Promoting SDG business innovation | PNG Loop

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Presidential Agency for International Cooperation of Colombia (APC Colombia) have formalized this partnership.

The SDGs have increasingly transformed the way the private sector operates to achieve inclusive and sustainable development.

Companies are beginning to realign their priorities with this important development agenda, and innovative business models are emerging – such as social enterprises, inclusive businesses and collective benefit models – in which the goal and end goal target the challenges social and environmental, rather than exclusively profit.

In addition, financial institutions are shifting from for-profit investing to investment decision-making schemes that consider variables in terms of positive social and sustainable impact in the business model. However, this trend needs more support to move from the margins to the mainstream economy.

“To achieve the ambitions of the SDGs, we need businesses that benefit people and the planet as well as profit. Through this partnership, we aim to scale up urgently needed business innovations and create a global movement, to unleash the full potential of the private sector for the SDGs, through South-South cooperation across Asia- Pacific and Latin America,” said Armida Salsiah Alisjahbana, UN Under-Secretary-General and Executive Secretary of ESCAP.

“This partnership will focus on supporting policymakers in the Asia-Pacific and Latin America regions to promote business innovation for the SDGs, through South-South cooperation,” said Viviana Manrique Zuluaga, Managing Director of APC Colombia.

“This will be achieved through next generation research and policy analysis aimed at promoting sustainable practices within the private sector, knowledge sharing, development of a network of decision makers and policy advice. practices to governments.

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