Firms should use technology to help world achieve SDG targets

In a world of complex and interconnected challenges, the private sector's role in advancing sustainable development has never been more pivotal.

Companies today have a unique opportunity nay, a responsibility, to leverage technology effectively and accelerate progress towards the 17 interlinked Sustainable Development Goals (SDGs) to address development concerns for people and the planet.

The global goals, adopted by the United Nations, are a universal call to action to end poverty, protect the planet and ensure that by 2030, all people enjoy peace and prosperity.

Eight years since the adoption of the goals, the world continues to face challenges such as the climate crisis, supply chain challenges, a weak global economy and the lingering effects of the Covid-19 pandemic that have hindered progress towards the goals.

An SDG Progress Report released earlier this year by UN Secretary-General António Guterres showed that we are offtrack with 85 per cent of the SDG targets despite being at the half-way point to the set deadline for achieving the SDGs. This has had a direct impact on the world’s poorest and most vulnerable.

Achieving these goals, therefore, requires concerted effort, resources, and innovative solutions which is where the private sector comes into play. Private companies can incorporate technology to accelerate and streamline the achievement of the goals while utilising innovations at their disposal to help curb some of the most challenging issues in socioeconomic development.

According to a Force for Good report titled, 'Technology for a secure, sustainable and superior future” released in February this year, the use of technology will reduce the cost of SDGs by $55 million (approximately Sh8 billion) which will enable the world to achieve 103 out of the 169 SDG targets.

We can explore how technology can and has contributed to the SDGs by focusing on a three-fold investment approach: Infrastructure, services and expertise or people.

Infrastructure such as solar panels have done well to reduce greenhouse gas emissions as we seek to address climate change. The World Economic Forum estimates that the use of solar energy is growing at a rate of 20 per cent per year with projections that solar technology is expected to replace fossil fuels by 2050. This will fast-track the attainment of SDG 7, which calls for clean energy. The investment in renewable sources of energy such as solar has also made access to power affordable.

In the healthcare sector, we are seeing innovations such as tele-medicine bringing services closer to populations that are marginalised. In education, infrastructure supporting integrated learning is improving outcomes by ensuring studies are more interactive for learners and that education content reaches learners from wherever they are.

Technological services such as mobile money transactions have improved financial inclusion with more people having access to credit thus reducing inequalities and poverty.

We have a chance as the private sector to invent and create unique opportunities to improve people’s quality of life and contribute to sustainable livelihoods across Kenya.

Mr Kiptinness is the Chief Corporate Affairs Officer, Safaricom PLC