Turning Words into Action: Insights from UNGA on the Power of Impact

Having just spent an eventful week in New York, I had the privilege to participate in various forums from Concordia to the UN Global Compact and Foreign Policy Forums as well as the United Nations General Assembly. With so many gatherings and meetings with people from all over, one really gets the pulse of the world. It's incredible how one word stands out amidst all the discussions and deliberations: "impact."

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In a world embroiled in a four-dimensional power struggle—political, military, economic, and cultural—coupled with discussions on risk mitigation and conflict readiness, UN-based gatherings continue to witness commitments to sustainable development goals. Today, it's no secret that questions about the effectiveness of the UN are pervasive. As we witness the steady rise of original BRICS countries and emerging powers like Indonesia and Mexico, it's only natural that they seek platforms that can amplify their influence—and rightfully so. Two obvious avenues that have already been taken are the expanded BRICS and the Shanghai Cooperation Organization. What's even more intriguing is the spontaneous emergence of collaborative endeavors, especially along the India-Middle East-Europe corridors or Lobito (Angola-Zambia-DRC) corridors. Regional groups like ASEAN are also stepping up their game, engaging their partners in more strategic and innovative ways than ever before.

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Additionally, there's a fascinating trend in the formation of "mini-multilateral" groups, where like-minded nations unite for specific purposes. These range from security-focused alliances like the Quad and AUKUS (United States, Australia, and the United Kingdom) to technical coalitions such as the US/UAE collaboration on AIM for Climate, which recently secured commitments exceeding $13 billion from over 50 countries . And let's not forget the G7, which is gradually transitioning into something akin to the "steering committee" of the developed world. While the UN's rapid transformation into an even more effective institution seems unlikely, it remains the linchpin for sustainable development. As #climate week and #SDG action week at #UNGA showed, the UN still provides THE forum where the world meets to share, debate—and often agree—about what to do about the world’s challenges.

The Malaysian Prime Minister, Dato Seri #AnwarIbrahim, said it best in a gathering with global investors that, “economic development is imperative but it cannot be growth for growth's sake. It is meaningless unless it also delivers progress on our core values of sustainability, care & compassion, inclusion and justice”. In fact, it is clear that the world is now entering a new age. An age necessitated by climate change, enabled by digital technologies, and where countries and companies have to deliver both economic and social value to their stakeholders.

Nations recognize that without progress in development, they risk losing their standing, even without any overt conflicts. But how can nations translate their commitments into tangible progress? My #BCG colleagues and I have identified five catalytic unlocks that the world can focus on to achieve the SDGs (Sustainable Development Goals). However, as I alluded to in my previous post, this cannot be the sole responsibility of the social sector. The private sector, with its substantial financial and human capital, along with its remarkable organizational capabilities, must be mobilized to create socially transformative businesses. My colleague Wendy Woods describes how the private sector can mobilize in ways that mutually benefit their business interests and the betterment of the world here .

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Then there's the public sector, holding the longest levers of power. It's not that governments dismiss the importance of the SDGs; rather, they contend with a range of pressing issues that demand immediate attention. Development challenges, by their very nature, require sustained efforts. Nevertheless, there's a viable path forward. If governments can deliver measurable progress and impact in the short term, the momentum to address these challenges can be generated and maintained. Several countries, including those with lower and middle incomes, have achieved noteworthy and sustained progress toward the SDGs by leveraging the tools at their disposal. Drawing from their success stories, we have distilled a roadmap for how governments can accelerate impact.

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Our approach includes the pragmatic and the technical. We firmly believe that crafting a compelling narrative that aligns national priorities with the SDGs and mobilizes the public is essential for garnering support. On the technical front, there's a need to design paradigm-shifting, long-term programs and strategically sequence the utilization of various government tools (such as financing strategies, partnership development, and regulation) to amplify the impact of a programmatic vision. We are confident that the tools for effecting change already exist within governments' arsenals and, when thoughtfully deployed, can propel governments toward swifter progress in achieving the SDGs.

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Remember, impact is not an elusive concept. This past week has shown that it is not only attainable but can also be accelerated. All we need is to take that crucial first step, no matter how modest it may seem.

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