Global business leaders to promote $12tr economic development target

The Lagos Deep Offshore Logistics base (LADOL), has joined world business promoters in developing a sustainable business outlook that is expected to unlock over $12 trillion in new market value within the next decade.

At a crucial confab in London, the United Kingdom (U.K.) at the weekend, the group under the aegis of Business and Sustainable Development Commission (BSDC), expressed optimism that sustainable business models could open economic opportunities of such high value while at the same time creating over 380 million jobs annually by 2030.

The United Nations targets at transforming the world by the 2030, under a 17 aspirational “Global Goals” Agenda for Sustainable Development targeted mostly at the most vulnerable and least developed economies.

BSDC is hoping to boost this global development agenda through massive jobs creation that will lift the poverty levels in the less developed countries.

The BSDC, which was launched in Davos, Switzerland, in January 2016, has the Managing Director of LADOL, Dr. Amy Jadesimi, as a member from Nigeria, alongside other 36 leaders drawn from business, finance, civil society, labour, and international organisations across the world.

The Commission is saddled with the twin objectives of mapping the economic prize that could be available to businesses if the United Nations (UN) Sustainable Development Goals were achieved, as well as highlighting how businesses can contribute to delivering such goals.

In a report released by the Commission, the body described the next decade as critical for companies to open 60 key market “hot spots,” tackle social, environmental challenges, and re-build trust with the society at large.

It further pointed out that putting Sustainable Development Goals, also called, Global Goals, at the heart of the world’s economic strategy could “unleash a step-change in growth and productivity, with an investment boom in sustainable infrastructure as a critical driver.”

It however noted that, “this will not happen without radical change in the business and investment community. Real leadership is needed for the private sector to become a trusted partner in working with government and civil society to fix the economy”.

Commenting on the Commission’s goals, Jadesimi, a member of the global body urged members to demonstrate commitment to its ideals beyond making it a mere paper work.

“We need to show these ideas work not just in a report but on the business frontline,” she added.