Business, government and the SDGs : the role of public-private engagement in building a sustainable future

This book seeks to revise and challenge the roles and traditional realms of influence that national and local governments, and businesses at a critical juncture in terms of achieving sustainable development, faces when tackling the dual challenges of climate change and post-COVID recovery. Using the broader lens of the 2030 UN Sustainable Development Goals (SDGs) to assess the roles and responsibilities of each of these stakeholders and their relationships, the book offers policy, economic arguments, case studies and examples to argue that neither national or local governments, nor companies, could afford to deviate from the SDGs in the recovery from the current crisis, nor that the imperative of bold climate action should detract from the broader focus on sustainability. The analysis frames the debate of how a balance between people, planet, and profits can be achieved and how nations, regions and cities, and businesses, with their representative organizations, can achieve a sustainable recovery from the current global crisis, and contribute to climate smart, resilient and inclusive development. Mahmoud Mohieldin is a Professor of Economics, Cairo University. He serves as the UN Special Envoy on Financing the 2030 Agenda for Sustainable Development and UN 7th High-Level Champion for Climate Action. He was Senior Vice President of the World Bank Group. From 2004 to 2010 he served as Minister of Investment in Egypt. Sameh Wahba is Regional Director for Sustainable Development, Europe and Central Asia region, The World Bank, and former Global Director for Urban, Resilience and Land Global Practice. Maria Alejandra Gonzalez-Perez is Full Professor of Management at Universidad EAFIT, Colombia. She is a member of the global council of Sustainable Development Goal number 1 (SDG 1: End Poverty). Miral Shehata is an independent researcher. She works as an Economic Researcher and Social Development Specialist at the Ministry of Finance, Egypt. Ms Shehata was previously a research assistant at the University of Chicago Contents About the Authors List of Figures List of Tables 1 SDGs and the 2030 Agenda: On Crisis and Opportunity Introduction: COVID-19 and Sustainable Development From the MDGs to the SDGs The Adoption of the SDGs and the Leading Role of National Governments Reaching the Last-Mile and the Role of Local and Regional Governments Environmental, Social, and Governance (ESG) Factors, SDGs, and the Role of the Business Sector The SDGs, Resilience, and the Response to Crises References 2 The Leading Role of National Governments in “Building Forward Better” Introduction Policy Frameworks and Effective Implementation Policy Coherence and Horizontal Integration Policy Coherence and Vertical Integration Attracting the Private Sector Balancing the Short Term and the Long Term Dependable Data Data Collection and Measurement Data Governance Framework Adequate Finance The Varied Capacity for Crisis Response COVID-19 Stimulus Packages and Climate Finance Aligning Public Finance with the SDGs Concluding Remarks References 3 How Businesses Can Accelerate and Scale-Up SDG Implementation by Incorporating ESG into Their Strategies Introduction The Impact of Companies and the Pressure to Internalize Externalities The Business Sector’s Motivation for Increased Adaptation of ESG Indicators Have Corporations Been Successful in a Way Governments Have Not? The Power of Business Alliances The Challenge of Demonstrating Impact: Measuring and Disclosing Businesses’ Social, Environmental, and Economic Impacts SDGs as More Than Climate Action for Businesses The Circular Economy The Private Sector’s Role Reducing Inequalities and Ending All Forms of Poverty Is the World at a Point of No Return? The Business Case for Investing in Sustainable Development Bridging the SDGs and ESG Indicators The Only Social Responsibility of Business Is to Be Sustainable Concluding Remarks References 4 The Role of Local and Regional Governments in the SDGs: The Localization Agenda Introduction What Are LRGs’ Efforts Toward the Achievement of the SDGs? Why Is the Involvement of LRGs Critical for the Achievement of the SDGs? What Are the Main Issues Preventing Local and Regional Governments from Achieving the SDGs? The Impact of COVID-19 on the Achievement of the SDGs and the Responses of LRGs How Can LRGs Play a Meaningful Role Toward the Achievement of the SDGs? What Are the Roles of Local Communities and CSOs in Localizing the SDGs? Concluding Remarks References 5 Never Let a Good Crisis Go to Waste A Turning Point in History Climate Action and Development as Mutually Unexclusive The Importance of Collaboration and Coordination The Necessity of Immediate Collaborative Action in Order to Build Forward Better The Critical Leadership of National Governments for MultiStakeholder Delivery Accountability Systems for the 2030 Agenda Updating the Global Social Contract References Index