The scale and ambition of the United Nations Sustainable Development Goals (SDGs) create a tremendous opportunity for the private sector to demonstrate the central role it plays in human prosperity. Business will serve as an essential partner to meet the challenge of achieving the SDGs.
The recently unveiled OECD Development Co-operation Report 2016: The Sustainable Development Goals as Business Opportunities, acknowledges the private sector’s role as a “powerful promoter of sustainable development”. It also highlights the opportunity for the governments to leverage private sector contribution, helping to manage risk and providing insights into effective policy and practice. The publication lists the enabling factors, as well as the constraints, for businesses and investors interested in addressing sustainable development challenges.
The report also provides guidance on responsible business conduct and outlines the challenges in mobilizing and measuring private finance to achieve the SDGs. Throughout the report, practical examples illustrate how business is already promoting sustainable development and inclusive growth in developing countries. USCIB and its global network contributed to the report:
- Shaun Donnelly, USCIB’s vice president for investment and financial services, contributed an article titled “Pro-Investment policies really matter!” about the link between good investment policies and development (p. 61 in the report).
- Louise Kantrow, the International Chamber of Commerce’s permanent representative to the United Nations, highlighted the shared interests between the business community and the development community in her piece, “Sustainable development challenges are business challenges.” (p. 28 in the report)
- And during the report’s launch event, USCIB Vice President for Labor Affairs, Corporate Responsibility and Governance Ariel Meyerstein showcased the influential Business for 2030 website, an initiative by USCIB highlighting the contributions from the private sector in helping to achieve the SDGs.
More details, including ways to access the report can be found on the OECD Website.