15 December 2008: During a meeting of the Global Compact Board, which took place in New York, US on 15 December 2008, UN Secretary-General Ban Ki-moon stressed the importance for the private sector to take a leading role in addressing the financial crisis.

He underlined that the current challenges can be turned into
opportunities, reiterating his call for a “Green New Deal” to “create
new employment and foster sustainable markets while safeguarding our
environment and natural resources.” He underlined the need for business
to invest in a sustainable future, noting that climate change is a
long-term issue that “will not vanish” and, if unaddressed, will cause
“further global disruptions.” [UN Press Release]