9th edition of the Corporate Social Responsibility (CSR) and Sustainable Development Initiatives (SDI) fair: strengthening the private sector's commitment to the implementation of the Kunming-Montreal Global Biodiversity Framework

Posted on 12 July 2024

Corporate Social Responsibility (CSR) is gaining considerable momentum, with companies and industries increasingly aware of the role they can play in promoting sustainable development.

The various environmental issues linked to the triple crisis of climate change, loss of biodiversity and pollution have led companies to reflect on and revise their policies to have an impact on social and environmental issues. The Minister of Environment and Sustainable Development, Max Andonirina Fontaine, emphasized the relevance of CSR: "CSR is already a reality for many companies: integrate it strategically to strengthen both competitiveness and environmental and social impact". CSR approaches have evolved over time, from simple social actions to social governance, sustainable management of natural resources and human development. Many companies are now aligning and committing themselves to these practices, making the private sector an important lever in the implementation of the Sustainable Development Goals and global agreements on climate and biodiversity.

Madagascar is committed to implementing the new Global Biodiversity Framework in 2022, to reverse biodiversity loss by 2030. The CSR & SDI fair represents an opportunity for WWF Madagascar draw the private sector attention to the importance and challenges of this Global Biodiversity Framework. This key event for private sector is a platform for exchange, information and awareness-raising around this global framework and its 6 specific targets which involves the private sector. Over two days (July 11-12) of dynamic, interactive conferences and discussions, ministries, financial institutions, economic operators, the private sector and NGOs, notably WWF, were able to put light on sustainable initiatives linked to the targets of the global framework, and the associated competitive advantages for companies committed to a biodiversity-friendly approach.

Promoting private-sector commitment and action in favor of socio-environmental issues is becoming an imperative to support the transition to a greener and more sustainable economy. Ulrichia Rabefitiavana fromInnoveo, the event planner, stressed the importance of supporting companies in their CSR approach. WWF, through the Dutch Fund for Climate and Development (DFCD), supports the private sector by enabling them to invest in corporate projects with a high environmental and social impact.