UNDP Sweden is helping businesses achieve the Sustainable Development Goals (SDGs).

2023-09-18

The United Nations Development Programme (UNDP) leads the UN's efforts to combat inequalities caused by poverty, inequality, and climate change. In Sweden, UNDP works to strengthen the partnership between Sweden and UNDP, as well as to increase people's knowledge and engagement in the UN's work and the Global Goals for sustainable development. An important part of this effort is to assist and support businesses in Sweden with reports, ideas, knowledge sharing, and case studies. Much of this information can be found on the website www.globalamalen.se.

We spoke with Caroline Åberg, the CEO of UNDP Sweden, about how they work.

What are the biggest challenges for Swedish companies today, according to them?
It's not easy for Swedish companies to navigate the various sustainability tools and how they relate to each other. The business sector has a vital role to play, but it also requires the right conditions from policymakers. Long-term conditions that enable businesses to invest in sustainable development and make it profitable. Clearer directives are needed to make it easier for companies to meet the goals and understand how they connect in all their dimensions. The goals provide us with a common language and help us stay on course in an increasingly fragmented world. We must share ideas, progress, and innovations and harness the available data to accelerate progress toward 2030.

Fortunately, the business case for sustainable development is stronger than ever: transitioning to a green economy can yield a direct economic gain of $26 trillion by 2030 compared to business as usual. Achieving the goals by 2030 would unlock $12 trillion in global business opportunities.

How does UNDP work to support businesses in Sweden in their efforts to achieve the Global Goals?
– At UNDP, we see the need for a clear voice from the business sector. To achieve the Global Goals by 2030, it's crucial to create enabling environments, build capacity, inspire, and facilitate the redirection of private capital toward sustainable investments. Before the COVID-19 pandemic, the funding gap to achieve the Global Goals was $2.5 trillion USD per year. According to the OECD, that figure has now increased by over 50% to at least $4.2 trillion USD. While this is a substantial amount, there are currently $463 trillion in global assets. Therefore, we need to reallocate less than 1% of these assets annually to make Agenda 2030 a reality. That's why UNDP has an ambitious goal to mobilize $1 trillion in public and private investments for the Global Goals by 2025. As part of this effort, UNDP contributes to driving critical reforms that make it easier to start and run businesses in developing countries and connects private investments to national development needs. We also collaborate directly with private companies and investors to integrate the Global Goals into their business strategies and governance documents.

Do you have any specific good examples that you want to highlight that companies have done that others can be inspired by?
– There are many companies worldwide that take significant steps every day to promote sustainable development and integrate the Global Goals into their business strategies. To address many of our societal challenges, we must collaborate and connect the right expertise with existing needs. Here, we see that the business sector and organizations like Norrsken, with their network of young entrepreneurs and investors, play an incredibly important role. When we, together with Norrsken, opened applications for their global accelerator program last year, we received over 2,000 applications. Of the 20 companies ultimately accepted, 9 of them were from African countries. This is a crucial reminder that solutions exist all over the world, and it is our shared responsibility to strengthen and harness that expertise.