There is no better time to take action! Systemic change is only possible if collaboration is embedded in impact-oriented projects designed to reach the Sustainable Development Goals (SDGs).
Sharing knowledge through partnerships with the aim of tackling the SDGs can be cost effective while also offering a competitive advantage. Likewise, it can generate value by unlocking new business models, improving customer experience and boosting internal operational capabilities.
Talking about new opportunities,Francesco Starace, Group Chief Executive Officer, Enel highlighted this idea: “The SDGs will help us open up new revenue streams, build supply chain resilience, recruit and retain talent, and gain investor and partner interest”.
In a recent report, GlobeScan highlighted that the United Nations Conference on Trade and Development (UNCTAD) estimates that tackling the SDGs could require investment of between US$5-7 trillion.
Likewise, OECD finds that the total official development assistance in 2016 reached US$142.6 billion. It is now obvious that it “leaves a very large funding gap: a need to move from billions to the trillions and to develop and scale innovative types of partnerships to help unlock more investment in the SDGs” (GlobeScan).
Partnerships across Europe have already started growing significantly, leading to extensive cooperation between national CSR Organisations and corporations and last week at the Brussels SDG Summit we had the pleasure to have 5 national partners showcasing their collaborative projects with companies to address UN SDGs.