UNDP and the Private Sector
“While the private sector can bring both agility in delivery and new approaches to financing the SDGs, the UN has an important role to play in creating an enabling environment for business to contribute.” —Achim Steiner, UNDP Administrator
Private sector is recognized as a key partner to the achievement of the universally adopted Sustainable Development Goals (SDGs). It plays an important role as an engine of economic growth and job creation in developing countries. It provides goods and services, generates tax revenues to finance essential social and economic infrastructure, develops new and innovative solutions that help tackle development challenges and it is a central actor in addressing climate change. As such, the private sector is an important strategic partner for UNDP in achieving its vision to help countries achieve sustainable development by eradicating poverty in all its forms and dimensions, accelerating structural transformations for sustainable development and building resilience to crises and shocks.
UNDP has projects related to private sector development or engagement in most of the about 170 countries and territories where we provide assistance. UNDP works with companies from a variety of sectors, for example, water, energy, extractives, food and agriculture, consumer products, healthcare, finance and information technology.
UNDP’s collaboration with the private sector takes various forms:
- Facilitate discussions between public and private sector and the civil society on a specific development theme or industry sector;
- Find solutions for development challenges through core business activities and initiatives that include low-income groups into value chains as producers, suppliers, employees and consumers;
- Mobilize private sector financial and in-kind resources for sustainable development solutions;
- Leverage innovative financing and partnerships solutions to mobilize private capital for the implementation of the SDGs;
Form broader collective action initiatives involving the private sector on key development issues.