In the last fortnight, Business Fights Poverty joined with other business networks to call for renewed commitment to international aid; and highlighted how business is supporting young entrepreneurship, anti-racism, decent jobs, gender equality and tackling modern slavery. Plus, don’t miss our Rebuild Better Virtual Summit on Gender Equality on 3rd December 2020.
Over the last fortnight, Business Fights Poverty has been alarmed by reports that the Treasury is due to cut foreign aid spending from 0.7% of GDP to 0.5% in 2021. The cut, due to be announced on Wednesday, comes on top of a £2.9 billion reduction in foreign aid spending over the course of this year. Our own experience with the COVID-19 Response Centre has shown that in order for business and economies to thrive, we must prioritise the people and communities who are the backbone of global supply chains, and who are often amongst the most vulnerable. UK foreign aid plays a crucial role in this work.
In a letter published by the Financial Times, we joined forces with Business in the Community, CBI, Ethical Trading Initiative, International Chambers of Commerce, The Partnering Initiative and UN Global Compact Network UK to urge the government to step up to the economic challenge of COVID-19 as a global leader. The letter adds the voice of the business community to those of former prime ministers and politicians, faith leaders and the not-for-profit sector who are also calling on the government to reconsider their approach.
Just as governments must take a lead, so too must business. This week we have heard about some wonderful examples of the business sector taking practical action:
The issue of gender equality has become ever more pressing in light of the COVID-19 pandemic, with women and girls bearing the brunt of the social and economic impacts. As Alice Sverdlik, Researcher, Human Settlements, IIED explains, addressing gendered and other inequalities will be central to COVID-19 recovery.
With this in mind, next week we will be delving deeper into what companies can do to support gender equality, in our Rebuild Better Gender Summit on 3rd December 2020. We are delighted to be partnering with CDC, The 2X Challenge, UN Women and CARE International on this free online event, which will inform, inspire and connect you around a shared purpose to improve the lives of women and girls.
The day will include:
Do register to secure your place, and we look forward to welcoming you on the day.