Allianz chief executive officer Oliver Bäte has been tapped to serve as a co-chair for a United Nations-led international initiative aimed at encouraging sustainable development.
The UN initiative, dubbed the Global Investors for Sustainable Development Alliance (GISD), will leverage finance and investment know-how to establish a roadmap for the 2030 Development Agenda of the United Nations.
In addition to Bäte, Johannesburg Stock Exchange CEO Leila Fourie has been appointed by the UN as the other co-chair of the initiative. The two are joined by the CEOs of Bank of America, PIMCO, Santander, UBS, and other major international corporations. Altogether, 30 business leaders have been called to help keep the finance and investment sectors within sustainable levels.
“As responsible companies, we can create long-term value by embedding sustainability into our core business. Investing in the stable development of societies across the globe is not only the right thing to do, it also provides economic opportunities,” Bäte said in a statement.
The chief executive added that the GISD is convinced that investments in emerging markets can “foster sustainable growth without losing sight of our customers’ interests.”
Members of the GISD commit to actions such as creating partnerships to reinforce relations between investors, governments, and multilateral institutions that promote scalable investment opportunities in developing countries. Members will also encourage the use of innovative financing facilities and tools that enhance the risk-return profile of investments in sustainable development – particularly in sectors and countries where investment is most needed.
The UN’s 2030 Agenda is a commitment of the 193 UN member states to align economic growth with social and economic needs, ensuring good living standards for later generations.