Local corporates uplift Sri Lankan living standards
Sri Lankan corporates are to help boost the livelihoods of locals by contributing to society through their efforts as part of the United Nations Global Compact considered the world’s largest corporate sustainability initiative.
In this regard, Sri Lanka joined world leaders on Friday to adopt the 17 Global Goals by 2030 that has seen a number of international artistes including A.R. Rahman to Ashton Kutcher to political leaders like Bill Gates and Jordanian Queen Rania Al Abdullah to businessmen like Richard Branson and scientists of the calibre of Prof. Stephen Hawking and sports stars Gareth Bale.
In Sri Lanka about 40 local signatories including 50 multinational companies; 500 other companies and a number of SMEs, NGOs and Academic institutions and associations have become part of this global programme aimed at aligning their strategies and operations with universal principles on human rights, labour, environment and anti corruption and taking actions that advance societal goals. This was stated at a media briefing held on Wednesday by the Global Compact Network Sri Lanka Representative/Director Sutheash Balasubramaniam.
Global Compact was set up about 15 years back to transform business to create an impact on the society.
Since then there have been 8, 346 companies from 161 countries producing 32, 708 public reports as part of the Network.
Mr. Balasubramaniam spoke of the key issues facing Sri Lanka that could be curbed with most frequent natural hazards leading to vector borne diseases that spread at an alarming rate.
In addition, he pointed out that vulnerable communities living along canals suffered from deteriorating conditions due to a lack of risk preparedness, canal management and waste disposal programmes and early warning systems for flooding.
Rise in the sea level has led to inundation of the low-lying coastal areas, shoreline retreat, intrusion of salinity and negative impacts on coastal habitats, it was asserted.
Globally the situation looked no better with only the top 20 per cent of people consuming 86 per cent of the goods and services according to World Bank estimates. As a result, about 80 per cent of the people consume 14 per cent of the goods and services and the top 10 per cent of the world population controlled 48 per cent of the total wealth.
In this respect, it was found that 85 of the richest people have more wealth than the bottom 3.5 billion people of the world.
The Sri Lanka Network is run by a group of five persons who are faced with the issue of lack of available data in addressing these key issues, Mr. Balasubramaniam stated.
The group has called for urgent action to eradicate poverty and address issues on climate change and gender inequality at the corporates and in the overall society as well. In this regard, Sri Lanka together with other UN countries would be signing up to achieving the 17 Sustainable Development Goals by 2030 and 169 targets that would be building on the Millennium Development Goals and complete what these were not able to achieve.
The goals identified are – ending poverty; end hunger and achieve food security; ensure healthy lives; ensure inclusive and equitable quality education; achieve gender equality; ensure availability and sustainable management of water and sanitation; ensure access to affordable, reliable, sustainable and modern energy; promote economic growth and employment for all; build infrastructure; reduce inequality; make cities sustainable; ensure sustainable consumption; action against climate change; sustainable use of sea and marine life; promote sustainable use of terrestrial ecosystems; promote peace and justice; and strengthen and revitalise global partnership for sustainable development.