SMEs are the engine of private sector growth, both in developing and developed economies, and are critical to the fulfillment of the Global Goals. Globally, SMEs account for 90 percent of businesses and 50 percent of total employment, with formal firms constituting 40 percent of GDP in emerging economies. The ILO reports that in developing economies, seven out of 10 jobs are created by SMEs. 

In its new strategy, the UN Global Compact has set out to accelerate and scale meaningful SME engagement in sustainability, in accordance with SME capacities and business realities.  The strategy provides meaningful pathways enabling SMEs to identify direct linkages between sustainability and profitability and absorb tailored content and programmatic interventions aligned with their absorptive capacities. 

This session features panelists who are working on this new strategy as they share why this work is imperative, the vision for how the UNGC will reach SMEs around the world at scale, and how to practically deliver programming that will support SMEs in achieving business success while integrating responsible behavior at the core of their work.