By Lord Mark Malloch-Brown, Chair, Business & Sustainable Development Commission, former UNDP Administrator and Ex-UN Deputy Secretary-General, and UK Minister of State for Africa, Asia and the United Nations
A critical transition from a heavy reliance on international public development finance to locally generated private sector solutions to development problems is underway. Earlier this year, the Business & Sustainable Development Commission launched its flagship report, Better Business, Better World, which makes the case for why the Sustainable Development Goals (SDGs) offer the private sector a growth strategy that opens new market value and helps solve significant social and environmental challenges at the same time. The Commission shows how sustainable business models could unlock economic opportunities across 60 “hot spots” worth up to USD 12 trillion and increase employment by up to 380 million jobs by 2030. In Africa alone, sustainable business models could open up an economic prize of at least USD 1.1 trillion and create over 85 million new jobs by 2030.