THE CONTRIBUTION OF BUSINESS IN THE IMPLEMENTATION OF SUSTAINABLE DEVELOPMENT GOALS (SDGs)-CHALLENGES AND OPPORTUNITIES

Abstract

Business plays a key role in fulfilling the promises of sustainable development in many ways. Companies can integrate sustainability in their business and generate significant changes in recognizing their impact on the environment.The Sustainable Development Goals (SDGs) are a wide range of 17 integrated goals for the environment, society and economy adopted by the UN in 2015. Their fulfilment is a universal call for action to end poverty, protect the planet and ensure that all people will enjoy prosperity by 2030.Business have to understand the importance of SDGs and their connection with business goals. SDGs hold great possibilities, challenges and opportunities for businesses. Business should manage the environment burdened with huge global problems as uncertain energy costs, looming regulation on carbon emissions, access to raw materials, availability of natural resources etc.In this paper, at the beginning we are discussing latest overview of the world's SDGs implementation efforts. We continue with discussion how businesses can engage with SDGs framework to drive business growth and productivity while contributing to the better world envisioned in 2030 Agenda. In the conclusion, we synthesize findings and suggest recommendations to align business strategies with the SDGs.