Humanity is concerned about their actions, especially about climate change and its collateral effects on the production of goods and services. Given this, sustainability draws a guide on how companies can transform their operations to be more environmentally friendly.

For the executive vice president of the National Council of Private Enterprise (Conep), César Dargam, “companies must converge their practices to sustainability, being aware that their actions can impact the environment.”

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He expresses that, in addition to the concern about climate change, becoming a sustainable company is a long-term investment, it reduces operating costs and optimizes results.

It indicates that companies must transform their operations in such a way as to promote sustainability, competitiveness and guarantee protection of the environment, being actions that add value to the social impact of Dominican business activity.

Meanwhile, the representative of the Dominican Republic for the United Nations Development Program (UNDP), Inka Mattila, assures that it is not about investing, but about adding a value proposition with perspectives from sustainability and inclusion.

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“We have to include a broad view of sustainability in companies, because consumers demand that their companies be aligned with the Sustainable Development Goals (SDG) and with inclusive and nature-friendly practices,” explains Mattila.

MSMEs

According to data from the Central Bank (BCRD), 51.7% of the employed population is informal, that is, 2,306,509 of the total (4,465,220). 48.3% correspond to the formal sector, with 2,158,711 employees.

The MSME sector is the business fabric of the Dominican Republic. Given this, Dargam acknowledges that “talking about sustainability is not the highest priority for these businesses, which is why we try to encourage the thought and culture that being sustainable will do well in the short and long-term future.”

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It understands that society consumes more conscientiously and has more power in decision-making in company operations, so business organizations must ensure that they are transparent with their operations.

Objectives

Experts believe that the economies of the Latin American and Caribbean region will require a commitment to sustainable development goals, and implementation will be critical to long-term economic growth.

The countries are on their way to the 2030 Agenda based on the Sustainable Development Goals (SDGs). In the SDG 2022 report, the Secretary General of the United Nations, Antonio Guterres, indicated that the global crises have created a financial gap of US$2.5 billion.

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Given this, the International Monetary Fund (IMF) indicates that the financial flows of contribution to the SDGs only add up to US$3,000 million. However, the United Nations estimates that, to meet the SDGs, global economies need between US$5 billion and US$7 billion of investment each year until the 2030s.

The organization reveals that the countries with the weakest economies will need an investment that ranges between US$2.5 billion and US$3 billion annually.

“In health and education alone, additional investments of US$1.2 billion will be required. Meanwhile, the construction of roads, electricity and providing drinking water, the estimated investment amounts to US$1,400 million”, details the UN.

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In addition, this financing will increase due to the “worsening” of people’s living conditions after the covid-19 pandemic.

Dargam understands that no country is prepared to be sustainable, but highlights the economic resilience of the Dominican Republic after overcoming the effects of the coronavirus.

Program

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The private sector can be a relevant actor in the practices to comply with the 2030 Agenda of the SDGs, as Mattila defines the Sustainable Companies program.

The UNDP together with Conep created the “Promising Practices” program to show the actions from the business strategies of companies and business associations on their execution in socio-environmental issues.

“An alliance with governments, civil society and the business sector becomes a global strategy as vital actors in the fulfillment of the 2030 Agenda in the country, we also promote the adoption of the Sustainable Development Goals as the main basis for their strategies and operations,” says Mattila.

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The executives understand that the program is consolidated as a mechanism to publicize promising initiatives that are generating positive socioeconomic and environmental impacts in the Dominican Republic.

According to Mattila, sharing initiatives that generate positive economic, social and environmental impacts serves as an example and motivation for more organizations to integrate the vision of Agenda 2030 into the core of their activities, and contribute to the fulfillment of the SDGs in the Dominican Republic. .

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