The UN Global Compact Network Ghana has signed a Memorandum of Understanding (MoU) with the Association of Ghana Industries (AGI) to promote ethical, sustainable and responsible business practices across the private sector businesses.
Under the MoU, the UN Global Compact Network Ghana will train members of AGI across the country on Environmental, Social and Governance (ESG) standards, with the aim of positioning Ghanaian companies to compete effectively on the global market.
In addition, as part of the MoU, the UN Global Compact Network Ghana and AGI will collaborate on capacity-building programmes, training and learning initiatives, policy advocacy, research, awareness creation and the sharing of best practices.
The partnership will also encourage Ghanaian companies to join the UN Global Compact Initiative and align their operations with its ten principles covering human rights, labour, environment and anti-corruption.
Speaking at the signing ceremony, the Executive Director of the UN Global Compact Network Ghana, Mr Tolu Kweku LaCroix, said the partnership reflected a shared commitment to responsible business practices and sustainable development.
• Mr LaCroix (right) exchanging the MoU document with Mr Akwaboah
He noted that the agreement signalled AGI’s belief that sustainable business was both possible and necessary in today’s global economy.
According to him, the collaboration would support companies to align their operations with global standards, with a strong focus on ESG integration, regulatory coherence and capacity building.
He added that the partnership would also promote evidence-based policy dialogue to help create an enabling environment for businesses to operate sustainably.
Mr LaCroix described the occasion as a commemorative day and expressed gratitude to stakeholders for their support towards advancing social and environmental sustainability in Ghana.
The Head of the UN Global Compact Network Ghana emphasised that the MoU went beyond a ceremonial exercise and represented a clear signal to the private sector that Ghana’s future economic growth would be driven by responsible and resilient businesses.
He noted that the world was currently in a “decade of action”, where accelerated efforts were required to achieve the Sustainable Development Goals (SDGs).
Mr LaCroix pointed out that climate change, shifting global markets, and growing demands for transparency from investors and consumers had made sustainability a market requirement rather than an option.
He cited emerging global frameworks such as ESG disclosure standards and carbon border measures as evidence that Ghanaian businesses must prepare to remain competitive.
The Chief Executive Officer of AGI, Mr Seth Twum Akwaboah, described the signing of the MoU as “the right thing to do” rather than an obligation.
He said AGI had long taken sustainability, labour standards and good corporate governance seriously, citing the Association’s Ghana Business Code, which incorporated principles similar to those of the UN Global Compact.
Mr Akwaboah stressed that sustainability had become a critical business issue, especially as international markets increasingly demanded traceability and compliance across supply chains.
He warned that non-compliance could result in loss of access to key markets, particularly in Europe.
He assured members that AGI would work closely with the UN Global Compact Network Ghana to ensure effective implementation of the agreement through training, peer learning and mentoring across the business ecosystem, from small and medium enterprises to large corporations.
The Participant Engagement Manager of the UN Global Compact Network Ghana, Ms Mina Pokua Agyemang, said the MoU formalised an already strong relationship between the two institutions.
She explained that the agreement would introduce clear structures and key performance indicators to track impact and ensure sustained capacity building for businesses.
She added that the partnership demonstrated a shared dedication to promoting responsible and sustainable business practices in Ghana.
BY KINGSLEY ASARE
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