SDG 17’s purpose is to “strengthen the means of implementation and revitalise the global partnership for sustainable developments” *, specifically in the fields of technology, finance, trade, capacity building and systematic issues. In order to achieve sustainability through the 17 SDG’s, one of the most essential determinants will be how everyone comes together. All parties involved have the potential to make a great impact by creating meaningful, long term partnerships between civil individuals, private organisations, governments and the scientific community.
All groups have the proper motivation to collaborate on the 17 SDG’s because it has been clearly demonstrated that the long run costs of climate will far exceed the expenses of acting together in the present. The Covid-19 pandemic has further compounded the importance of global synergy, there is projected to be a 40% decline in foreign direct investment and remittances in 2020**. Therefore, in the coming years it’s of utmost importance that we work together to alleviate the scars of 2020, allowing us to get our focus back on the path towards sustainability.
How businesses can assist with SDG 17:
There are a wide range of ways that businesses can further the development of SDG 17 as a result of it being so broad. By targeting key industries and issues, this can ensure that SDG 17 can maximise its impact towards achieving global sustainability, regardless of wealth, religion and other factors.
Financially, businesses can make an impact by implementing investment promotion establishments for underdeveloped nations as well as providing support for developing nations by improving their tax collection via domestic revenues. Businesses can also create positive change by creating favourable arrangements for other businesses that operate in a sustainable manner.