How and why should private companies contribute to SDGs?
Established as a consensus between 193 countries, the Social Development Goals present an unprecedented opportunity and call for a global collaborative effort to solve some of our time’s most critical and pressing needs by 2030.
What are Sustainable Development Goals (SDGs)?
Adopted by the United Nations in 2015, the SDGs represent a global initiative to end poverty, ensure peace and prosperity and protect the planet by 2030.
The SDGs are designed based on decades of research and work and focus on 17 target areas that are integrated to ensure a balance between social, economic, and environmental sustainability.
One hundred ninety-three countries have already joined this global partnership, and the efforts and ambition of this project have already transpired down to multiple public and private organizations and proactive individuals around the globe.
Read the latest Progress Report for 2022.
Why should Private Companies contribute to Sustainable Development Goals (SDGs)?
Aside from the fact that the successful outcome of this initiative rests solely in our hands, whether you are a public, private organization, or an individual, it also directly impacts private companies’ ability to grow.
The SDGs have the total capacity to affect economic growth, innovation, and sustainable operations in the market. At the same time, they offer business advantages such as new market expansion opportunities, talent attraction, and reduced risk from operations.
Investors are increasingly paying more and more attention to environmental, social and governance (ESG) risks when making investment decisions.
As a private company, you should not only see the commercial aspect as you also have the capacity and responsibility to set an example, influence, and contribute to the global impact and success of this initiative.
Read more about the impact of SDGs on the Private Sector in this report by Ernst & Young.
How can Private Companies contribute to SDGs?
In short, there are three potential ways you can contribute to Sustainable Development Goals as a private company:
· Financial Contribution – A private company can finance projects that focus on sustainable development or partially diversify its existing investment portfolio to support various SDG-orientated projects.
· Expertise – A private company can also contribute to SDGs on a non-financial basis by offering its in-house knowledge and expertise as a form of support to various SDG-focused projects.
· Behavior changes: Lastly, private companies can influence positive change by aligning their strategies with sustainable development objectives and upholding an integrated reporting framework.
About uPark
As a private company ourselves, we recognized and embraced this responsibility. Sustainability is at the core of our vision, and the solution we bring to the Cyprus market is capable of addressing the following SDGs:
We see uPark as a project that will benefit our society and pave the way for a more sustainable future for Cyprus. As a collaborative project and initiative, we welcome your expertise and support in making our vision a reality.
Join us and support the Sustainable Development Goals in Cyprus.
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