Why are the MDGs important to business?

While the MDGs are commitments made by governments to the United Nations, the interest in achieving them is shared by greater society. The business community has been very supportive of the MDG initiative because achieving these targets makes enormous business opportunities. A prosperous, healthy and sustainable community forms the foundation of a thriving business sector. Poverty, environmental degradation or illiteracy weakens the base on which a company stands. Business must manage the costs and risks of doing business.

There are three broad reasons why it makes sound business sense to contribute towards the achievement of the Millennium Development Goals. Each one is a crucial pillar for building successful and competitive private enterprises:

In April 2002, the Prince of Wales International Business Leaders Forum (IBLF) gathered business leaders, development organizations and governments in the United Kingdom to discuss the strategic role of business in achieving the MDGs. In developing countries and transition economies such as the Philippines, the business sector is expected to strengthen the capacity of governments to accomplish the huge challenge of the MDGs. The summit consequently agreed to take action at the country level.

To gather support from the Philippine business sector to achieve the country’s MDG targets, the PBSP - Center for Corporate Citizenship (PBSP-CCC) led the development of The Philippine Business Response to the Millenium Development Challenge in coordination with the National Economic and Development Authority (NEDA), United Nation Development Program (UNDP) and the Office of the UN Resident Coordinator (UNRC) .