October 19, 2021
Introduction
Achieving the SDGs requires the deepening engagement of multinational firms. However, the business sector still lacks clarity and consistency on what SDG alignment looks like for the business sector itself. This panel discussed the important roles Multinational Enterprises (MNEs) can play in pursuing the SDGs and how MNE government collaboration can further enhance this agenda.
Session Highlights
The session which was organised by AIB concurred that although the pandemic has derailed efforts made by governments across the globe in attaining the SDGs; important and innovative collaboration between all stakeholders, especially between government and Multinational Enterprises is needed to get countries back on track to attaining the SDGs globally; more specifically efforts made by various governments globally to achieve the SDGs.
These strong collaborations and dialogue are urgently needed to; identify, discuss and find practical solutions to reverse the devastating effects of the pandemic on the fall in sustainable foreign direct investment (FDIs) and the various challenges affecting the attainment of the SDGs will help countries.
They suggested that MNEs should set up collaborative systems aimed at complementing the government’s efforts to safeguard the decade of action made in achieving the SDGs. To this end, they should collaborate with legislators to take inputs and set up practical, long term and sustainable policies and measures to address all kinds of waste generated in specific countries they operate. MNEs could collaborate with opinion leaders at the grassroots level to also embark on initiatives aimed at raising consumers and the entire community awareness on the ripping effects of waste on the environment, their health and the attainment of the SDGs as a whole.
The panellist also suggested that Multinational Enterprises should identify with one or two specific SDGs, channel all their energy and resources through collaboration with the government, local people and the entire communities to help achieve them. MNEs should make efforts to voluntary or mandatory actions aimed at aligning themselves to achieving the SDGs in the respective countries they operate. Government can provide incentives like tax holidays and award schemes to encourage Multinational Enterprises that align with such initiatives of working to attain the SDGs. This will boost sustainable FDIs which will facilitate sustainable economic growth.
Opening
- Ari Van Assche, Full Professor, HEC Montréal
On the panel were
- Maria Alejandra Gonzalez Perez, Professor, Universidad EAFIT
- Mr Karl Sauvant, Resident Senior Fellow, Columbia Center on Sustainable Investment (CCSI) Mr Bruno Vermoesen, Head of Office Governmental Affairs for Circular Economy, SA BSH Home Appliances
- Dr Yi Wang, Associate Professor, Leeds University
Moderator
- Ari Van Assche, Full Professor, HEC Montréal