Private Sector Engagement For Sustainable Development

Members of the OECD Development Assistance Committee (DAC) are increasingly working with the private sector in development co-operation to realise sustainable development outcomes. To learn from this experience, the DAC introduced a peer learning review on working with and through the private ...

Drawing on the practical experiences of DAC members, the report highlights good practice, provides a typology of private sector engagement and outlines key lessons. It highlights the importance of aligning private sector engagements to overall development co-operation strategies and aid effectiveness principles.

This book seeks to revise and challenge the roles and traditional realms of influence that national and local governments, and businesses at a critical juncture in terms of achieving sustainable development, faces when tackling the dual challenges of climate change and post-COVID recovery. Using the broader lens of the 2030 UN Sustainable Development Goals (SDGs) to assess the roles and responsibilities of each of these stakeholders and their relationships, the book offers policy, economic arguments, case studies and examples to argue that neither national or local governments, nor companies, could afford to deviate from the SDGs in the recovery from the current crisis, nor that the imperative of bold climate action should detract from the broader focus on sustainability. The analysis frames the debate of how a balance between people, planet, and profits can be achieved and how nations, regions and cities, and businesses, with their representative organizations, can achieve a sustainable recovery from the current global crisis, and contribute to climate smart, resilient and inclusive development.

The proactive engagement of the private sector was critical to accelerate the achievement of the Millennium Development Goals (MDGs). Inevitably, private finance will become even more central in the concerted effort to achieve the Sustainable Development Goals (SDGs) due to their ambition. Private investment decisions in both the real economy and in the financial sector should move the world towards the aspirations set out in the 2030 agenda. This means going far beyond philanthropy and voluntary corporate social responsibility, important though they are. It is a matter of steering the investment decisions that private actors make every day. In the context of the Financing for Development debate, this discussion paper reflects on the latest trends and makes recommendations to: 1. Establish an enabling regulatory environment for the private sector to invest in the SDGs; 2. Introduce “Smart” public incentives to fasten the realignment of private finance to the SDGs; and 3. Foster change in company and consumer behaviours to transition to inclusive and sustainable markets.

In September 2015, the Sustainable Development Goals (SDGs) were adopted at the United Nations Development Summit to serve as a 15-year plan of action for all countries and people. The SDGs include 17 specific goals, and 169 associated targets that set out quantitative objectives across the social, economic, and environmental dimensions of sustainable development, all to be achieved by 2030. Health has been recognized as crucial for sustainable human development and an essential contributor to the economic growth of society. Beyond the goal to "ensure healthy lives and promoting well-being for all at all ages," many of the other SDGs include targets that are essential to address the environmental and social determinants of health. Considering this context, the Forum on Publicâ€"Private Partnerships for Global Health and Safety convened a workshop series to examine potential opportunities to engage the private sector and develop partnerships to advance health and the SDGs. This publication summarizes the presentations and discussions from the workshop series.

The global development community has articulated many collective aspirations in the Sustainable Development Goals (SDGs) aimed at transforming the world. Given the complicated issues that accompany globalization, State and non-State actors continue to explore the utility of public–private cooperation mechanisms. Public– private cooperation initiatives strive for global governance mechanisms involving oversight by all of the actors and operating frameworks that include multiple states, intergovernmental organizations, NGOs, private sector companies and prominent individuals.

UNDP’s Private Sector and Foundations Strategy for the Sustainable Development Goals 2016–2020 defines how UNDP plans to engage with – and work on – sustainable development issues with the private sector and philanthropic foundations. The goal is to enable these actors to become transformative partners in implementing all Sustainable Development Goals (SDGs) in order to achieve UNDP’s vision of poverty eradication and a reduction in inequalities. The strategy aims to position UNDP as a partner of choice for the private sector and foundations in SDG implementation, while maximizing the impact of the private sector and philanthropy on sustainable development. The target audience for this strategy includes our partners in the private sector and philanthropy as well as UNDP Headquarters units, regional bureaux, regional hubs and country offices that work with the private sector and foundations on development issues. It explains UNDP’s programmatic approach in working directly with the private sector and foundations as well as with other partners involved in development. By engaging the private sector and foundations through this strategy, UNDP can support governments to establish an enabling environment for aligning these stakeholders’ core operations with the SDGs. This strategy is complementary to UNDP’s Green Commodities and Trade Guidance Note, UNDP Guidance Note on Jobs and Livelihoods, UNDP’s Strategy for Supporting Sustainable and Equitable Management of the Extractive Sector for Human Development, International Financial Institutions Partnership Strategy 2016-2020, the Recovery Strategy, UNDP support to the implementation of the 2030 Agenda for Sustainable Development Policy and Programme brief and the Mainstreaming, Acceleration, Policy Support Approach (MAPS) enabling responsive, coherent and inclusive support to the implementation of the 2030 Agenda for Sustainable Development.

This book explores the business and investment implications of sustainability, both opportunities and challenges. The volume lays the groundwork for understanding the growing areas of sustainable business and sustainable finance. Over the past few decades, the world has witnessed significant improvements in economic development that meet a wide range of human needs. Ensuring that such development takes place in a 'sustainable' way is the central focus of the book. The book provides insights for businesses, investors, and others on how to navigate this complex and evolving landscape.The United Nations and global leaders in business and investment have emphasized the important role that the private sector can play in protecting the environment and promoting a more sustainable use of resources.'What is needed now is a new era of economic growth — growth that is at the same time socially and environmentally sustainable. This call for action in the Forward to the 1987 Bruntland Report (Our Common Future), which emphasizes that economic growth is part of the solution not the problem, still rings true nearly 40 years later.Gro Harlem BrundtlandReport of the World Commission on Environment and Development, United Nations 1987'Private sector leadership is vital to advance sustainable development and fight the existential threats of climate change, biodiversity loss and pollution.'António GuterresUnited Nations Secretary-GeneralMessage to International Chamber of Commerce's 13th World Chambers CongressUnited Nations Press Release on the Environment, June 21, 2023 (SG/SM/21851)Like Henry Ford's strategy over 100 years ago at the time of the mass introduction of the Model T Ford, Elon Musk had a similar strategy for switching from fossil fuels to renewable energy powered cars. '[Initially enter] the high end of the market, where customers are prepared to pay a premium, and then drive down [the] market as fast as possible to higher unit volume and lower prices with each successive model.'Elon MuskCEO Tesla Inc, Interview with Solar Tribune, Feb 16, 2020'Investing for the long term requires taking a long-term view of what will impact returns, including demographics, government policy, technological advancements, and the transition to a low carbon economy.'Laurence D FinkBlackrock Chairman and Chief Executive Officer, Larry Fink's Annual Chairman's Letter to Investors,Blackrock, 2023'Capital markets are an extraordinarily powerful tool in the fight against climate change. Government action is certainly critical. But ultimately, reducing emissions globally depends on the private sector recognizing the commercial opportunities that sustainability presents.'Michael R BloombergFounder of Bloomberg LP and Bloomberg PhilanthropiesDavid M SolomonCEO of Goldman SachsMobilize the Market to Fight Global WarmingBloomberg, Opinion Article, April 27, 2021