Businesses Urged to Use SDGs for Impact Investment

The United Nations Development Programme (UNDP) has urged businesses in the Private Sector to use the Sustainable Development Goals as a framework for impact investment in the country.

Speaking at the 2018 Ghana Impact Dialogue held in Accra under the auspices of the Global Steering Group (GSG), the Acting Resident Representative of UNDP, Gita Welch, said the impact investment is crucial for the achievement of the SDGs as it brings more philanthropic and private money into the development system to drive powerful social change.

“Through the process of allocating resources for products and services, the private sector could make returns to expand the interest in making purposeful, replicable, measurable and impactful investments, which would have powerful consequences for social change within our communities”, she noted.

The Sustainable Development Goals (SDGs), otherwise known as the Global Goals, are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.

These 17 Goals are built on the successes of the Millennium Development Goals, while including new areas such as climate change, economic inequality, innovation, sustainable consumption, peace and justice, among other priorities.

Highlighting UNDPs commitment to work with the private sector, philanthropy and government, Ms. Welch indicated that UNDP has established a SDG Impact Facility at the global level to support businesses to adapt and transform their core strategies to deliver financial, social and environmental performance, and to use SDGs as the basis for engaging in untapped markets.

This she said, would involve the development of SDGs Impact Seal and Certification training programs; business insights; projects that advance the SDGs and matchmaking opportunities between investors and enterprises.

The dialogue witnessed the launch of a report on the State of Impact Investing in Ghana.

Presenting key findings from the report, Ms. Krizstina Tora, Marketing and Development Director of the Global Steering Group, noted that impact investment in Ghana is growing, mainly due to Government interventions to increase the supply of capital in the market.

She, however, indicated that there is still a great deal of opportunities for policy makers to work with investors to further enhance the sector.

The event brought together key stakeholders from Ghana and beyond for a collaborative dialogue on Ghana’s future as an impact economy.

By: Emmanuel Yeboah Britwum