26 September 2015: The Private Sector Forum resulted in more than 35 corporate commitments to contribute to the 2030 Agenda for Sustainable Development and the Sustainable Development Goals (SDGs), including through investments in low-carbon infrastructure and solutions to make clean energy affordable and accessible. Also at the Forum, the Global Reporting Initiative (GRI), the UN Global Compact and the World Business Council for Sustainable Development (WBCSD) launched ‘the SDG compass,’ a tool for helping companies to maximize their contributions to the Global Goals.

The Forum, which convened on the sidelines of the UN Sustainable Development Summit, focused on how business can contribute to implementing the SDGs. With approximately 350 participants in attendance, it addressed, inter alia, the private sector’s role in contributing to the SDGs, focusing on how business contributions to governance issues, such as anti-corruption, peace and stability, and the rule of law, can help advance the SDG agenda; and providing a platform for business, investors and others to explore pathways for enhancing business contributions to sustainable development, including through public-private partnerships.

The SDGs create “huge opportunities for responsible companies to deliver solutions,” UN Secretary-General Ban Ki-moon told participants. While underscoring that “governments must take the lead in living up to their pledges,” Ban emphasized that he is “counting on the private sector to drive success.” He said achieving the SDGs “will improve the environment for doing business and building markets.”

The SDGs cannot be achieved without business, stressed UN Development Programme (UNDP) Administrator Helen Clark, who said there are “countless opportunities for business to contribute to the implementation of the SDGs.” She highlighted the palm oil sector as a positive example, describing its commitment to use deforestation-free supply chains and contribute to biodiversity, climate change mitigation and sustainability.

Access to technology is critical for lifting people out of poverty, creating employment and improving access to affordable learning tools, Facebook CEO Mark Zuckerberg noted in a keynote address. He announced Facebook’s commitment to make universal internet access a reality. Other participants who highlighted the role of technology in achieving the Goals included Ericsson CEO Hans Vestberg, who discussed the role of information and communications technology (ICT), and Safaricom Ltd, which highlighted its initiative to deepen financial inclusion and bridge the digital divide in Kenya.

Peter Bakker, President, WBCSD, speaking on the SDG compass, explained how the tool aims to support businesses to align their strategies with the SDGs, to contribute to the SDGs and to be transparent about their progress. The compass outlines five steps for companies: understanding the SDGs; defining priorities; setting goals; integrating the goals; and reporting and communicating on them.

Other commitments announced at the Forum include: a commitment to improve access to healthcare for 20 million underserved people in Least Developed Countries (LDCs) by GlaxoSmithKline; a commitment by LEGO Group to implement the Children’s Rights and Business Principles; a project to support the human right to water and sanitation in Brazil by Braskem; and numerous commitments to reduce carbon dioxide emissions and promote renewable energy and energy access, among others. [UN Press Release] [UN Global Compact Press Release] [UNICEF Press Release] [UN Secretary-General Statement] [UNDP Administrator Statement] [Forum Commitments] [Event Website] [IISD RS Coverage of UN Summit] [SDG Compass]