Bharti Enterprises chairman Sunil Bharti Mittal Tuesday
stressed the need to carry out reforms in global financial regulations and institutions for
mobilising investments for United Nations' sustainable development goals (SDGs).
He also said the global business community has an important role to play in the creation of a financial system aligned with sustainable development.
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"Mobilising investments for SDGs requires unprecedented coordination between public and private institutions. It also requires significant reform to global financial regulation and financial institutions," a company statement quoted Mittal as saying at the World Economic Forum's (WEF) second annual 'Sustainable Development Impact Summit' here.
Convened on the sidelines of the 73rd session of the UN General Assembly, the goal of the summit was aimed at fast-tracking solutions to financing development, renewable energy, sustainable value chains and other far-reaching, systemic challenges to United Nations Sustainable Development Goals (SDGs).
The SDGs, also known as the Global Goals, are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.
The deliberations at the summit focused on building sustainable markets, mobilising development finance, environmental sustainability and harnessing science and technology, the statement said.
Mittal is also co-chair at the WEF summit.
The other co-chairs at the summit include Denmark Prime Minister Lars Lokke Rasmussen, BlackRock Vice Chairman Barbara Novick and Whiz Kids Workshop Chief Executive Officer and creative director Bruktawit Tigabu.
"Orienting a complex global financial system towards the SDGs has it challenges, but it can be done. This transformation can only be achieved through a deeper and purpose-driven dialogue between the public and private sector," Mittal said.
On the sidelines of the WEF Forum, Mittal also moderated a session on "The Changing Face of ICT Regulation" at the Broadband Commission Annual Meeting.
He laid emphasis on the need for an agile framework for an innovative digital ecosystem through flexible light-touch, forward looking, transparent policy and regulatory approach, the statement said.
Mittal further stated that policy and regulatory measures need to facilitate deployment of emerging technologies and innovative business models for affordable digital infrastructure and services, the statement added.
Among the various engagements, Mittal will be on the plenary session on 'Mobilizing Finance for Impact;, along with International Monetary Fund (IMF), managing director, Christine Lagarde.
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