The Lagos Deep Offshore Logistics base (LADOL), has joined notable world business promoters in the quest of developing a sustainable business outlook that is expected to unlock over US$12 trillion in new market value as well as repair the global economic system within the next decade.
Rising from a crucial confab in London, United Kingdom (UK) recently, the group under the umbrella body of Business and Sustainable Development Commission (BSDC), raised the optimism that sustainable business models could open economic opportunities of such high value while at the same time creating over $380 million every year by 2030.
The Business and Sustainable Development Commission which was launched in Davos in January 2016, has the Managing Director of LADOL Dr. Amy Jadesimi as a member from Nigeria alongside other 36 leaders drawn from business, finance, civil society, labour, and international organizations across the world.
The Commission has a twin objective of mapping the economic prize that could be available to business if the United Nations (UN) Sustainable Development Goals are achieved, as well as highlighting how businesses can contribute to delivering such goals.
In a report released by the Commission, the body stressed that the next decade would be critical for companies to open sixty key market “hot spots,” tackle social, environmental challenges, and re-build trust with the society at large.
It further pointed out that putting the Sustainable Development Goals, otherwise called Global Goals, at the heart of the world’s economic strategy could “unleash a step-change in growth and productivity, with an investment boom in sustainable infrastructure as a critical driver”.
It however noted that “this will not happen without radical change in the business and investment community. Real leadership is needed for the private sector to become a trusted partner in working with government and civil society to fix the economy”.
Commenting on the goals of the Commission, Dr. Jadesimi, a member of the global body urged members to demonstrate commitment to the ideals of the report, beyond making it a mere paper work. “We need to show these ideas work not just in a report but on the business frontline,” Jadesimi explained.
In its flagship report tagged ‘Better Business, Better World’, the Commission recognizes that while the last few decades have lifted hundreds of millions out of poverty, they have also led to unequal growth, increasing job insecurity, ever more debt and ever greater environmental risks.