ESCAP, iBAN partner to strengthen inclusive business policy environment in South-East Asia

The Inclusive Business Action Network (iBAN) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) announced a joint initiative today to help governments to enhance the policy environment for inclusive business in South-East Asia.

iBAN is a global initiative implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), which supports the scaling and replication of inclusive business models to improve the lives of the poor.

The partnership will focus on three main areas: country-level analysis and advice, regional policy dialogues and knowledge exchange, according to a joint statement sent by ESACAP and iBAN.

iBAN executive director Christian Jahn said, “ESCAP’s regional expertise and knowledge in promoting inclusive innovation policies makes it ideally placed to support a strong policy foundation to spur inclusive businesses in this fast-growing region.”

“The United Nations recognize the importance of businesses in achieving the Sustainable Development Goals. However, the right policy environment needs to be in place to incentivize them to be more inclusive,” said Mia Mikic, Director of Trade, Investment and Innovation at ESCAP.

“Innovation is not just about technology but also innovative business models and changes in mindsets. One could argue that the most impactful innovation for the SDGs could be the shift from business as usual to inclusive business.”

To strengthen inclusive business policy environment, the statement noted, governments can encourage the growth of inclusive business by implementing policies that facilitate impact investments. They can also reward companies that have a social impact, and boost innovations that allow businesses to be inclusive while meeting profit margins.