Promoting sustainable development through responsible business conduct

Investment can help raise standards of living through job creation, skills and technology development, and distribution of wealth. Achieving these impacts, however, depends on the quality of the investment as much as the quantity. Irresponsible business practices not only erode the investment and business environment they can result in economic loss, environmental degradation, poor labour conditions, and in the most serious of cases, injury and loss of human life. Responsible business conduct principles and standards emphasise the integration of environmental and social concerns within core business operations. This chapter discusses how responsible business conduct can directly contribute to achieving the Sustainable Development Goals, while also being good for business. It examines the main global guidelines, principles and standards, as well as the role of governments.Challenge piece by Marco Lambertini, WWF International. Opinion pieces by Peter Bakker, World Business Council for Sustainable Development Sharan Burrow, International Trade Union Confederation.