Public-private partnership key to sustainable growth

Updated 2018-04-11 11:17:01

Officials and business leaders at the Boao Forum for Asia on Tuesday called for enhanced efforts from the private sector to partnering with governments to achieve more sustainable development.[Special coverage]

Speaking at a panel discussion during the forum, United Nations Under-Secretary-General Liu Zhenmin said the private sector has a key role to play to jointly promote efforts with governments to achieve the Sustainable Development Goals.

Set by the United Nations in 2016, the SDGs set targets in 17 areas for sustainable development, including specific targets in poverty and inequality reduction by putting the world on a more sustainable economic, social and environmental path by 2030.

"The business sector is able to participate through providing more financial support, as there is a huge financing gap to be filled to achieve the goals," he said.

Although the global poverty rate has been halved since 2000, intensified efforts are needed to lift people out of extreme poverty, according to Liu.

Data from the United Nations showed by the end of 2016, almost 10 percent of the world's workers earn less than .90 per person per day.

Mark Moody Stuart, vice-chairman of the United Nations Global Compact, said the business sector is able to find business opportunities by partnering with governments to pursue the goals, for instance by investing in infrastructural construction.

Such opportunities can be found in China's Belt and Road Initiative, which is expected to play a key role in helping to achieve the 2030 targets, as they both aim to achieve sustainable development, and promote win-win cooperation, regional development and prosperity, according to Stuart.

SK Group Chairman Chey Tae-won emphasized the social value companies should and could create, and said companies should develop innovative business models that can also advance social values, and align their business models to achieve more sustainable growth.

The company has been supporting social enterprises and looks for more ways for commercial corporations to advance social value creation.

Sustainable business models could unlock new market opportunities worth trillion and create up to 380 million jobs by 2030, according to an earlier study by the UN Business and Sustainable Development Commission.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 17 2018 02:57:30

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 17 2018 02:57:30

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 17 2018 02:57:30

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords