The Role of the Private Sector in Achieving the Sustainable Development Goals (SDGs)

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Center for Strategic & International Studies
Published at : 19 Dec 2020
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In September 2015, the 193-member states of the United Nations adopted the 2030 Development Agenda and the 17 SDGs, built off of the Millennium Development Goals. The SDGs are not an official treaty, but a form of soft law aimed at eliminating extreme poverty, building partnerships, and spurring economic growth around the world. The private sector provides 9 out of 10 jobs in developing countries and has an important role to play in achieving the SDGs and solving global problems. Many private sector actors support the SDGs and have joined the UN Global Compact. At the Addis Ababa Financing for Development conference in 2015, it became clear that it would take trillions not billions of dollars of financing of all types to achieve the SDGs. Private sector participation is critical to strengthening the economies in developing countries, employing the growing youth bulge in Africa, and solving global challenges like migration.
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