Opening speech by Minister for Foreign Trade and Development Ville Tavio at the UN Global Compact Summit of the Future side event “Digitalization for Good & ESG Reporting Standards – Bridging the Gap for a Sustainable Future” in New York on 23 September 2024
Your Excellencies, dear participants,
Digitalization is a key priority for Finland. As a digital forerunner, we understand the potential of digital technologies for reaching the SDGs, strengthening economies and improving people’s welfare.
Our new governmental whitepaper on foreign trade and development includes a strong emphasis on technology. I am happy that the Summit of the Future shows the way for prioritizing digitalization as a key issue for sustainable development.
The Global Digital Compact (GDC) adopted at the Summit is an important milestone, outlining how the UN and all stakeholders can work together to advance fair, inclusive and sustainable digitalization globally. The Compact provides guidance for developed and developing countries alike. Finland has fully supported this process and has taken an active role in the preparation of the Compact. Our priorities have included a strong focus on connectivity, education and skills, gender equality and governance of emerging technologies such as AI.
Gender equality has received special attention in the Global Digital Compact-process. This is because we also work to make technology accessible for all as co-lead of the Generation Equality Action Coalition on Technology and Innovation. In low-income countries only one in five women are online. The Compact should be a key instrument for closing these digital gender gaps.
We should focus on maximizing the potential of technology, while being mindful of the risks involved. It is fundamental that technologies are developed and used responsibly and with respect for human rights. The UN Global Compact can play a key role in making this happen.
As Finland, we want to share our expertise with the world, in connectivity, AI and learning, for example. The role of the private sector is crucial in this. We look to companies for investment and solutions. Under the framework of the EU’s Global Gateway strategy Finland and our national stakeholders contribute finance, expertise and solutions to key projects that aim at bridging the digital divide though high-quality, secure digital infrastructures and driving sustainable digital transformation in partner countries.
The Global Digital Compact calls for increased investments in global digital development. This is needed, but I also want to highlight the need to mobilize more private investments. In Finland, we want to use our official development assistance (ODA) as strategically as possible to have a strong impact on reaching the SDGs. Promoting private capital mobilization in the digital sector will be more and more important to us, using the various instruments that we have. As an example, Finland’s development finance institution Finnfund, which invests in the private sector, has set digital infrastructure and services as an investment priority, and is among the leading development finance organisations in this field.
I wish you a successful event today.