DFAT Private Sector Engagement

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In August 2015, the Hon. Julie Bishop MP, Minister for Foreign Affairs, launched the Ministerial Statement on engaging the private sector in aid and development – Creating shared value through partnership, the Australian Government’s invitation to the private sector to collaborate with the aid program to implement sustainable solutions that tackle development challenges whilst delivering commercial returns.

GCNA / DFAT Partnership

At the launch of the Ministerial Statement, the Foreign Minister announced a significant partnership between DFAT and the Global Compact Network Australia, aimed at driving business engagement in the Sustainable Development Goals, and scaling up corporate sustainability as a key contributor to broader sustainable development in the region.

As a first step under the partnership, the GCNA launched the Sustainable Development Leadership Group, as a key platform for Australian businesses and other key stakeholders to engage in learning, dialogue and action around sustainable development and the Sustainable Development Goals. It also provides a channel for GCNA members to engage directly with DFAT.

DFAT’s Private Sector Engagement and Business Partnerships Platform

The purpose of DFAT’s aid policy – Australian aid: promoting prosperity, reducing poverty, enhancing stability – is to promote Australia’s national interest by contributing to sustainable economic growth and poverty reduction.

To effectively ensure countries develop in a sustainable, stable, market driven way, aid needs to be more innovative and catalytic, leveraging other drivers for development, such as private sector investment and domestic finance. This aid policy emphasises the need for more collaborative approach to sustainable development to create change in today’s domestic and international context.

To that end, the Ministerial Statement on engaging the private sector in aid and development – Creating shared value through partnership invites the private sector to collaborate with the Australian aid program.

How can DFAT and business partner?