In September 2000, leaders from 189 countries gathered at the United Nations headquarters to sign the historic Millennium Development Goals (MDGs), committing to achieve a set of eight measurable targets to be established globally by 2015.
After MDGs
In September 2015, the United Nations adopted the 2030 Agenda for Sustainable Development, establishing a global development blueprint for a period of 15 years (2016-2030). It aims to achieve economic prosperity, environmental sustainability, and social justice for all people worldwide, moving towards sustainable development.
The Agenda sets forth 17 Sustainable Development Goals (SDGs) with 169 specific targets, supported by all 193 member states. It replaces the Millennium Development Goals.
Sustainable development is defined as "Development that meets the needs of the present without compromising the ability of future generations to meet their own needs." Our Common Future, 1987.
Why should we prioritize sustainable development?
On June 28, 2024, the United Nations Department of Economic and Social Affairs released the latest Sustainable Development Report. The report shows the global progress towards achieving the 2030 Agenda for Sustainable Development, indicating that the results are seriously off track. Among the specific goals, 18% have stagnated, and 17% are performing even worse than the 2015 baseline.
Climate change in Hong Kong
Extreme precipitation events have become more frequent. The hourly rainfall record at the Hong Kong Observatory Headquarters used to be broken once every few decades in the past. However, the record has been broken several times in the recent few decades. by Hong Kong Observatory
Investors' Direction Towards Sustainable Assets
"From January through November 2020, investors in mutual funds and ETFs invested $288 billion globally in sustainable assets, a 96% increase over the whole of 2019. I believe that this is the beginning of a long but rapidly accelerating transition – one that will unfold over many years and reshape asset prices of every type.“
Mr. Larry Fink
Founder, Chairman and Chief Executive Officer of BlackRock, Inc.
2021 Letter to CEOs on 26th January, 2021
Tips: How should businesses get started?
Identify and Commit
Determine how the SDGs are directly or indirectly related to the business
Align priorities with the most relevant SDGs
Engage with stakeholders to create positive impacts
Set goals and key performance indicators to monitor and communicate progress
Ensure alignment of sustainability with business strategy and objectives
Reevaluate business models, products or services, supply chains, and innovation and R&D.
Create Business Opportunities
Collaborate and scale efforts
Measure, assess, report, and communicate.
Publicly commit to achieving the relevant SDGs
SDG Actions Hong Kong is open to all corporates, subsidiaries, SMEs, organisations, individuals, and students in Hong Kong who are committed to or have contributed to driving SDGs.
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