3rd edition of Global Sustainable Development Summit 2023

We are delighted to bring you the latest updates and insights on the upcoming 3rd Global Sustainable Development Summit 2023. The summit, scheduled for 26th-28th Oct'2023 5.30PM IST Onward, promises to be a pivotal event in the realm of sustainable development.

A Sustainable Vision

"Sustainable development is a guiding principle for achieving human development goals while preserving natural systems’ capacity to provide the natural resources and ecosystem services that the economy and society rely on."

These words encapsulate the core philosophy of the summit. In an era of rapid industrialization and environmental concerns, the pursuit of sustainable development is not just an option but a necessity. It is a vision that seeks to balance the well-being of humanity with the preservation of our planet's resources.

Empowering MSMEs for a Sustainable Future

While micro, small, and medium-sized businesses (MSMEs) may appear small in comparison to large corporations, they have a significant impact on employment, economic growth, and sustainability. In general, SMEs outnumber large corporations while contributing significantly to global economic growth and job creation, particularly in developing countries.

According to World Bank data, SMEs account for approximately 90% of businesses and 50% of global Gross Domestic Product. Additional calculations by the World Bank indicate that SMEs have the potential to generate the 600 million jobs required to absorb the global workforce by 2030.

Transforming for the SDGs

The Sustainable Development Goals (SDGs) have set ambitious targets that necessitate a transformation in both public and private sector activities. This transformation involves new business models, innovative technologies, and more sustainable and ethical business practices. It opens up new opportunities for the private sector, with MSMEs poised to benefit significantly. Sustainable business models are projected to unlock more than $12 trillion in global GDP, creating 380 million jobs, with more than half of them located in developing countries. Opportunities for MSMEs have been identified under each SDG, and the Global Sustainability Development Summit 2023 will focus on showcasing business examples and SDG-supporting good practice initiatives relevant to MSMEs.

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