the SDGs targets are on track. The  progress on  forty eight   per cent of the SDGs is weak and insufficient.  Unfortunately,  progress has stalled or reversed on  thirty  seven  per cent of the SDGs.