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The role of private sector in the implementation of sustainable development goals

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  • Abdulkarim Hasan Rashed

    (University of Bahrain
    The Supreme Council for Environment)

  • Afzal Shah

    (University of Bahrain
    Quaid-i-Azam University)

Abstract

On September 25, 2015, the Sustainable Development Agenda of 2030 was agreed and adopted by the United Nation. This agenda consists of 17 sustainable development goals (SDGs) and 169 targets. It expressed a global call for taking urgent actions to save the planet. In this regard, the private sector is one of the key stakeholders that could shoulder a fundamental responsibility for accelerating the SDGs implementation process. The current article reviews important aspects of the role of the private sector toward SDGs achievement. The corporate social responsibility, circular economy, and the environmental initiatives are required to support the implementation of SDGs. However, for achieving SDGs the private sector faces a number of challenges such as lack of influential leadership, harmonious partnerships, shortage of investments, exhaustiveness and complexity of interlinkages among the goals and their targets, and lack of monitoring and evaluating methods for assessing the progress of implementation. Moreover, there is a dire need for a reliable set of measurable indicators to support the private sector in measuring the implementation progress. This review article highlights the role of private sector in beating the challenges confronting the achievement of SDGs.

Suggested Citation

  • Abdulkarim Hasan Rashed & Afzal Shah, 2021. "The role of private sector in the implementation of sustainable development goals," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(3), pages 2931-2948, March.
    • Handle: RePEc:spr:endesu:v:23:y:2021:i:3:d:10.1007_s10668-020-00718-w
    DOI: 10.1007/s10668-020-00718-w
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