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Abu-Ghazaleh Leads the Development of Social Standards Indicators

GENEVA - On behalf of HE Dr. Talal Abu-Ghazaleh, member of the UNDP SDG Impact Finance (UNSIF) High-Level Advisory Board (HLAB), Ms. Samar Al-Labbad, Deputy Chair, Talal Abu-Ghazaleh Organization (TAG-Org) has recently participated in the last convened meeting of the UNSIF High Level Advisory Board at the World Economic Forum (WEF) Headquarters.

The UNSIF -HLAB is designed to provide strategic advice to the UN on the social impact of policy and economic decisions. HLAB would help UNSIF strengthen its understanding of related social impact investment and development financing topics, thereby broadening its horizons, improving understanding of market dynamics, risks and return frameworks and future drivers of social and economic growth to achieve the Sustainable Development Goals (SDGs).
The meeting was followed by interactive discussions with key WEF leaders, including Chairman Klaus Schwab on three important agenda items namely: Investing for SDGs, Social Entrepreneurship, and the 4th Industrial Revolution.
Ms. Al-Labbad called for the development of social standards indicators saying: “The lack of shared and recognized indicators and metrics of social impact represents obstacle to the growth of the social business sector and limits the ability of organizations in ensuring transparency and accountability, attracting investors, mobilizing resources, monitoring business operations and managing the balance of power among the actors considering their different objectives.”
Accordingly, she expressed the willingness of Dr. Abu-Ghazaleh to lead such a mission if the UNDP SDG Impact Finance (UNSIF) High-Level Advisory Board (HLAB) is interested in developing such Indicators taking into consideration that Dr. Abu-Ghazaleh has always championed standard-setting bodies and organizations and served in more than a dozen international and UN standardization boards, as well as dozens of regional boards in the fields of IT, Education, Accounting, Auditing, IP, World Trade, ISO, etc. 
Meanwhile, HLAB members and representatives reviewed the progress UNSIF has made in the past year, endorsed the future direction, provided important suggestions, and offered practical support to help UNSIF develop more impactful partnerships and initiatives on the ground.