THE Philippines needs to incorporate small and medium enterprises (SMEs) in the effort to achieve the Sustainable Development Goals (SDGs) to meet the 2030 timeline set by the United Nations (UN), the Philippine Chamber of Commerce and Industry (PCCI) said.
“At the halfway point to 2030 — the target year set by the UN for the achievement of the SDGs — the challenge before us is how to accelerate,” PCCI President Enunina V. Mangio said in a speech delivered by PCCI Vice-President Jude Aguilar at the PCCI SDG Effectiveness Summit on Thursday.
She called for translating commitments “to concrete, scalable, and effective action and deliver on the promise of the SDGs of a better quality of life for all, in the five years we have left.”
“While small businesses generally recognize that the SDGs are important, for many, these goals remain theoretical,” she added.
“Nevertheless, a growing number are already incorporating the SDGs in their business practices, and momentum is clearly building,” she said.
About 70% of the PCCI membership consists of SMEs.
“This is where PCCI comes in — to strengthen that momentum by providing support systems such as training, reporting tools, and other forms of assistance that will help institutionalize the SDGs among our SMEs,” she added.
Economy Undersecretary Rosemarie G. Edillon pointed to four systemic challenges that need to be addressed before 2030.
These are financing to accelerate progress on the SDGs, impacts of climate shocks and limited adaptive capacity to natural disasters, risks that hamper economic stability and growth, and political challenges.
She expects the private sector to play a catalyst role in the sustainable development effort.
“The first thing we ask from the private sector is to pioneer technologies, business models, and solutions that accelerate sustainable and inclusive development,” she said.
She also said that the private sector can help bridge financing and capacity gaps by leveraging private capital and infrastructure, generate quality jobs by investing in green industries, and empower smaller enterprises, among others. — Justine Irish D. Tabile