Private Sector Engagement Key to Achieving the 2030 SDGs

(3BL Media/Justmeans) – The 2030 Agenda for Sustainable Development, along with the Sustainable Development Goals (SDGs), are now widely accepted as a uniting force for global change. A recent Koreo survey of 500 human resources leaders in the United Kingdom found that 47 percent of the organizations consider the SDGs important for their day to day work. However, the private sector must proactively engage with civil society organizations to help ensure successful implementation of the SDGs.

As a recent example of private sector engagement, the World Bank has joined hands with BNP Paribas to launch a program of equity index-linked World Bank bonds to enable investors to support and benefit from the SDGs. Investors can contribute to financing sustainable development projects through the bonds; the bonds’ performance will be linked to the Solactive SDGs World Index.

In November, the University of Sydney hosted the ‘SDGs Australia 2016 conference,’ which was convened to develop a roadmap for Australia to achieve the SDGs, both domestically and regionally. Participants called for enhancing youth involvement, reducing energy, water use, and GHG emissions in buildings, and achieving net zero environmental impacts.

The UN Sustainable Development Solutions Network (SDSN) Nigeria and First Planet Consultant Ltd recently hosted a workshop called ‘Making the SDGs the Business of the Private Sector in Nigeria.’ Proposed ideas at the forum included the development of an SDG curriculum and instructional materials, including a SDGs self-teaching guide; upgrading educational infrastructure on information and communications technology (ICT), water and sanitation and other areas; and construction of waste recycle and biofuel for clean energy plants.

At a dialogue organized byThe Citizen’s Platform for SDGs, Bangladesh and the Metropolitan Chamber of Commerce and Industry (MCCI) participants recommended developing public-private planning mechanism to ensure Bangladesh achieves the SDGs. The dialogue titled ‘Role of Private Sector in SDG implementation’ also highlighted the private sector’s role in ensuring transparency and accountability in the SDG process and the importance of including small and medium enterprises (SMEs) in implementation processes and mechanisms.

Source: IISD

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