The United Nations’ Sustainable Development Fund organizes a dialogue with companies from various sectors to discuss the private sector’s contribution to the Millennium Sustainable Development Goals (SDG) at the headquarters of BBVA Compass in Houston (Texas)
During this workshop, ideas and experiences were exchanged on how to incorporate the SDG and put them into practice in the companies’ activities in order to work toward fulfilling the new sustainable development agenda and its 17 goals.
Paloma Durán, director of the United Nations’ Sustainable Development Goals Fund said that “private industry is necessary to reach the SDG”.
Paloma Durán, director of the United Nations’ Sustainable Development Goals Fund
“We’re here to talk about how to contribute to a sustainable development agenda that applies to every corner of the globe” BBVA Compass Chairman and CEO Manolo Sánchez said as he opened the meeting.
Private sector can contribute to some of the SDG such us fight against poverty, women empowerment, decent work and economic growth.
Manolo Sánchez, BBVA Compass Chairman and CEO
The BBVAMF was recognized as an example of the contribution of the private sector in these four aspects, and last year became part of the SDG advisory group. The chairman, Javier M. Flores, took part in the meeting and shared the experience of the BBVAMF, which supports vulnerable entrepreneurs in Latin America with Productive Finance for their sustainable and inclusive economic and social development:
“We currently serve 1.8 million vulnerable people. The goal is the sustainable development of our entrepreneurs through the surpluses generated from their businesses. We have pledged to improve their well-being and that of their families”, said Javier M. Flores.
Javier M. Flores, BBVA Microfinance Foundation’s CEO
As noted in the BBVAMF’s 2015 Social Performance Report entitled “Measuring what really matters”, the progress of small entrepreneurs is particularly significant: the surpluses of customers that remain with the Foundation’s institutions grow at an annual rate of 16%, and 30% for assets.
Since its creation in 2007, the BBVAMF has delivered total loans worth over 7.2 billion dollars to almost 5 million vulnerable entrepreneurs, most of whom are women.
This workshop in the United States concludes the meetings organized by the Sustainable Development Fund in Colombia, Nigeria and Spain, in collaboration with the heads of the companies in this Group.
The conclusions of these debates will be collected in a report that will analyze how companies can contribute to the Universal Sustainable Development Agenda and to fulfilling its 17 goals. The report will be entitled “Private Sector Contribution to the Universal Sustainable Development Program”, and will be presented in November 2016 at the United Nations headquarters in New York.