Realising Good Growth SDG16

Overview

UN SDG 16 addresses the need for significant intervention to promote peace and inclusive institutions and contribute to the other Sustainable Development Goals. Areas of improvement include reducing lethal violence, reducing civilian deaths in conflicts, and eliminating human trafficking.

Business thrives in peaceful environments with effective institutions where operating costs are predictable and working environments are stable. Failure to implement responsible business practices can result in additional expenses and risks (financial, legal, reputational). It can also exacerbate tensions and instability and undermine the rule of law. Corruption causes inefficiencies in markets because it renders transaction costs uncertain, is anti-competitive and hampers businesses’ ability to comply with human rights and other obligations.

Business Opportunities & Benefits

• Supporting SDG16 initiatives can have a positive social impact, contributing to a more just and equitable world.
• A peaceful and inclusive society fosters innovation and creativity, which can lead to new products, services, and business opportunities.
• By promoting peace and justice, organisations can reduce costs associated with security, legal disputes, and reputational damage.
• Supporting peaceful and inclusive societies can help to reduce risks associated with political instability, social unrest, and violence, which can negatively impact business operations.

How can we pursue SDG16?

A responsible business can undertake strategic social investment, public policy engagement and collective action to make meaningful contributions to lasting peace, development and prosperity while ensuring long-term business success. Businesses can also commit to working with governments and civil society to eliminate all forms of corruption and support strengthening the rule of law.

Businesses can take positive actions:
• Comply with laws and seek to meet international standards, and require and support business partners to do the same.
• Commit to and implement conflict-sensitive, lawful and transparent operational policies and practices.
• Conduct risk and impact assessments to identify and mitigate risks that may contribute to corruption, violence and conflict, and weakening of the rule of law and identify opportunities for positive impacts.
• Reject business and supply chain practices such as bribery, slavery, smuggling, and false claims about products/services.

Individuals can take purposeful actions that include:
• Stay well informed and apply critical thinking.
• Vote, taking advantage of your right to elect the leaders in your country and the local community.
• Know your rights at work.
• Be active in your local community in voluntary roles.
• Run for a public or community post.
• Speak up, asking your local and national authorities to engage in initiatives that don’t harm people or the planet.

Sustainable Development Goal #16

Peace, Justice and Strong Institutions

Overview

Business Opportunities & Benefits

How can we pursue SDG16?

More SDGs