Transitioning to Decent Work and Economic Growth

Abstract

According to the United Nations Development Program (UNDP) and the United Nations Conference on Trade and Development (UNCTAD), the private sector plays a key role in achieving the UN Sustainable Development Goals (SDGs). After all, sustainable and inclusive economic growth is essential to enable more people to participate in global prosperity. Encouraging entrepreneurship and job creation are key to SDG 8, as are effective measures to eradicate forced labor, slavery, and human trafficking. Since more than 90 percent of jobs are created by the private sector, more attention must be paid to entrepreneurs that help create dynamic and responsible enterprises that often generate positive externalities for society and the environment through investments in scalable innovations and a commitment to local embeddedness. As such, they help lift people out of poverty through new and relatively well-paid jobs and enable local economies to become more sustainable through global value chain integration.