Letter of Intent will help guide private sector to contribute to Sustainable Development Goals
The Food and Agriculture Organization of the United Nations (FAO) and the World Economic Forum (WEF) have signed a Letter of Intent that facilitates more structured channelling of private-sector resources to global causes such as hunger reduction.
The intention enables FAO to better guide the way the private sector supports sustainable development and in particular agri-food system transformation. It builds on FAO Director-General QU Dongyu’s early 2020 invitation to the WEF to work together to protect and strengthen food supply chains during the COVID-19 pandemic.
global corporations and industry networks and plays a very large role in food and agriculture.
The collaboration between FAO and the WEF will also maximize the prospect that more national and multinational companies around the world will be exposed to and adopt FAO-supported guidelines for better business practices and environmental behaviours, without requiring legions of individual agreements.
The timing is opportune as FAO advances its Hand-in-Hand Initiative, which is based on matching private-sector capacities to the nationally-determined local needs of less developed countries. FAO will be organizing and hosting the first ever Hand-in-Hand Initiative Investment Forum in Rome starting the week of 17 October.
Image caption- (L-R) FAO Director-General QU Dongyu and WEF President Borge Brende sign the Letter of Intent