The British Council and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) today signed a collaborative agreement to promote the 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 ESCAP will cooperate to provide research, analysis, training, policy dialogues and offer guidance to support policy makers 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 recognized as critical drivers of innovation for sustainable development. A growing body of research indicates that social enterprises are creating jobs for disadvantaged groups, empowering women and young people, and addressing social exclusion across the Asia-Pacific region.
Dr. Shamshad Akhtar, Executive Secretary of ESCAP, said, “The concepts and application 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 United Kingdom 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.”
Sir Ciarán Devane, the Chief Executive of the British Council, said, “The British Council is delighted to partner with ESCAP to foster social enterprise and social impact investment across the Asia Pacific region. By supporting policy makers 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.”