Partnerships for Sustainable Development: Collective Action by Business, Governments and Civil Society to Achieve Scale and Transform Markets

Abstract

Leadership by individual companies is necessary but not sufficient to drive transformational and systemic change toward sustainable development. Collective action and collaboration will be essential. It will be needed among companies themselves, on a precompetitive basis in specific industry sectors, issues and locations. It will also be needed on a cross-sector or multi-stakeholder basis between companies, governments and civil society organizations. There will be business benefits for the companies that understand this agenda and align their core business activities to addressing the economic, social and environmental risks and opportunities material to their business and salient in terms of their potential impacts on people. Despite these likely business benefits, the ability of companies to spread responsible practices and deliver market-based solutions for the SDGs at scale is undermined by a variety of market failures, governance gaps, and cultural and trust impediments.