Global Compact International Yearbook 2014

Agenda
Keynote
being resource-takers to market-builders, where they have a
direct stake in building healthy societies. Businesses have an
incentive to overcome bottlenecks – to train workers, technicians,
and managers; support the health of workforces; support
dependable infrastructure; maintain rather than degrade the
viability of the natural environment; and reduce transaction
costs brought on by corruption, illicit money flows, and other
impediments to trade and investment.
There is now an expanding group of enterprises whose policies
and behavior are directly linked to sustainable development.
Fundamentally, they recognize that what is good for societies
and the planet is also good for business over the long term.
The United Nations Global Compact is among the UN entities
holding consultations on this post-2015 development agenda.
Inputs from more than 40 Global Compact Local Networks
formed the basis of a report to the UN Secretary-General that
included a proto-set of sustainable development goals and
targets. An “architecture” for engaging companies large and
small to advance the post-2015 agenda was unveiled at our
2013 Leaders Summit in New York.
numbers of business organizations to act in concert or in
collaboration on specific challenges such as climate, water,
women’s empowerment, infrastructure, and jobs and education.
4) Finance: The SDGs will require investments of a trillion dollars
or more annually. Private sustainability finance – broadly
understood as private finance that contributes to sustainable
development – is a new concept that is likely to gain much
broader attention throughout the private investment chain,
from investors, banks, and other institutions in the financial
economy, to corporations, foundations, and philanthropy.
A number of notable gains in living standards have been
achieved during the tenure (2001–2015) of the MDGs, in
terms of poverty eradication, health, education, and access
to clean water. The SDGs are likely to call for an even greater
transformation in how the world collaborates on shared
priorities. To ensure their success, we must work together to
make responsible business a transformative force in achieving
a shared, secure, and sustainable future.
What will the post-2015 development agenda and a new set of
SDGs mean for business and the UN Global Compact? While
much is still up for debate with a September 2015 deadline
for agreeing on the SDGs, already several hopeful prospects
are unfolding:
1) Corporate engagement: Many companies have found
ways to innovate and align their corporate responsibility and
sustainability programs with the MDGs. With an earlier start on
the SDGs, the prospects for coordination with global priorities
are much better. The UN Global Compact, the World Business
Council for Sustainable Development, and the Global Reporting
Initiative are already at work on a toolkit for measuring,
monitoring, and reporting on SDG progress – to build trust
with the public and among stakeholders, and to progressively
upgrade corporate performance.
2) Local Networks: The SDGs will likely place even greater
emphasis on national implementation than the MDGs did.
Multi-sector, responsible, business-led councils such as the
Global Compact Local Networks have the potential to apply
post-2015 elements to a country-level analysis of policies
and tactics. As such, they can lend notable assistance to governmental
decision-making. This local implementation of
global goals will also place emphasis on engaging small- and
medium-sized enterprises and upgrading their capacities.
3) Partnerships: Multi-sector collective action or joint business
activities that allow for pooling resources, sharing risks,
and overcoming systemic challenges will rise in importance.
These will include global issue platforms that mobilize large
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Global Compact International Yearbook 2014 5