The private sector has a key role to play in helping achieve the goals of sustainable development, in particular poverty eradication. And many around the world are part of the "private sector", whether as self-employed, entrepreneurs, farmers, small or medium sized enterprises or large multi-nationals. It is the private sector that generates most of the goods and services that are utilised every day and they must actively be engaged to address the implementation gaps that have limited achievements of the sustainable development goals. A growing number of companies around the world have already put sustainability at the forefront of their agenda, recognising the growing relevance and urgency of global environmental, social and economic challenges. Engagement by the private sector can help ensure that the Rio+20 Conference is a launching ground for wide spread global action in support of sustainability, green growth and poverty eradication.
Regardless of company size or location, corporate leaders understand how sustainability issues affect the bottom-line and, thus, are looking beyond traditional business and financial factors. For example, market disturbances, civil unrest or ecological strains that are happening nearby or far away can have wide-ranging and material impacts through the value chain, capital flows, public opinion or employee productivity.
Companies view sustainability from both a risk management perspective and from the increasingly evident and appealing benefits and opportunities it has offer – particularly those associated with green growth and "base of the pyramid". In short, the business case for sustainability has strengthened as a response to the deep interdependencies in today's globalised world.
The objective of Rio+20 is to secure renewed political commitment for sustainable development, assess the progress to date, as well as the remaining gaps in the implementation of the outcomes of the major summits on sustainable development, and address new and emerging challenges.
