Trillions in economic opportunities await sustainable businesses in the next decade, a new report by a leading business coalition said.
The Business & Sustainable Development Commission’s new report “Better Business, Better World” has revealed that sustainable business models can add 380 million jobs by 2030 and provide economic opportunities amounting to US$12 trillion, or more than 10 percent of the world’s gross domestic product (GDP). The report has listed 60 sustainable and inclusive market ‘hotspots’ in four key economic areas. These areas include energy at US$4.3 trillion; cities at US$3.7 trillion; food and agriculture at US$2.3 trillion; and health and wellbeing at US$1.8 trillion.
The report said the hotspots have the potential to grow two to three times faster than the average GDP in the next 10 to 15 years. It has estimated that an additional US$8 trillion will be created if companies embed the Sustainable Development Goals (SDGs) in their business strategies.
“But every day that passes is another lost opportunity for action,” Paul Polman, CEO of Unilever, and a member of the commission said in a statement. “We must react quickly, decisively and collectively to ensure a fairer and more prosperous world for all.”
The Business & Sustainable Development Commission is a coalition of more than 35 CEOs and civil society leaders promoting the achievement of the SDGs.