Defning Business’ Contribution to the Socially Oriented Sdgs: Key Trends and Prospects

Introduction. As the Sustainable Development Goals (SDGs) adopted by the UN in 2015 offcially specify the current global challenges, they will positively affect the activity of all social institutions in the near future. This article considers the potential competitive advantages that business will acquire providing its engagement into the implementation of the SDGs. The authors suggest that the private sector’s involvement in the global sustainable development related issues has become one of the essential factors of business long-term competitiveness. The article also reviews the leading multinational companies’ solutions and initiatives aimed at the achievement of the socially oriented SDGs. Based on these business cases, the authors identify the key trends that characterize the private sector’s participation in the fulfllment of the Agenda 2030 for Sustainable Development.

Materials and methods. General and private scientifc methods of cognition (analysis, synthesis, abstraction, generalizations, deduction and induction) form the methodological basis for this study.

Results of the study. In the course of the study, the authors disclose several trends that characterize the private sector’s participation in the implementation of the “Agenda 2030”. Besides the companies’ aspiration to participate in the implementation of the SDGs that directly concern their core business operations, many multinational corporations nowadays actively contribute to the achievement of the socially-oriented SDGs which facilitates the resolution of many macroeconomic problems. In addition, there is an obvious trend of cooperation between the private sector and other stakeholders – primarily, governments and nonproft organisations. They create multi-stakeholder partnerships that allow the participants to pool resources and reinforce the positive effects within the implemented projects.

Discussion and conclusions. Nowadays the SDGs present a particular guidance for the private sector, so the multinational companies have to review their business strategies in accordance with the challenges formulated on the global agenda. This study revealed the substantial competitive advantages that corporate sector would enjoy in case of its engagement in the implementation of the socially-oriented SDGs.

1. Novak K., Zajceva N. Perevorot ustojchivosti. [Rethinking Sustainability]. BRICS Business Magazine. URL: http://bricsmagazine.com.

2. Pan Gi Mun prizval liderov biznesa vzjat’ na vooruzhenie novye Celi ustojchivogo razvitija. [Pan Gi Mun calls for business action in Sustainable development]. OON website. 22.06. 2016. URL: http://www.un.org.

3. Agenda 21. URL: http://www.un.org.

4. Preobrazovanie nashego mira: Povestka dnja v oblasti ustojchivogo razvitija na period do 2030 goda [Transforming our world: the 2030 Agenda for Sustainable Development]. URL: https://documentsddsny.un.org.

5. Abbott Earns Two Honors for Shared Value and Supply Chain Excellence. 3Bl Media. URL: https://3blmedia.com.

6. Abbott Global Sustainability Report 2016. URL: http://dam.abbott.com.

7. Billions have no access to toilets, says World Health Organization report. The Guardian. 1 Jul 2015. URL: https://www.theguardian.com.

8. CEO Guide to Sustainable Development Goals. World Business Council for Sustainable Development. 2017. URL:https://www.wbcsd.org.

9. Clarivate Analytics. Top 100 Global Innovators Report 2017. URL: https://clarivate.com.

10. Coca-Cola Supports Retail Capacity and Economic Development in Brazil. Shared Value Initiative. URL: https://www.sharedvalue.org.

11. Coletivo: Supporting Recycling Cooperatives in Becoming Self-Sustaining Businesses. URL: http://www.cocacolacompany.com.

12. DJSI Annual Review 2017. Industry Group Leaders 2017. URL: http://www.robecosam.com.

13. Global Partnership for Effective Development Cooperation. URL: http://effectivecooperation.org.

14. GRI’s History. URL: https://www.globalreporting.org.

15. How Companies can Improve their Impact on the Sustainable Development Goals (SDGs) and Harness the Power of Digitalization. A Practical Handbook for Managers. Accenture Strategy. URL: https://www.accenture.com.

16. How Have Abbott’s Revenues And Profts Changed In Recent Years? Trefs: Collaborate on Forecasts. URL: https://dashboards.trefs.com.

17. Industry Leader Report 2018. Abbott Laboratories. RobecoSAM’s web site. URL: http://www.robecosam.com.

18. International Finance Corporation. The World Bank Group. URL: https://www.ifc.org.

19. Minute Maid Nurisha: Tackling Malnutrition in the Philippines. Aug 4. 2015. URL: http://www.coca-colacompany.com.

20. More Sustainable Packaging: What We’re Doing and How We’re Doing It. The Coca-Cola Company. Aug 28, 2017. URL: http://www.coca-colacompany.com.

21. Project Last Mile Expands to Strengthen Health Systems in Liberia and Swaziland. Jun 6, 2017. URL: http://www.coca-colacompany.com.

22. Quality Dairy Delivers Shared Value. Abbott’s web site. 13 June 2018. URL: http://www.abbott.com.

23. Sachs J., 2015. The Age of Sustainable Development. Columbia University Press.

24. Schmidheiny S., 1992. Changing Course: A Global Business Perspective on Development and the Environment. тhe MIT Press, April.

25. SDG Compass. URL: http://sdgcompass.org.

26. Technoserve. Strengthening the Peanut Sector. URL: http://www.technoserve.org.

27. The Coca-Cola Company. 2016 Sustainability Report. URL: http://www.coca-colacompany.com.

28. The Sustainable Development Goals: Business, BIAC, and the OECD. URL: http://biac.org.

29. UNICEF. 70 Years for Every Child. Key Messages: Girls’ Progress = Goals Progress. URL: https://www.unicef.org.

30. Unilever’s Sustainable Living Plan continues to fuel growth. Unilever’s web site. 10.05.2018. URL: https://www.unilever.com.