The UN’s New Goals to Spur Sustainable Innovation in Private Sector

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The UN’s New Goals to Spur Sustainable Innovation in Private Sector

by Vikas Vij

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#SDGs require government, civil society and private sector participation http://bit.ly/1FSmSJM via @Justmeans #socinn
Monday, October 5, 2015 - 4:00pm

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Leaders from 193 nations recently converged at the United Nations in New York to adopt 17 new Sustainable Development Goals (SDGs), which will guide global policy and funding for the next 15 years. These Global Goals, which replace the Millennium Development Goals (MDGs), will require everyone to do their part: governments, civil society, and the private sector.

To achieve these goals, an estimated investment of $2 trillion to $3 trillion a year for 15 years will be needed, representing nearly four percent of the world GDP. This hefty scale of investment cannot be achieved unless the private sector plays a key role and comes up with innovative solutions to close the investment gaps. The private sector contributes 60 percent of global GDP and 90 percent of the jobs, which places it in a strategic position to accomplish many of the goals because of better reach and resources.

Tufts’ Fletcher School conducted research funded by Citi Foundation to assess why companies may be motivated to invest in sustainable development. It found four key driving factors:​

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Image Credit: Flickr via Snapper_Q8

Vikas is a staff writer for the Sustainable Development news and editorial section on Justmeans. He is an MBA with 20 years of managerial and entrepreneurial experience and global travel. He is the author of "The Power of Money" (Scholars, 2003), a book that presents a revolutionary monetary economic theory on poverty alleviation in the developing world. Vikas is also the official writer for an international social project for developing nations "Decisions for Life" run in collaboration between the ILO, the University of Amsterdam and the Indian Institute of Management.

Keywords: Innovation & Technology | Cause Global | Global Sustainable Development Goals (SDGs) | Justmeans | Responsible Business & Employee Engagement | best practices

CAMPAIGN: CSR Blogs

CONTENT: Blog

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