In a recent interview on CNBC Africa's 'Closing Bell' while discussing the key role of the private sector in the implementation of the SDGs, Victor-Laniyan reiterated that it is an onerous task that cannot be expected to be borne alone by the public sector.
"Achieving success in implementation requires a lot of financial investment. Research on the estimated cost of eradicating poverty globally pegs it at about
"While the annual investment required improving infrastructure; that's clean water, power, transportation, and agriculture could total to about $7tn. That is a substantial amount, the government alone cannot tackle the SDGs at the national level, businesses and private institutions have a key role to play", Victor-Laniyan said.
With
This development continues to cause a decline in the growth targeted by the
Speaking on whether the private sector can respond differently from the public sector in addressing global crises, and more recently the raging global pandemic, Victor-Laniyan opined that, "the private sector can behave differently. Issues around development offer opportunities for private sector organisations that are innovative.
"Challenges require solutions, and as the private sector, we could provide those solutions. The private sector can proffer these solutions by innovating appropriately across various SDG areas, such as building sustainable cities, climate-smart agriculture, clean energy, improved healthcare and so on.
"All of these require not only the dynamism but also the funding of the private sector working in very close partnership with governments and communities".
Victor-Laniyan said further that, "organisations that use the SDGs as an overarching framework in shaping and communicating their various strategies, goals and activities, obtain the unwritten social license to operate and this ultimately leads to profitability."
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