ISLAMABAD: The British Council and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Monday signed an agreement to promote growth of social enterprise and social impact investment across the Asia-Pacific region as a means of supporting progress on the sustainable development goals (SDGs).
The British Council and the ESCAP will cooperate to provide research, analysis, training, policy dialogues and offer guidance to support policymakers and other stakeholders in formulating and implementing policies and strategies that foster social enterprise and create enabling environments for social impact investment.
In support of this agenda, the British Council and ESCAP will endeavour to increase collaboration and participation by all stakeholders in Asia and the Pacific and to design programmes and policies that are contextually relevant to the region. Their aim will be to support countries to promote social innovation, inclusion, sustainable job creation, and address some of the social and environmental challenges the region faces through private sector models.
Social enterprises harness trade, investment and business activity towards social and environmental objectives and are increasingly recognised as critical drivers of innovation for sustainable development.
ESCAP Executive Secretary Dr Shamshad Akhtar said, “The concepts of social enterprise and social impact investment have been gathering momentum in the region. The three dimensions of sustainable development embodied in the SDGs – economic, social and environmental – underpin the transition to a sustainable future. Several governments in the Asia-Pacific region as well as the UK government have been at the forefront of innovative policymaking on this agenda. The partnership between ESCAP and the British Council will pool this rich expertise and share effective practices more broadly to shift this movement from the margins to the mainstream.”
British Council Chief Executive Sir Ciarán Devane said, “The British Council is delighted to partner with the ESCAP to foster social enterprise and social impact investment across the Asia Pacific region. By supporting policymakers to create conditions in which social enterprise can thrive, we aim to jointly promote innovative solutions to entrenched social and environmental problems, spur sustainable and inclusive development, and provide further evidence of the critical roles that social enterprise and social impact investment can play in support of the sustainable development goals.”
