New York – The United Nations Development Programme (UNDP) Administrator Achim Steiner, announced a new partnership with the Government of the Republic of Turkey for an SDG Accelerator to be based in Istanbul, as well as a new initiative at UNDP called “SDG Impact” on 25 September 2018, at a side event entitled during the 73rd session of the Unites Nations General Assembly.
The side event “How the Private Sector Can Align to the SDGs: Emerging Business Models” was organized by the Permanent Mission of the Republic of Turkey to the UN, the Permanent Mission of the Kingdom of Norway to the UN and UNDP Istanbul International Center for Private Sector in Development, and featured a number of high profile speakers such as Mevlüt Çavuşoğlu, Minister of Foreign Affairs Republic of Turkey, Jens Frølich Holte, State Secretary, Ministry of Foreign Affairs of Norway, Tilak Marapana, Minister of Foreign Affairs of the Republic of Sri Lanka, Stefano Manservisi, Director-General of the European Commission's Directorate General for International Cooperation and Development (DEVCO), as well as Sir Ronald Cohen, Chairman of the Global Social Impact Investment Steering Group and The Portland Trust.
“We at UNDP recognize that the SDG funding gap – estimated by UNCTAD at $2.5 trillion per year for developing countries – cannot be closed by development aid alone. It will require engagement with the private sector to help to leverage additional financing. We are seeing a trend that more and more capital is being directed towards impact-related investments, or products or services that benefit society and the environment. In addition to the financial gap to achieve the SDGs, there is also a technical gap” stated Mr.Steinerand emphasized that “these gaps, both financial and technical, present a tremendous opportunity for us”.
The event allowed for very stimulating interventions from the various distinguished panelists, who presented the great potential of sustainable businesses in achieving the 2030 Agenda through financial innovation, technology enabled new business models, responsible and sustainable, employment generating investment decisions.
The popularity of this event demonstrated the shared notion around private sector’s role in achieving the 2030 Agenda.
The webcast of the event is available through the link below: