The shift in the perceived role of corporations as solely profit generators to agents for positive change has become clearer than ever before with the new UN Sustainable Development Goals (SDGs). The SDGs focus on the greatest challenges faced by humanity with the aim of ending poverty and hunger, misery and war, unfairness and inequality. Clearly, governments alone cannot achieve this big agenda, nor should they. Businesses have enormous power, resources and knowledge to assist. Corporate responsibility is no longer about doing less harm, or giving money to charity.
The SDGs include 17 global goals (and 169 related targets), replacing the Millennium Development Goals (MDGs). Adopted by the UN on September 25, they seek to encourage government, business and other players to focus simultaneously on the three dimensions of sustainable development: economic prosperity, social inclusion and environmental sustainability. According to the UN, the SDGs clearly define the better and more just world we want – applying to all nations and leaving no one behind.
Business, from micro-enterprises to multinationals, has a vital role to play in achieving each of the SDGs. The UN is very explicit about the expectations placed on the for-profit sector around the world.For business, this means fostering “a dynamic and well-functioning business sector, while protecting labour rights and environmental and health standards”.
Firstly, business can help by ceasing to create problems that governments have to fix. Some businesses create pollution and poverty, violate human and children’s rights and have supported war and conflict, all in the name of shareholder value. If we are to collectively achieve the SDGs, these practices must stop. Moreover, businesses can proactively collaborate with others to achieve each of the SDGs through sustainable business operations, responsible investment and innovation. International trade may be part of the solution, using supply chains as a powerful mechanism to also provide aid and resources to the developing world.
The SDGs do not only present business with duties, they can be seen as great opportunities. Successful implementation of the SDGs will strengthen the environment for doing business and building markets. Even the most responsible companies struggle to thrive in communities marked by instability and conflict, to find skilled labour where adequate education is lacking, or to withstand natural disasters stemming from climate change.
The UN and others are not naive. We all know profit will continue to be the main motive for many companies and some will still need to be monitored. While some call for more radical measures, such as taking out “economic prosperity” as one of the three underlying goals of the SDGs, others understand that working within the existing business environment could achieve a better commitment.
The SDGs present business with unprecedented duties and opportunities to change our world beyond recognition, but this time for the better. They offer a blueprint for what our society should look like 15 years from now. If achieved, the world would be better for all of us — including for businesses.
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