The road to 2030 is getting shorter every day and, at the rate we are going, it will be almost impossible to comply with the 2030 Agenda for Sustainable Development proclaimed in the Paris Agreements in 2015. The Sustainable Development Goals (SDG) are derived from this agenda. .
It is estimated that the Covid-19 pandemic has the potential to aggravate economic inequality in practically every country in the world, as evidenced in a study carried out by OXFAM International, in which 295 economists from 79 countries were interviewed. Therefore, corporate social innovation has become a fundamental intangible value.
Indeed, between May 2019 and July 2021, 1.6 million businesses closed, according to figures from the Study on the Demography of Businesses (EDN) 2021, published at the end of 2021 by the National Institute of Geography and Statistics (INEGI) .
In this regard, Alejandro Villalobos, General Director of Cono Norte de Cumplo, a financing network for SMEs, argues, “The SDGs are a great challenge for everyone, including companies, which are part of the solution to the great problems of humanity. It is urgent that we all get to work to produce a change”.
In this sense, technology can play a fundamental role. It allows to disintermediate access to capital, making it fairer and faster for entrepreneurs, in order to democratize the financial system, connecting companies to a financing network.
Financial inclusion, affordable and easy access to secure financial products in underserved areas, is considered one of the keys to development for millions of people and makes it possible to achieve seven of the 17 UN SDGs.
The focus on impact, which goes beyond sustainability, has meant a radical change in how companies stand before society today: the goal is not only to be the best company in the world, but the best company for the world (as proposed by System B).
Precisely, the Sistema B movement was created with the vision of a new way of doing business. One that benefits not just shareholders, but all stakeholders, including workers, customers, communities and the environment.
B Corps have become the new way of doing business. These have four characteristics: they are motivated by the creation of a positive impact on society and the environment, they expand the fiduciary duty of shareholders and managers to include non-financial interests, they are evaluated and committed to improving their management and transparency standards and, they are part of a community, through their declaration of interdependence.
The profitability of companies is key to their long-term growth, but startups in the region have also shown that technology and a purpose aligned with the business model are crucial to having a positive impact. These are the characteristics that are attracting the attention of investors where initiatives that go beyond their commercial focus and that seek to create a positive environmental and social impact are the new stars of the Latin American technological ecosystem.
“It is the responsibility of all the care and progress of our society and the private sector is one of the most important pillars for sustainable development. The countdown continues, we are on a path towards a permanent impact that can positively change the way we work, for the long-term benefit of all people and the planet” concludes Alejandro Villalobos.