What is the business case for the Sustainable Development Goals? This was the question that I answered at a recent event at the UN in Geneva to bring business, the UN and civil society together.
As an international community focused on achieving the global goals by 2030 there are also challenges and questions that collectively need to be worked out: 1. We have a gap in incentives from investors, action varies widely from goal to goal, in the most drastic of cases from 78% for Goal 13: Climate Action versus 20% for Goal 10: Reduce Inequality in and among countries. 2. Secondly, will government pick up the slack? Despite private sector involvement the onus is still on governments to OWN the goals and they can also play a role in influencing business through regulation for example. Business is just one part of the eco-system! 3. SMEs. Most businesses in the world are SME’s. How do we engage them with the SDGs? 4. And lastly, I wonder, will companies simply align their current activities or will the goals galvanise business to act and create impact on the back of the SDG’s?
Originally published on The Huffington Post
Nicola Ruane is passionate about sustainable capitalism and finance as a mechanism to change the world for the better. Moving from the trading floor to a role pioneering the CSR programme of a major global bank in EMEA, Nicola is now leading Corporate Sustainability Reporting in financial services within a Big 4 firm. A One Young World Ambassador, UN speaker & yoga student, she blogs and tweets about sustainable business, millennials, women, purpose & finance.