Safaricom, Kenya’s leading telecommunications company, has joined the UN Global Compact’s Forward Faster initiative.
The initiative aims to accelerate private sector action to accomplish the 17 Sustainable Development Goals (SDGs) and the 2030 Agenda.
It encourages business leaders worldwide to take quantifiable, credible, and ambitious action in areas with the potential to accelerate progress across all 17 SDGs and where the private sector can collectively have the greatest, quickest impact by 2030.
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The initiative focuses on the Sustainable Development Goals for Gender, Climate Action, Living Wage, Water Resilience, and 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, CEO of Safaricom.
“As much as we are doing a lot in short and long-term investments to integrate 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 to fulfil our agenda,” added Mr Ndegwa.
Safaricom has implemented nine of the 17 SDGs in its business operations and has already mobilized regional CEOs to join the African Business Leaders Coalition to address climate change issues.
In early September, it received a Ksh15 billion (US$102 million) Sustainability-Linked Loan to boost its Environmental, Social, and Governance (ESG) strategy.
The loan will allow the corporation to diversify its investments as it works toward achieving important ESG goals.
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