A new report by Force for Good and the United Nations has revised the financing gap for the world to meet the 17 UN Sustainable Development Goals to $100 trillion dollars. This is a significant increase over earlier estimates of $5-$7 trillion a year. Flanked by the latest IPCC 2021 assessment on the accelerating impacts of Climate Change, and the dramatic impact of the Covid-19 pandemic on global health and prosperity recently reported by the UN there is new urgency to mobilize industry in support for the SDGs.
With less than ten years to go to achieve these global goals by the 2030 target date, the need for radical change in funding solutions has never been more critical.
The Trillion Dollar Opportunity for Business
Meeting the 17 UN Sustainable Development Goals will have a transformative positive impact across society in all sectors, from health and human safety to education, global poverty, and world hunger. Addressing the SDGs also presents a broad range of new market opportunities for businesses that can help mitigate risk and drive product innovation, revenue growth, customer acquisition, and improved brand equity. An analysis of the impact of the SDG’s in just four industry sectors estimates a potential $12-$15T in new revenues for companies.
The Current Approach to Funding the SDGs
The revenue potential for business is real, and there is no lack of innovative ideas to address society’s greatest needs. However, governments, businesses, and citizens have largely remained focused on traditional ways of thinking about how to finance the environmental and social change we must achieve.
Public sector commitments and philanthropy will continue to provide an important and significant source of funding for the SDGs, and new approaches like impact investing, green bonds, and other financial mechanisms show promise and are growing in use. But these funding sources are not enough, and no individual pools of capital are large enough on their own to address the $100 trillion gap.
If we add global business transactions, estimated at $96 trillion annually by Yale to the equation, there is a significant opportunity for companies to step in and fill the gap by leveraging their existing spend to drive commerce.
A new source of funding for the SDGs is hidden in plain sight, and there are easy to use solutions for organizations looking to drive revenue growth while also advancing the SDG agenda.
Your Existing Business Transactions Can Make Achieving the SDG’s Possible with Givewith
Givewith makes it easy to embed Social Impact into your company’s existing commercial activities – like buying and selling – so your teams can achieve their goals while accelerating progress on the company’s SDG and Social Impact targets. Our SaaS platform helps sales teams stand out from their competition and win more business, helps procurement teams derive new business value through their purchasing, and allows companies of all sizes to scale their impact faster with existing resources.
How Givewith Helps Your Business Contribute to Meeting the SDG’s
The United Nations is calling companies large and small to support the Sustainable Development Goals. Now is the time to turn public commitments into action. With Givewith, companies can easily select impact opportunities that map to your SDG targets and are relevant to your business, creating an easy path towards identifying your ideal Social Impact partner programs.
The Givewith Social Impact Network is composed of effective nonprofits and social enterprises that provide programs and services across a broad range of issue areas and address all 17 SDGs. Our relationships with our nonprofit partners are built on a vetting process, guaranteeing the causes you care about are within reach.
By embedding Givewith’s social impact programs directly into business deals, and funding programs that have a clear link to specific SDGs, companies can demonstrate direct action to advance the global goals.
What Does it Mean for Your Business to Commit to Sustainable Development?
Investing in the SDGs is not only the right thing to do, it makes business sense. The SDGs provide a unique framework to understand and mitigate business risks, drive product innovation, and identify new market opportunities, In fact, according to ACCP, the financial impact of corporate social and sustainable investing activity has the potential to be significant, including up to 6% increase in share price, a 20% increase in sales, and a 50% decrease in employee turnover. And, in Porter Novelli’s 2021 Purpose Perception study, 71% of respondents would purchase from a purpose-driven company over the alternative.
Givewith is a SaaS solution that allows businesses to differentiate their offering in the proposal/RFP process, gain customer and supplier insights about shared Social Impact areas, and deliver against those priorities in a simple, easy-to-use software. If you’re ready to get started with Givewith for Sales, fill out the form on this page to get in touch with one of our representatives.