Facebook’s Commitment to Decent Work and Economic Growth
Facebook’s Commitment to United Nations Sustainable Development Goal 8
Facebook BusinessBy Arielle Gross Samuels Head of Global Business Strategy and Engagement at Facebook
The (SDGs) from the United Nations (UN) represent a global mandate to secure a better future for everyone by 2030. From ending poverty and hunger to fighting for gender equality and climate change, the says the SDGs are a “call for action by all countries – poor, rich and middle-income – to promote prosperity while protecting the planet.”
Of the 17 SDGs, SDG 8 focuses on decent work and economic growth — issues that are of critical importance against the backdrop of an ongoing global pandemic. Facebook’s commitment to SDG 8 includes improving economic productivity and accelerating equality in business by ensuring digital access for all, boosting liquidity to diverse businesses, addressing youth unemployment and eliminating the gender gap.
Ensuring Digital Access for All
Over the years, Facebook has invested in the infrastructure and corporate partnerships necessary to bring people online, because we know that you can’t access the benefits of the digital economy if you can’t access the internet.
For example, we recently commissioned three reports that examined the economic impact of our connectivity investments in Sub-Saharan Africa, the Association of Southeast Asian Nations and Latin America. The reports estimated that these programs would generate more than $200 billion in economic growth over the next five years.
Free Educational Resources
We are committed to improving people’s access to free educational resources so they can build new skills that will help them within their careers. Facebook offers a range of programs, like — a free website aimed at helping young people learn to code and find coding jobs, and Elevate — a program with a focus on diverse communities that offers free training in digital business skills. We also recently announced that we’re giving 100,000 scholarships to Black students working toward digital skills certifications through our Facebook Blueprint program.
Boosting Liquidity to Diverse Businesses
In response to the hardships that COVID-19 created for businesses all over the world, Facebook committed $100 million in grant funding to 30,000 small businesses globally, with $20 million reserved for minority and women-owned businesses. Given the outsized devastation that COVID-19 had on Black communities, Facebook also made a commitment to invest $100 million this year in the Black community in the US, part of a broader commitment to invest $1.1 billion in diverse suppliers and communities nationwide.
Addressing Youth Unemployment
Young people and their employment prospects are a critical aspect of global economic success. To this end, Facebook has partnered with 20 other companies supporting the Global Alliance for YOUth — an organization founded by Nestle that helps young people around the world learn the necessary skills to thrive in the world of work. Their is to help 15 million young people build digital and STEM career skills by 2022.
Eliminating the Gender Gap
Even before the pandemic, women earned about 20% less than men on average. According to , at the rate that the current gender pay gap is increasing in 2020, it could take 70 years to reach gender parity. To do our part here, Facebook has made an ongoing commitment to support the growth of women entrepreneurs. Through our She Means Business program, we’ve helped over 500,000 women entrepreneurs make valuable connections, share advice and grow their businesses together. We’ve partnered with the UN to close the “gender data gap” and shed light on how policies and programs are affecting women’s economic livelihood and empowerment.
Facebook will continue to play a role in helping businesses thrive, through advancements in economic productivity and business equality. Global connectivity has great promise, and Facebook remains committed to ensuring its benefits are shared by everyone.
To learn more about Facebook's commitment to SDGs, tune in to our Facebook at the United Nations General Assembly , kicking off September 21.
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September 16, 2020
Facebook’s Commitment to United Nations Sustainable Development Goal 8
By Arielle Gross Samuels
Head of Global Business Strategy and Engagement at Facebook
T
Of the 17 SDGs, SDG 8 focuses on decent work and economic growth — issues that are of critical importance against the backdrop of an ongoing global pandemic. Facebook’s commitment to SDG 8 includes improving economic productivity and accelerating equality in business by ensuring digital access for all, boosting liquidity to diverse businesses, addressing youth unemployment and eliminating the gender gap.
Ensuring Digital Access for All
Over the years, Facebook has invested in the infrastructure and corporate partnerships necessary to bring people online, because we know that you can’t access the benefits of the digital economy if you can’t access the internet.
For example, we recently commissioned three reports that examined the economic impact of our connectivity investments in Sub-Saharan Africa, the Association of Southeast Asian Nations and Latin America. The reports estimated that these programs would generate more than $200 billion in economic growth over the next five years.
Free Educational Resources
We are committed to improving people’s access to free educational resources so they can build new skills that will help them within their careers. Facebook offers a range of programs, like TechPrep — a free website aimed at helping young people learn to code and find coding jobs, and Elevate — a program with a focus on diverse communities that offers free training in digital business skills. We also recently announced that we’re giving 100,000 scholarships to Black students working toward digital skills certifications through our Facebook Blueprint program.
Boosting Liquidity to Diverse Businesses
In response to the hardships that COVID-19 created for businesses all over the world, Facebook committed $100 million in grant funding to 30,000 small businesses globally, with $20 million reserved for minority and women-owned businesses. Given the outsized devastation that COVID-19 had on Black communities, Facebook also made a commitment to invest $100 million this year in the Black community in the US, part of a broader commitment to invest $1.1 billion in diverse suppliers and communities nationwide.
Addressing Youth Unemployment
Young people and their employment prospects are a critical aspect of global economic success. To this end, Facebook has partnered with 20 other companies supporting the Global Alliance for YOUth — an organization founded by Nestle that helps young people around the world learn the necessary skills to thrive in the world of work. Their immediate goal is to help 15 million young people build digital and STEM career skills by 2022.
Eliminating the Gender Gap
Even before the pandemic, women earned about 20% less than men on average. According to UN Women, at the rate that the current gender pay gap is increasing in 2020, it could take 70 years to reach gender parity. To do our part here, Facebook has made an ongoing commitment to support the growth of women entrepreneurs. Through our She Means Business program, we’ve helped over 500,000 women entrepreneurs make valuable connections, share advice and grow their businesses together. We’ve partnered with the UN to close the “gender data gap” and shed light on how policies and programs are affecting women’s economic livelihood and empowerment.
Facebook will continue to play a role in helping businesses thrive, through advancements in economic productivity and business equality. Global connectivity has great promise, and Facebook remains committed to ensuring its benefits are shared by everyone.
To learn more about Facebook's commitment to SDGs, tune in to our Facebook at the United Nations General Assembly virtual event series, kicking off September 21.
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