Corporates need to play greater role in achieving SDGs: Rajiv Kumar

In order to achieve the Sustainable Development Goals (SDGs), Niti Aayog vice-chairman Rajiv Kumar has underlined the need to mobilise funds from all sources especially corporate. He added the focus should be on 'conscious capitalism' wherein corporates go beyond chasing bottomline and focus on ensuring maximum social return.

Kumar noted ‘we want to mobilise all types of financing for funding our development ... we can mobilise resources for priority areas like dealing with problems relating to undernourishment of children, environment and water’. The SDGs, otherwise known as the Global Goals, are a universal call by the United Nations Development Programme (UNDP) for action to end poverty, protect the planet, improve health, education and ensuring that all people enjoy peace and prosperity by 2030. In 2015, India had established 2030 as a critically important horizon for 17 SDGs.

Besides, the Sustainable Development Goals Finance Facility (SFF) was launched on March 14, by Achim Steiner, UN under-secretary general and administrator of the UNDP. Steiner said that India is pivotal to UNDP's shared ambition to achieve the Sustainable Development Goals (SDGs). He noted that innovative finance through structures such as guarantees, social insurance, social impact bonds and impact investments, holds the key to unlocking private investment capital for the SDGs, particularly in a middle-income country like India.