SDG Impact is part of the UNDP Sustainable Finance Hub (SFH), working to accelerate private sector contributions towards the achievement of the Sustainable Development Goals (SDGs) by 2030. Its objective is to help businesses and investors embed sustainability at the core of management decisions and direct capital to where it can make the most difference to people and planet.
We are pushing against the boundaries of our social and natural systems. Inequality, climate change and other sustainable development issues have been exacerbated by COVID-19. According to the OECD, there is an annual SDG financing gap of US$ 3.7 trillion – up from US$2.5 trillion before the pandemic. That is just part of the problem – the other part is knowing how much of it will actually contribute to the SDGs. Indeed, there is increasing pressure from consumers and end-investors for genuine sustainable practices and reduced SDG-washing.
While there is a growing awareness from enterprises and investors that their prospects depend on the health of people and planet, it is not enough. We are not yet on a sustainable path. Many business and investment decisions, whether knowingly or not, are having negative impacts on people and planet that could be avoided or significantly reduced by simply considering all aspects of impacts of their decisions. Making informed decisions is harder without a universal yardstick for sustainable management practices despite the numerous reporting standards and taxonomies available. Businesses and investors are still not able to authenticate their contribution to sustainability and achieving the SDGs which fuels “SDG-washing”. Secondly, private capital is not targeted to where it is needed most – only 20% of global capital is held in developing countries which represent 84% of the world’s population. We need action.
UNDP’s SDG Impact provides innovative solutions to enable the private sector to make decisions that advances the achievement of the SDGs and reduce the risk of SDG-washing. Our SDG Impact Standards, along with the upcoming SDG Impact Assurance Framework and Seal sets the bar for management best practices that embed sustainability at the core of any organization. We also provide training and education to give users the knowledge and skills to implement the SDG Impact Standards. Our goal is to foster a change in mindset in management where sustainability is at the heart of decision-making. The SDG Investor Maps identifies investment themes and business models that help intermediaries build an investment pipeline aligned to national sustainable development needs and priority areas. Further, by leveraging UNDP’s 170 Country Offices, we can connect the public and private sectors across the economic ecosystem, including to explore solutions where there are currently limited opportunities for the private sector to invest.
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