Countries in the MENA region need to think about building a public-private partnership frame-work that supports sustainable development.
It’s been nearly 4 years since the adoption of the 2030 Agenda for Sustainable Development which aims to end poverty in all its forms by setting 17 Sustainable Development Goals (SDGs). These goals aim to remedy social, economic, and environmental concerns, and are all interconnected. In September, all the heads of State will assemble at the UN General Assembly high-level general debate. However, since member states are beginning to understand the importance of engaging all stakeholders, contrary to public perception, these high-level meetings will include stakeholders from civil society, as well as, the private and education sectors.
A Case for Cross Sectoral Collaboration
The 2030 Agenda is an ambitious one that requires an elevated and cohesive partnership, as well as, cross sectoral collaboration. CEOs and business leaders from the private sector have an opportunity to showcase innovative solutions which may include technological advancements while expressing their commitment toward addressing the needs of both the people and the planet.
Earlier this year the Secretary General of the UN announced the creation of the Global Investors for Sustainable Development Alliance. This alliance will consist of 25-30 CEOs of large, global corporations to provide more progressive solutions to propel progress towards sustainable development as well as mobilize investment for more sustainable development outcomes.
This idea is said to be modelled after the Swedish Investors for Sustainable Development. According to the SDG Index, Sweden ranks number 1 in the SDG Global rank according to overall performance. They serve as an example for how 18 Swedish financial participants, including pension fund managers, asset managers, wealth managers, investment and insurance companies work together to invest in the 2030 Agenda for Sustainable Development.
Questions We Need to Consider
Could there be a correlation between Sweden’s high ranking in the SDGs and the collaborative partnership between the public and private sectors? Is sharing the responsibility for progress towards the SDGs part of the solution we need to be striving for?
What can countries in the MENA region learn from this model to support development in that part of the world? Can this kind of partnership be used as a viable solution toward raising the standard of living for its people by reducing the gender gap and unemployment? Can we fight desertification and drought? Can we stop wars, boost economic diversification, and address a host of other concerns?
Written by Dr. Reem Al Saud
Image: UN’s SDG 2030 Publication
Publication date: August 25, 2019
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