It has been more than a year since Pakistan signed on the UN Sustainable Development Goals (SDGs) agenda that empathized interconnectedness of public and private sector efforts to combat poverty and climate change, improve healthcare and education. The agenda set 17 goals that included promotion of inclusive and sustainable industrialization, and fostering innovation as well as ensuring responsible consumption and production patterns, which placed responsibility not only on governments but also the private sector. An ensuing campaign for the achievement of these objectives elicited support from various corporate organisations and relevant international organisations but attracted little, if any, attention from the business sector in this country. It came as a much welcome development therefore when earlier this month, the Pakistan Business Council hosted a roundtable on the SGDs in collaboration with the Association of Chartered Certified Accountants (ACCA), Center of Excellence in Responsible Business (CERB), and UN Conference on Trade and Development (UNCTAD) to deliberate the steps that can be taken by business to contribute to society's collective good.

Speaking at the event, CEO of a UK-based insurance company had it exactly right when he averred "it is enlightened self-interest that determines why business will act sustainably. If business isn't sustainable then society is at risk. And if society isn't sustainable then business is at risk." The challenge, however, is to make all stakeholders conscious of this vital linkage and create pathways to sustainable development. Towards that end, as a report in this paper noted, the roundtable participants shared many valuable ideas: educate shareholders, especially institutional shareholders, who have been instrumental in other countries in bringing about meaningful change; get the government to give incentives, rather than relying on legislation, to persuade the private sector to adopt SGDs; have the SECP dedicate resources to capacity building for SDGs adoption and reporting; set and agree on targets at the national, provincial, city, and industrial sector levels; and agree on both quantitative and qualitative metrics, internally and externally.

In identifying the want list the business leaders have shown they recognize the importance of implementing SGDs, which is appreciable, indeed, since knowing what needs to be done is central to the achievement of any objective. But the seminar must not be forgotten as a mere talk shop. Concerted follow-up actions need to be undertaken to make things work for the realization of SGDs agenda. The government must also get its act together. It badly faltered in implementing most of the previous UN Millennium Development Goals. The new model ought to be incorporated in its policy plans, putting the country on the road to progress and prosperity.

Copyright Business Recorder, 2017