"Why should private companies care about the Sustainable Development Goals? In many countries, the SDGs are the foundation for national plans, budgets and incentives for the private sector," said Ms. Faremo during the event.
The private sector brings the investment, innovative solutions and expertise needed to achieve the SDGs, she explained during the conference on 2 March 2017 in Oslo, Norway.
"If aid went hand in hand with private investments, modest aid funding could help catalyse investments in projects that would otherwise be too risky," Ms Faremo said.
"The United Nations can also play a role in reducing risk, promoting stability and reassuring investors. UNOPS is preparing to play that role," Ms. Faremo added.
During the conference, UNOPS Partnerships Director Nikolaj Gilbert also discussed how the private sector can engage with the United Nations in new ways by building on existing models of collaboration. This includes using partnerships to co-develop new solutions, as well as using new procurement methods to assess innovative solutions.
Also called the Global Goals, world leaders adopted the 17 SDGs in 2015. They serve as guiding principles for global and national priorities to 2030.