From Intentions to Actions: The Role of the Business Sector in Sustainable Development

In this Master thesis, I examine the role of the business sector in sustainable development. I study the extent to which we can rely on companies to achieve the Sustainable Development Goals (SDGs), established by the 2030 agenda, by examining the efficiency of Corporate Social Responsibility (CSR). I will examine an alternative way for companies to conduct business responsibly by joining voluntary initiatives such as the Global Compact (GC). My analysis conforms with the belief that sustainable development cannot happen without the business sector, and that for optimal results the business sector must make beyond CSR and enter in partnerships with other actors in society such as governments, UN agencies, and civil society. However, as this thesis will show, from the data that we have so far, the role of the business sector in sustainable development has been limited and not sufficient to achieve the SDGs by 2030. Therefore, I argue that more government regulation of the business...Show moreIn this Master thesis, I examine the role of the business sector in sustainable development. I study the extent to which we can rely on companies to achieve the Sustainable Development Goals (SDGs), established by the 2030 agenda, by examining the efficiency of Corporate Social Responsibility (CSR). I will examine an alternative way for companies to conduct business responsibly by joining voluntary initiatives such as the Global Compact (GC). My analysis conforms with the belief that sustainable development cannot happen without the business sector, and that for optimal results the business sector must make beyond CSR and enter in partnerships with other actors in society such as governments, UN agencies, and civil society. However, as this thesis will show, from the data that we have so far, the role of the business sector in sustainable development has been limited and not sufficient to achieve the SDGs by 2030. Therefore, I argue that more government regulation of the business sector is necessary if sustainable development is to be achieved; the regulation should promote business activity that is conducive to economic growth while at the same time it should ensure that this business activity will not have negative spill-over effects on society. The achievement of sustainable development necessitates the appropriate mix between government regulations, CSR and partnerships.Show less

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From Intentions to Actions: The Role of the Business Sector in Sustainable Development