UKIBC launches socio-economic impact campaign

The UKIBC has launched a campaign to assess the socio-economic impact of UK businesses in India with a view to make sustainable development efforts by companies more effective.

Key findings and observations from the campaign will be compiled into a report to be released in 2020 to coincide with the UN Climate Change Summit in Glasgow, the UKIBC stated.

"UK businesses and universities want to succeed in India, and their definition of success includes helping India achieve its socio-economic objectives," Richard Heald, Group CEO, UK India Business Council, said.

The campaign is being delivered in partnership with the United Nations Development Programme and will map the activities of businesses and universities against the UN's sustainable development goals.

"UNDP is excited to partner with UKIBC on this study to measure the socio-economic impact of UK businesses in India. The Sustainable Development Goals provide an excellent framework for this study.

"We hope that its findings can help make corporate social responsibility efforts more effective, and help companies act on the climate crisis and improve the livelihoods of millions of people across India," Shoko Noda, UNDP Resident Representative in India, said.

The UNDP-UKIBC partnership will facilitate mapping of UK businesses socio-economic impact against the 17 Sustainable Development Goals, which are aimed at eliminating poverty and ensuring prosperity, ranging from environmental sustainability to advancing education.

"UKIBC's initiative will lead the path in harnessing the resources in finance, knowledge, innovation, and strategy of the business sector in India for the successful implementation of the SDGs," Sanyukta Samaddar, Advisor at Niti Aayog said.