The aims of the United Nations’ Sustainable Development Goals (SDGs) are ambitious: to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. Taken together, they provide a wide-ranging framework to help us tackle the most pressing social and environmental challenges of our time.

Achieving these goals will be difficult and expensive. The UN itself estimates that the total cost could be about $11.5 trillion, including $1.4 trillion a year just to achieve SDG 1 (ending poverty for 700 million people).

For business, there is a clear imperative to play a part in this effort; not least because today’s consumers, employees and investors increasingly expect it. It is no longer possible for companies to ignore their broader social and environmental impact – as many have found to their cost. A good illustration of this changing climate was the letter sent recently by BlackRock’s Larry Fink to CEOs of businesses within the giant asset manager’s global portfolio, in which he stressed the importance of corporates focusing on their social purpose as part of their long-term growth strategy.

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