Private Sector Must Lead with Generative AI to Accelerate Sustainable Development Goals and Meet 2030 Deadline

September 17, 2024

Private Sector Must Lead with Generative AI to Accelerate Sustainable Development Goals and Meet 2030 Deadline

New report from the United Nations Global Compact and Accenture gives business leaders the tools to develop and deploy generative AI responsibly and sustainably

UNITED NATIONS, New York; Sept. 17, 2024 - The continued disruption around the world has put most of the Sustainable Development Goals (SDGs) out of reach, with only 17% of set targets currently on track to meet the 2030 deadline. Concurrently, the emergence of generative AI is reshaping the world of business, with an overwhelming majority (97%) of leaders across industries pointing to generative AI as playing the major role in their reinvention over the next three to five years.

Against this backdrop, the UN Global Compact, in collaboration with Accenture, has released a pivotal new report-titled "Generative AI for the Global Goals: The Private Sector's Guide to Accelerating Sustainable Development with Technology"- to guide business leaders on how to leverage generative AI as a transformative force for advancing the SDGs by 2030. The report underscores how generative AI can enhance operational efficiency, boost productivity, foster innovation and streamline sustainability reporting in new ways that put meaningful progress toward the SDGs.

Sanda Ojiambo, CEO and Executive Director of the UN Global Compact remarked, "At this critical juncture, generative AI isn't just a technological advancement-it's a transformative tool that offers unprecedented opportunities for the private sector to accelerate progress of the Sustainable Development Goals. However, the potential of this technology can only be realized if it is harnessed responsibly, with due consideration to the ethical implications and sustainability impacts. The UN Global Compact remains committed to guiding businesses on this journey, ensuring that AI technologies are used to benefit both people and the planet."

While recognizing the huge potential generative AI offers, the report also cautions against its risks. It provides a robust framework for companies to implement generative AI responsibly, emphasizing the importance of human oversight, ethical governance and the alignment of AI strategies with the Ten Principles of the UN Global Compact. The report calls on businesses to take bold, ambitious actions to bridge the gap between current efforts and the 2030 Agenda for Sustainable Development. Key findings include:

• Operational Efficiency: The report dives into how generative AI can help businesses improve predictive analytics and maintenance, thereby lowering energy use and downtime. This effort is critical as companies seek to manage limited resources to achieve sustainable and consistent results within both financial and environmental limits.
• Sustainable Value Chains: Generative AI can enable businesses to conduct comprehensive lifecycle assessments, identify and mitigate risks in procurement and engage suppliers on sustainable practices. For example, advanced AI tools are being used to track carbon footprints across complex global supply chains-helping ensure suppliers at all levels follow high sustainability standards.
• Innovation for Sustainable Solutions: Companies can use generative AI to rapidly prototype and deploy sustainable solutions that meet emerging social and environmental needs. This is possible by speeding up research and development, as well as product and service design, especially in green finance and sustainable materials.
• Communication and Reporting: Effective communication and reporting of financial and non-financial data has become increasingly important as added regulations take root globally. By automating data collection, analysis and report generation, generative AI can revolutionize sustainability reporting, increase literacy across the organization on sustainability measures and help comply with regulatory frameworks.

"The optimistic vision that generative AI makes the world more inclusive, sustainable, equitable and fair hinges on its responsible development and deployment," added Stephanie Jamison, global resources industry practice lead and global sustainability services lead at Accenture. "In using generative AI to help advance the Global Goals, the private sector must lead from the front by building trust and transparency that balances the need to maximize value while minimizing potential risks as we move to a more equitable and sustainable future for all."

The Generative AI for the Global Goals report is the newest in a long-running partnership between the UN Global Compact and Accenture. It gives a detailed guide on how the private sector can use technologies like generative AI to help develop sustainable development. This report includes case studies, insights from interviews with private-sector leaders and ready-to-use resources to help businesses use generative AI to support people and the planet.

Notes to Editors

About the UN Global Compact As a special initiative of the United Nations Secretary-General, the UN Global Compact is a call to companies worldwide to align their operations and strategies with Ten Principles in the areas of human rights, labour, the environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 20,000 participating companies, five Regional Hubs, 62 Global Compact Country Networks covering 77 countries and 14 Country Managers establishing Networks in 20 other countries, the UN Global Compact is the world's largest corporate sustainability initiative-one Global Compact uniting business for a better world. For more information, follow @globalcompact on social media and visit our website at unglobalcompact.org.

About Accenture
Accenture is a leading global professional services company that helps the world's leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services-creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 750,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world's leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities. Visit us at www.accenture.com.

# # #

Contacts:

Alex Gee
United Nations Global Compact
+447887 804594
[email protected]
[email protected]

Alexander Aizenberg
Accenture
+1 917 452 9878
[email protected]