The United Nations Development Programme in Sri Lanka (UNDP) and the UN Global Compact Network Sri Lanka (Network Sri Lanka) has recently renewed their commitment through the signing of the third Memorandum of Understanding (MoU), in a move towards advancing sustainable development.

The agreement aims to join efforts in facilitating private-sector participation and promoting sustainable development in Sri Lanka, the UNDP said in a statement.

As the first non-private sector entity to secure a position on the Network Sri Lanka  Board, UNDP has nurtured a robust partnership through years of collaboration with  Network Sri Lanka. This aligns with UNDP’s commitment to enhancing development activities to foster public dialogue, improve awareness among the business community on the Sustainable Development Goals (SDGs) and enable their engagement to accelerate progress on the 2030 Agenda for Sustainable Development, it added.

Through the collaboration with Network Sri Lanka, businesses and non-businesses will be encouraged to conduct responsible business practices to advance the SDGs in key areas such as governance, climate resilience, digitalization, innovation, sustainable finance, and gender, according to the UNDP.

This strategic partnership reflects the joint commitment of UNDP and Network Sri Lanka to promote innovation and responsible business practices while working towards achieving the ambitious goals outlined in the 2030 Agenda, the statement added.