As we approach 2030, the private sector must employ a wide range of solutions to help get the Sustainable Development Goals (SDGs) back on track. To help companies take ambitious actions across five key action areas where the business community is uniquely positioned to advance sustainable development, the UN Global Compact unveiled the Forward Faster initiative: a guide on where companies can make the biggest, fastest impact before 2030. By committing to Forward Faster, companies are joining a movement of business leaders and innovators who are paving the way for a safer, more sustainable future.
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About This Episode
Over 2 billion people lack safe drinking water, giving businesses unique challenges and opportunities. Effective water management is crucial to this effort.
In the podcast "Moving Business Forward Faster," the host, Alina Konovalchenko, along with senior advisor Cheryl Hicks from CEO Water Mandate of the United Nations Global Compact and Vedika Bhandarkar, who is responsible for the operational efficiency and effectiveness at Water.org, explores how businesses can play a pivotal role in this transformation. Their insights reveal how strategic water resilience protects the environment and enhances business operational efficiency and reputation.
Hicks highlights how businesses can be part of the solution, not just the problem. She introduces initiatives like the Water Resilience Coalition, which unites companies to tackle the growing water-related risks of climate change.
- The CEO Water Mandate launched a new initiative in 2020 called the Water Resilience Coalition. This coalition came together as a leadership group of companies eager to drive a more ambitious set of commitments for water resilience, mindful of the increasing risks surrounding water in the face of climate change.
Bhandarkar shares Water.org’s innovative approach to market-based solutions and how they are transforming the way non-profits think about financing and water access.
- We are a not-for-profit exclusively focused on enabling access to safe water and safely managed sanitation for impoverished people worldwide. I also represent a group called Water Equity, an asset manager exclusively concentrating on water and sanitation.
So, what if we can redirect some costs towards finding a market-based solution? What if we started partnering with financial institutions globally? Can we persuade financial institutions to begin offering small loans related to water resilience?
One must emphasize the importance of thinking broadly about innovation—it’s not just about technology but also about new collaborations and business models. Listen to this podcast to discover many fascinating aspects.