Posted: Tue 13th Jun 2023
To mark London hosting a conference focused on Ukraine's economic recovery from the war with Russia, UK businesses are being encouraged to back a statement supporting the country.
The Ukraine Recovery Conference (URC23) takes place on 21-22 June with the aim of "contributing to the immediate recovery and longer-term reconstruction efforts in support of building Ukraine's economic prosperity".
Organisers also say the event will drive "greater momentum on the role of the private sector and the reforms required to drive investment as essential parts of Ukraine's long-term recovery".
Launching at URC23 is the Ukraine Business Compact, described as "a declarative and non-binding statement of international business support for Ukraine's recovery".
By signing the compact, businesses pledge to engage in trade and investment, peer-to-peer expertise sharing, pro bono work and business activities such as:
Investing in business opportunities in Ukraine, participating where possible in reconstruction through direct financial contributions or investments into Ukrainian operations, and/or
Working with Ukraine-based companies, including to harness the country's existing and future potential via trade, expertise sharing and partnerships, and/or
Supporting Ukraine-wide development and economic growth, where possible and in line with business objectives.
Businesses can sign the Ukraine Business Compact here.
Organisers of the conference said:
"The Ukraine Business Compact is an opportunity for each business to make a visible statement of their support to the values and principles of Ukraine's recovery.
"The commitment of each business (unless requested otherwise) will be showcased at the URC in London, as well as at further public events on Ukraine's reconstruction.
"We hope that signing the Ukraine Business Compact will send an important message to the core stakeholders of businesses that choose to support it and that signatories will respond to further invitations to support and participate in recovery."
Other ways businesses can support Ukraine
Many UK small firms are supporting Ukraine as Enterprise Nation highlighted in March 2022 with an extensive list of small business fundraising activities. Several are still available.
The United Nations (UN) has previously encouraged businesses around the world to back Ukraine. Among its advice is the following:
"Support Ukrainian-born businesses with your wallet. For example, if your company is using Grammarly, start paying for their subscription rather than continuing to use the free version. Also consider employing skilled Ukrainian employees and sponsoring their visa to work safely in the UK."
In another statement, the UN said:
"Businesses can play a crucial role in ensuring that the rights of the people of Ukraine are respected through their activities and their operations.
"We urge you all to step up and accelerate action that will support the Ukrainian economy and population."