Business leaders join UN to rev up sustainable development investments

UN News/Conor Lennon Sustainable Development Goals (SDGs) banners outside the United Nations Headquarters in New York. 20 September 2019.

This article is brought to you in association with the United Nations.


In a bid to scale up investment efforts to reach sustainable development targets, the Secretary-General on Wednesday convened the first meeting of a new UN-backed corporate alliance to discuss plans for spending on sustainability, likely to be in the trillions of dollars.

The Global Investors for Sustainable Development Alliance (GISD), a UN-supported coalition of 30 business leaders, works to provide decisive leadership in mobilizing resources for sustainable development, with the core objective being to identify incentives for long-term sustainable investments.

“We face widening inequality, increased devastation from conflicts and disasters and a rapidly warming Earth. These leaders have seized our sense of urgency, recognizing that our pace must be at a run, not a crawl”, António Guterres told business leaders. “They are committing to cooperate across borders, across financial sectors and even with their competitors, because it is both ethical and good business sense to invest in sustainable development for all people on a healthy planet.”

The Alliance will operate on a two-year timeline, from October 2019 through October 2021, focusing on solutions related to long-term SDG investment, identifying such investment opportunities for developing countries, and enhancing the impact of private funding in development efforts.

Development needs are estimated at trillions of dollars per year, and even if funding from all public sources is maximized, there will still be significant shortfalls. The mobilization of the private sector “will be critical to the implementation of the SDGs”, the UN’s Department of Economic and Social Affairs (DESA) has said.

Formation of the alliance comes amidst growing recognition in the corporate community that the success of companies is “inextricably linked” to a sustainable future for the world.

“The Alliance has come together to help drive financing for the 2030 Agenda as we enter a crucial decade of action to deliver the Sustainable Development Goals (SDGs)” Deputy Secretary-General Amina Mohammed said “and, in particular, to help forge concrete solutions for securing the long-term finance and investment necessary to achieve the SDGs.”

Spotlighting the range of “crucial agreements” to tackle issues of poverty, inequality, and the climate crisis, Ms. Mohammed credited the progress made through the Addis Ababa Action Agenda, the UN’s 2030 Agenda, and the 2015 Paris Climate accord.

“This is a very important day. But it is only the beginning. Over the next two years the GISD will help drive the Decade of Action toward success and report back to the Secretary-General on a regular basis”, she added.

A few of the actionable solutions the alliance is expected to advance, include encouraging innovation in financial instruments, revisiting existing and new business models aligned with the 2030 Agenda, and addressing industry obstacles to long-term investment in sustainable development.

As for UN support, GISD members are backed by a number of actors within the organization’s system, and other partners who will assist the alliance in implementing the coalition’s plan of action.  View the full list of supporters here. 

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

UN ‘prioritizing needs’, ramping up aid, as Hurricane Dorian continues to batter the Bahamas

Tsipras imposes more austerity on insolvent Greece; plans to win new early election soon

Drug laws must be amended to ‘combat racial discrimination’, UN experts say

This cheap, 700-year old solution could change billions of lives

EU, Brazil to hold high level Summit in Brasilia

Intel @ European Business Summit 2014: Better decisions now, the new business dashboard 

Burkina Faso: Dozens killed in clashes, UN chief condemns attacks

How cultural understanding can help in the cultural shock

Chart of the day: These countries have the highest share of electric vehicles

Act now to end violence, Zeid urges Nicaraguan authorities

The undead banks

Estonian Prime Minister Ratas: Europe is a thought that must become a feeling

Central American migrants must be protected, urge UN experts

Hollande protects the euro from the attacks of extremists

Do the giant banks ‘tell’ Britain to choose a good soft Brexit and ‘remain’ or else…?

UN cooperation with League of Arab States ‘pivotal’, UN chief tells Security Council

“At the Environment Assembly citizens expect clean, not hot air”, the Head of UN Environment in Europe underscores in a Sting Exclusive

OECD economic scenarios to 2060 illustrate the long-run benefits of structural reforms

Climate change is a security threat. We must act now

Israel is joining forces with Arab states to save coral from climate change destruction

How technology can help India breathe more easily

Climate change and health: creating global awareness and using earth resources wisely

These countries are pioneering hydrogen power

Syria: A bloody tracer of Trump – Putin rapprochement

How ‘small’ is Europe in Big Data?

“The Arctic climate matters: to what degree?”, a Sting Exclusive co-authored by UN Environment’s Jan Dusik and Slava Fetisov

EU Parliament: It takes real banks to fight unemployment and recession

Aid funding for Occupied Palestinian Territories at ‘all-time low’

At UN, Middle East countries discuss steps towards regional nuclear-free zone

‘The green economy is the future,’ UN chief says in Beijing, urging climate solutions that strengthen economies, protect the environment

Building an Inclusive ICT Innovation Ecosystem

UN must provide redress for minorities placed in toxic Kosovo camps, says rights expert

This South Korean company has built a 5G search and rescue airship

Trump badly cornered at home by agribusiness and steel consumer lobbies: Trade

Whose interests are protected by the new Mortgage Directive?

Why Indian students are going abroad to become Doctors?

MEPs to debate priorities for 28-29 June EU summit

The world is getting angrier, according to a new poll

International Literacy Day: What you need to know about youth literacy

Intensified Al Qaeda and ISIL activity in Yemen ‘deeply worrying’, says UN Human Rights Office

Banks suffocate the real economy by denying loans

The JADE Spring Meeting is about to begin

Record-high number of civilian casualties in Afghanistan: UN Report

Chauvinism and xenophobia will lead to global assertiveness and more wars

Cities will lead the electric transport revolution. Here’s why

The miserables and the untouchables of the economic crisis

The G7 fails to agree on growth but protects the big banks

UN chief urges ‘maximum restraint’ following policy shift over northeastern Syria

‘Emulate his example’ urges UN chief as world celebrates Nelson Mandela: a ‘global advocate for dignity and equality’

ECB’s Draghi favours a cheaper euro to serve all Eurozone countries

African migration: what the numbers really tell us

Children in crisis-torn eastern Ukraine ‘too terrified to learn’ amid spike in attacks on schools

Half of all mental illness begins by the age of 14

UN Security Council urged to act against ‘worst-case scenario’ Syria’s war-battered Idlib

What will Germany look like after the next election?

China is adding a London-sized electric bus fleet every five weeks

How start-ups will lead India through the Fourth Industrial Revolution

Entrepreneurship’s key to success showcased by a serial young entrepreneur

International Women’s Day: Where does she belong?

‘Ground-breaking innovation’ needed in cities, where battle for sustainable development will be won or lost, says UN agency chief

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s