Applying fair trade concepts more widely across industry, promoting cooperatives, and sharing financial expertise with grassroots organisations are all ways in which the finance community can help towards meeting the 2030 UN sustainable development goals (SDGs).
After the launch of Finance & Business2030 conference in London, Chartered Accountants Worldwide surveyed more than 120 delegates for their thoughts and reactions following the event which featured finance and business professionals discussing ways to develop a plan of action towards achieving the goals. FinBiz2030 is a joint initiative between One Young World, Chartered Accountants Worldwide and the City of London.
As part of the survey, we asked delegates from across the spectrum of public, private and third sectors, what digital skills, expertise and innovative ideas can the finance and business community bring to the goals. Here’s what they told us:
Fair trade; wide reach
Applying fair trade concepts across more industry sectors was a key point of agreement. While the idea is well established in areas like agriculture and mining, our delegates felt it can be applied more universally across industries. The fair trade symbol is instantly recognisable in the consumer world; our delegates wondered if it’s possible to create an equivalent for the B2B market.
Sharing the knowledge
Another strong suggestion was for finance professionals and the sector as a whole to share and provide both expertise and funding to grassroots organisations. This community-driven approach to supporting projects would allow finance to scale up or down as needed.
Delegates also want to see the finance sector to support self-led communities by sharing knowledge, advice, skills and financial literacy. This needs the sector to listen to grassroots organisations and understand their needs. Some suggested that these initiatives could come in the form of pro bono work, in a similar way to the legal profession.