UN official urges stronger action for sustainable development goals

The Chief of Outreach & Engagement at the UN Global Compact highlighted a pressing need for stronger collective action from all stakeholders to reach the United Nation’s sustainable development goals by 2030. During a media interaction in Thailand, Sue Allchurch expressed concerns about the sluggish progress towards these goals, despite global recognition of their importance.

Allchurch outlined various obstacles that are hampering the journey towards these goals, including geopolitical instability, economic crises, and the effects of climate change and the ongoing pandemic. She underscored that the business sector is currently grappling with an unprecedented number of global challenges, which are more complex than ever.

Drawing attention to a survey by the UN Global Compact, Allchurch shared that 98% of global corporate executives agree that the UN’s sustainable development goals have refocused their perspective. Furthermore, roughly three out of four CEOs in the Asia-Pacific region claim to have contributed to these goals by incorporating sustainability practices into their core business operations.

However, Allchurch warned that current efforts fall short, as the survey revealed that 85% of global companies are not on the right track to reach these goals. She noted that out of the 91% of companies committed to sustainable development goals, just 39% have set targets aligned with global needs.

Allchurch urged the private sector to set more ambitious targets and enhance public awareness about the barriers to achieving sustainable development goals.

“We are confident that the private sector would gear up to make a significant change. They have agreed that technology is a solution to limit the impacts, and they would invest in it.”

The UN Global Compact’s CEO Sustainable Development Report last year, which included insights from 2,600 CEOs across 128 countries, reflects the top executive perspectives on sustainability in line with the 2030 SDGs agenda.

The report indicated that inflation and price instability are the prime concerns for 98% of CEOs, while climate change is a worry for 93% of the CEOs surveyed, ranking fourth among their concerns, reported Bangkok Post.

The UN Global Compact currently prioritises five key areas of sustainable development: gender equality, climate action, living wages, water resilience, and finance and investment.