SDG #9 Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
Industry, infrastructure and innovation are key drivers of economic growth and social value creation. Sustainable industrialization can lift communities out of poverty but needs to be managed carefully to avoid additional pressures on people and planet. In developing countries alone, this requires a $1 trillion gap in annual investment that needs to be addressed. Industrialization and economic development depend essentially on quality and reliable infrastructure. Without it, communities and businesses lack access to markets, quality products, services, and jobs.
Globally, 2.6 billion people cannot access a reliable electricity source and over 4 billion do not have internet access.
As these gaps are filled, industry and infrastructure resources must be resilient to changes in social, economic, and environmental conditions. To achieve inclusive and sustainable industrialization and deliver quality, resilient infrastructure, technological and process innovations must be developed and distributed on a large scale.
As producers, employers, investors, and innovators – businesses are fundamental for achieving Goal 9. Business delivers through research, development and implementation of technologies and processes, as well as financing and production of capital assets and infrastructure. But business also helps to create a potential environment for innovation and investment through engagement with other stakeholders such as Governments on innovation, policy, and access to intellectual property rights and other assets. Business, of course, has an obligation to comply with relevant laws designed to protect people and the environment. However, responsible business goes beyond strict legal compliance with internationally recognized standards of behavior.
Why should business support SDG 9?
Leadership on Goal 9 represents a market opportunity for businesses.
Rebuilding and installation of new infrastructure is a market worth $3.7 trillion annually.
By committing to sustainable industrialization and promoting innovation across company operations, businesses can contribute to development efforts in the regions in which they operate through upgrading local infrastructure, investing in resilient energy and communications technologies, and making these technologies available to all people, including marginalized groups, who might not have access otherwise. Global companies can also promote inclusive infrastructure development by bringing valuable financial services and employment opportunities to smaller and/or minority-owned businesses.
Below I give you some examples of business actions that You and your company can take:
Research, develop, and distribute products, services and business models to deliver sustainable and resilient infrastructure.Example:An investment bank launches a green bond to finance sustainable infrastructure in a developing country and partners with government to select projects based on criteria that include climate resilient design and inclusive service delivery.
Support inclusive and sustainable upgrading of developing country industries in global value chains.Example:A food manufacturing company develops nutrient-fortified grains to deliver nutrients and vitamins to malnourished populations, with production facilities in developing countries and workers including smallholder farmers, over half of whom are women.
Create innovation systems for sustainable development by providing access to finance, fostering entrepreneurship, and pooling financial and research resources in a global knowledge base.Example:A coffee retailer shares ten years of proprietary agronomy research to farmers in developing countries to support climate-smart practices in vulnerable areas and raise farm incomes through sustainable coffee farming.
Upgrade and retrofit infrastructure and industry assets across own and supply chain operations to make them sustainable and resilient.Example:A transport company use sensors in infrastructure to develop analytics for whole life infrastructure efficiency and shares learnings with relevant stakeholders in developing markets.
To learn more about the SDG 9 and what actions you can take, please click here!