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ISSUE 136 | 2024

Vesna Marinkovic U.

The Executive Director of the United Nations Global Compact in Bolivia promotes the idea that companies become catalysts for the Sustainable Development Goals (SDGs) and tackle global challenges such as climate change, inequality, and the energy transition towards more sustainable and resilient economies…

1What are the main objectives of the Global Compact as a corporate sustainability initiative in the current context of the United Nations?

As the world's largest corporate sustainability initiative, the United Nations Global Compact seeks to align business operations with universal principles on human rights, labor, the environment, and anti-corruption. In the current context, we promote companies to become catalysts for the Sustainable Development Goals (SDGs) and tackle global challenges such as climate change, inequality, and the energy transition towards more sustainable and resilient economies. The goal is to generate a positive impact both in the corporate sphere and in society and the environment.

2How do you ensure that participating companies comply with the Global Compact principles in areas such as climate action, water management, and energy transition?

To ensure companies comply with the Global Compact principles, we encourage transparency and ongoing commitment. This includes the annual submission of progress reports detailing their advances and challenges. Additionally, we offer guidance, training, and workshops to help companies improve their impact and measure it according to global standards. Companies are encouraged to share their learnings and implement verifiable practices.

“We aim for companies to adopt innovative technologies and processes that reduce their environmental footprint and increase their resource efficiency.”

3What are the key strategies to expand the reach of the Global Compact and get more companies to commit to integrating sustainability into their operations?

Expanding our reach means engaging with companies of all sectors and sizes, promoting the tangible benefits of corporate sustainability. Our key strategies include forming partnerships to reach more businesses and developing specific programs that highlight the strategic value of sustainability. Recognition and certifications are also important to highlight the commitment and effort of companies implementing sustainable practices.

4How does the Global Compact collaborate with other United Nations agencies to align its efforts with the Sustainable Development Goals (SDGs)?

Collaboration between the Global Compact and other UN agencies is essential to align with the SDGs and maximize impact. We work closely with several of them to implement joint projects, educational resources, and assessment tools that guide companies on their path to sustainability. Coordination allows us to optimize resources and accelerate progress toward the SDGs.

5What role does business innovation play in the sustainability strategies promoted by the Global Compact?

Innovation is key in the sustainability strategies promoted by the Global Compact. We encourage companies to adopt innovative technologies and processes that reduce their environmental footprint and increase their efficiency in resource use. We foster a culture of sustainability innovation by supporting sustainable startups and idea-sharing platforms, convinced that innovation drives both competitiveness and positive environmental impact.

6What are the main challenges the Global Compact faces in ensuring companies not only adhere to the principles but actually integrate them into their daily practices, especially in countries like Bolivia?

One of the biggest challenges in Bolivia is ensuring that companies genuinely integrate sustainability principles into their daily practices, beyond formal adherence. Structural factors, such as limited access to green financing and underdeveloped infrastructure, represent both barriers and opportunities. Additionally, in many cases, a lack of knowledge or technical resources can make it difficult to implement sustainable changes. For this reason, the Global Compact focuses on training and providing practical tools to help companies realistically and effectively adopt sustainable practices through our Academy, accelerator programs, working groups, and various events.

7What are the Global Compact’s projections for the next five years in terms of impact on corporate sustainability and expansion of its partner network?

In the coming years, we aim to expand our network of committed companies and deepen the impact of corporate sustainability in Bolivia. We expect to see significant growth in the adoption of circular economy practices, energy efficiency, and social responsibility. We want more companies not only to be aware of but also to implement sustainability principles as an integral part of their business strategy. Through strategic partnerships, ongoing training, and visibility of results, our goal is to transform the business sector into a key ally for sustainable development in the country.

"... our goal is to transform the business sector into a key ally for sustainable development in the country."