Bogota, Colombia, 30 November 2017 – Business Call to Action launched the third in its country-focused inclusive business report series, New Horizons: Accelerating Sustainable Development through Inclusive Business in Colombia, in Bogota, Colombia to an audience of private sector actors, donors, government and UN agency representatives on 30 November 2017. The new report, which joins previous reports published in Kenya and the Philippines this year, outlines the role that private sector can play in meeting the Sustainable Development Goals (SDGs) and improving the lives of low income Colombians.
The report finds that with over a quarter of all Colombians living below the poverty line, efforts to tackle poverty and improve living, working and health conditions must be stepped up if Colombia is to achieve its SDG commitments by 2030. In his opening remarks, UNDP Colombia Country Director Pablo Ruiz highlighted the important role that companies can play – especially in their ability to innovate to address issues of poverty and social impact – as key players in achieving the SDGs in Colombia.
Supporting this, the report is intended as a tool for key inclusive business stakeholders in Colombia, including the private sector, government, cooperation agencies (bilateral and multilateral) and development organizations, to gain a better understanding of the ways in which inclusive business can be promoted, positioned and strengthened in the country. It provides recommendations on how business models can be replicated and scaled sustainably, and how diverse actors can support and promote these models, fostering better alignment on all efforts to achieve the SDGs in Colombia.
During the event, panellists examined the business opportunities that existed for companies in involving those living at the bottom of the economic pyramid (BoP) in their business value chains, as well as the broad market represented by this population in the country and Latin America. Four economic sectors in Colombia were identified as having greatest potential to develop inclusive business models: food and agribusiness; infrastructure; health; and financial services.
The report draws its findings from direct input from 54 Colombian companies of different sectors and sizes, as well as through workshops with representatives from public and private sectors, academia, international cooperation and civil society. An analysis of secondary sources was carried out that incorporated knowledge, experience and contributions of national experts in inclusive business.
The event was co-organised by BCtA, UNDP Colombia and CECODES, who co-produced the report.
For further information:
Aimee Brown, BCtA Communications Lead firstname.lastname@example.org
+254 731 859 413
About Business Call to Action (BCtA): Launched at the United Nations in 2008, Business Call to Action (BCtA) aims to accelerate progress towards the Sustainable Development Goals (SDGs) by challenging companies to develop inclusive business models that offer the potential for both commercial success and development impact. BCtA has nearly 200 member companies globally, including 11 that have made inclusive business commitments in the Philippines, and is a unique multilateral alliance between the Dutch Ministry of Foreign Affairs, Swedish International Development Cooperation Agency (Sida), UK Department for International Development, US Agency for International Development, and the Ministry of Foreign Affairs of the Government of Finland, and the United Nations Development Programme — which hosts the secretariat. For more information, visit www.businesscalltoaction.org or on Twitter at @BCtAInitiative.
Turkish water treatment company Aquamatch combines social impact with...