Private sector partnerships
Public and private institutions are converging towards the achievement of development results. One of the SDG Fund priorities is to facilitate this convergence, leading to a shared responsibility in development challenges.
SDG Fund Private Sector Advisory Group
The SDG Fund’s private-sector strategy has two goals: involving businesses in each of our programmes in the field from the start and creating a global business advisory council.
To better align public-private partnerships for sustainable development, the SDG Fund has established a Private Sector Advisory Group, formed by business leaders of major companies from various industries worldwide.
SDGF Framework of Engagement
The experience of the MDG-F suggests that public-private partnerships can contribute to achieving development goals, capacity building, wealth distribution, and sustainable economic growth.
The private sector is understood as micro-, small, medium, and large companies, self-employed workers, business associations, unions, chambers of commerce, and foundations.
For example, the SDG Fund programmes took into account the following criteria for designing programmes regarding public private partnerships:
- Has the project included the private sector in its design and implementation?
- Does the project include solutions to development challenges through core business activities and initiatives that include low-income groups in value chains and as producers, suppliers, employees, and consumers?
- Does the project facilitate discussion between the public and private sectors and civil society on a specific development theme or industry sector?
- Does the private sector include micro-, small, medium, and large size companies?
- Does the project promote entrepreneurial activities of disadvantaged or low-income persons?
- Does the project promote public and private sector representatives’ joint decisions?
- Is a results-based management approach used in the design of the project?
- Does the project include measurable activities and indicators related to the number and size of private institutions participating in the program?
- Does the project include measurable joint activities between private institutions/private sector and public sector?
- Does the program aim to enable companies to improve and develop corporate social responsibility? Does it include synergies with current corporate social responsibility initiatives?
More information on the SDG Fund Private Sector Advisory Group: link.
For further information, see:
Document HR/PUB/11/04, Guiding Principles on Business and Human Rights, prepared by the Office of the High Commissioner on Human Rights