The role of the private sector in global sustainable development

In 2015, all 193 countries signed on to the United Nations Sustainable Development Goals (SDGs) for 2030, setting a broad and bold agenda for reducing poverty, promoting inclusive prosperity, and sustaining the environment.

On April 6, the Global Economy and Development program at Brookings co-hosted a panel discussion along with the United Nations Foundation on the role of the private sector in global sustainable development, with opening remarks from Lord Mark Malloch-Brown. Lord Malloch-Brown chairs the Business and Sustainable Development Commission, which recently released the “Better Business, Better World” report. The report makes the case that, not only do the SDGs need the private sector, but business needs the SDGs too. Specifically, the report argues that sustainable business models could open economic opportunities worth up to $12 trillion and increase employment in the developing world by up to 380 million jobs by 2030.