Five Major Wins By the UN Global Compact in 2023

New York, NY, United States of America

Reflecting on the past year’s achievements, the UN Global Compact stood at a crossroads in our mission to advance the 2030 Agenda. Amidst pressing geopolitical tensions, climate challenges and social inequities, businesses must make more ambitious strides in 2024. The challenges of the past year underscored the urgent need for businesses to take more credible, accountable action in the year ahead.

We have heard widespread calls for action, accountability and credibility, with more conversations on carbon emissions reduction happening across industries. With the conclusions of COP28 in mind, we celebrate five major successes that showcase our collective impact as the world’s largest sustainability initiative – and the importance of keeping up our important work. Here are some 2023 highlights from the UN Global Compact to build on in 2024:

1. Forward Faster’s growing traction: Launched at the Leaders Summit in September, Forward Faster aims to increase accountability and transparency by calling for companies to publicly declare their commitments and highlight the actions they will undertake to meet their targets. With more and more companies committed to Forward Faster targets, we are driving companies towards our Global Goals with more credibility than ever. As more companies commit to ambitious targets, we will guide them through the inevitable challenges that can come with decisive and meaningful change. Watch the latest Forward Faster video.

2. One Global Compact at COP28: The UN Global Compact demonstrated a unified effort during COP28. Hosting more than 40 events in collaboration with 10 Local Networks, we engaged companies on critical themes, participated in core processes of the United Nations Framework Convention on Climate Change and ensured private sector contributions to the first Global Stocktake. By leveraging efforts like Forward Faster and the Africa Business Leaders Coalition (ABLC), we united globally as One Global Compact to gather private sector insights and contributions on climate action.

3. Substantial participant growth: The global participant base of the UN Global Compact has grown by 60 per cent since the launch of the 2021-2023 strategy, exceeding more than 20,000 companies. This means that more than one-third of all participating companies have joined in the last three years. This growth is underscored by the enduring commitment of our participants, with a remarkable 95 per cent retention rate globally. Our expanding network indicates that once companies join, they remain dedicated to our shared goals.

4. Unprecedented global expansion: Since the launch of our 2021-2023 strategy, the UN Global Compact has significantly expanded its regional network, establishing hubs in Abuja, Bangkok, Copenhagen, Dubai and Panama City. With a global footprint spanning 100 countries (far exceeding our initial target), our collaborative efforts feature 62 Local Networks, with 15 new Country Managers poised to support our further expansion.

5. Increase in Academy registrations: In 2023, the UN Global Compact Academy witnessed more than 95,000 course participants reporting a 4.4/5 satisfaction rate. This represents a substantial 260 per cent growth across the platform in 180+ countries. The success of our Academy courses, complemented by the COP28 Debrief session and the 2024 Academy portfolio, highlights our ability to scale impact with digital tools and resources – especially with critical new initiatives like Forward Faster.

As we build momentum towards 2030, the UN Global Compact is poised to help businesses move Forward Faster. Much faster. To paraphrase the vice chair of the UN Global Compact Board Paul Polman at our recent Caring for Climate meeting: “If you are not uncomfortable, you are doing it wrong”.

We are ready to support our participants through their growing pains and celebrate their accomplishments along the way. Join Forward Faster and secure the future of your business, the world’s people and our planet.