Adoption of the Sustainable Development Goals (SDGs) and the Paris Agreement were, in addition to a call on governments, a message from and for the business and the capital world. And the message is clear: businesses and capital must aim to create a positive impact on all the assets of the world. They must contribute to developing an economy that is here for the world, and leave behind the exploitation of a world serving the economy.
While business has contributed to the mass destruction of our resources, it also holds the key to the solutions. Therefore, the call to business is necessary as corporations are in fact some of the largest economies in the world, transcending borders with far-reaching influence. Responsible business models are good for the world and they can open many opportunities as well. There is simply no reason not to incorporate the SDGs in business and capital strategies, innovations, products, and services throughout the supply chains.
The UN has specifically urged the financial industry to play a larger role in impact investing with the goal of aiding the SDGs. This too is a necessary call to action as capital plays a pivotal role in driving the world towards achieving the Goals. And a significant shift in investment strategy is needed. The financial sector has created a chasm between the economic and real value of money. For years, maximising the return on investment has been the name of the game, triggering an adrenaline rush that has surged through the entire financial sector. This phenomenon, however, is not solely responsible for the economic crises that ensued; the failing economic system as a whole is to blame.
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