Business for Peace organized “the Business for Peace Summit” in Oslo, Norway on May 15, 2019 to call for all global capital flows to advance the Sustainable Development Goals 2030 Agenda and to mark the Nordic Springboard of the United Nations’ SDG Impact initiative, which was a part of the summit.
Based in Oslo, Business for Peace is an international foundation supporting local business leaders to achieve their purpose on improving society. It held the Business for Peace Summit once every year and this year, the summit brought together business leaders, investors, leaders of NGOs, politicians, academics, and civil society from all over the world to discuss the practical actions needed in order to make substantial and sustainable business contributions to society.
The topic of the summit this year was “Navigating in a World of Imbalance”, with the SDG Impact Springboard event as a cornerstone that gathered Nordic investor support and build momentum to an upcoming global event in Stockholm.
According to Business for Peace’s announcement, achieving the Sustainable Development Goals (SDGs) by 2030 is expected to require $5-7 trillion in total annual investment and requires a fundamental rethinking of global financial flows. Up until now there has not been a standardized or consistent approach to defining and measuring impact.
Led by United Nations, SDG Impact initiative has been designed to enable private sector investment by providing investors and businesses with the clarity, insights, and tools required to support and authenticate their contribution toward achieving the SDGs.
SDG Impact aims to catalyze up to $1 trillion annually in private sector investment to achieve the SGDs. These efforts would contribute towards helping create some $12 trillion per year in economic opportunities and 380 million new jobs, which the Business Commission on Sustainable Development estimates would be possible from investing in the SDGs.
Among the attendees were Achim Steiner, Administrator of the United Nations Development Programme, CEO and Managing Partner Christian Sinding of EQT, and Chair Anna Ryott and CEO Reynir Indahl of Summa Equity, CEO Sverre Thornes of KLP, CEO Jan Erik Saugestad of Storebrand Asset Management, Director of Norfund Ylva Lindberg as well as representatives from top Nordic investment firms.
Speaking at the summit, Steiner pointed out the advantages SDGs can bring to the world.
“We all know that achieving the SDGs will create a world that is more sustainable, equitable and ultimately more prosperous. In order to get there, investors must adapt and transform thier strategies to deliver not only financial results, but social and environmental ones as well,” he suggested.
In addition, CEO Christian Sinding of EQT and Chair Anna Ryott of Summa Equity shared their experiences in business and investment area and also the reason making them interested in supporting the SDGs initiative.
“Sustainability is, and has always been, a central part of EQT. Through our involvement in this new SDG Impact initiative, EQT will be able to influence the way that SDG-alignment is measured and develop our own impact approach further. For EQT, the initiative is particularly exciting, as we are taking a stronger position on climate change and thematic investing in solutions with positive societal impact,” said Christian Sinding.
“Summa Equity was amongst the first Private Equity firms to commit to the SDGs, aligning our investment and value creation strategy with the SDG framework. We are proud to be part of the SDG Impact initiative and challenge the whole private equity community to invest in the SDGs. It helps companies show stronger growth and returns, while having lower risk,” said Anna Ryott.