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The knowledge, technology and financing resources to make significant progress towards the UN SDGs are available, but these resources are currently fragmented and siloed throughout a complex stakeholder ecosystem. As a consequence, collaboration can be difficult and impede SDG development.
Government Needs the Private Sector
New York City's long-term strategic plan and Green New Deal, OneNYC 2050, was created in alignment with the UN SDGs and is inspiring in its ambition. Systemic change, however, requires engagement and collaboration between the private and public sectors, at both regional and local government levels. The UN Business and Sustainable Development Commission's 2017 Better Business, Better World report identified $12 trillion in business opportunity with multi-stakeholder interaction.
The Private Sector Needs Government
Effective private sector investment in advancing the SDGs will mean understanding that the focus areas in this project are largely supported by public infrastructure, owned and operated by public entities. This infrastructure requires ongoing management and maintenance within changing physical and financial environments. Real constraints exist for governmental action, particularly as agencies are pushed to do more within the SDG framework. Government entities are subject to various types of compliance regulations that can make innovative policy development with the private sector difficult. But systemic policy and operational change can take place.
NYU Stern CSB Creates the Space and Supports the Conversation
The NYU Center for Sustainable Business intends to lead and create that space over the next eighteen months. As a major research university, trusted by public and private sector stakeholders, NYU brings a broad academic community with many departments already engaged in these SDG issues. Leveraging these resources, NYU Stern CSB will connect important stakeholders among the public sector, interest organizations, and the private sector (including both the corporate and finance sectors) to develop a shared vision of how private sector investment can be stimulated in partnership with the public and non-governmental sectors.
With support from Goldman Sachs Center for Environmental Markets, New York Community Trust, PepsiCo, Con Edison, and Sims Metals Management, CSB aims to help NYC create a blueprint for private sector financing of the UN SDGs at a municipal level. |
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| Focus Area |
Project Types |
| Sustainable Mobility |
Public transportation, electric/hybrid, vehicles, fuel efficiency, and congestion management |
| Built Environment |
Energy efficiency, smart buildings, and affordable housing |
| Waste |
Circular solutions (for plastics, glass, metals, paper, etc.), combined food waste, and wastewater for energy production |
| Renewable Energy |
Wind, solar, ground source heat, identifying renewable energy buyers |
| Food and Health |
Food waste, food deserts, food transport, and urban farming |
| Climate Resilience |
Prevent, prepare, respond, repair and retreat in public infrastructure and private real estate |
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NYU Stern Center for Sustainable Business will coordinate the project under the leadership of CSB Director, Professor Tensie Whelan and Marianna Koval as Project Director. |
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Thank you to the following Steering Committee members for lending their time, expertise and support to the Invest NYC SDG project.
Lindsay Clinton, Executive Vice President of Industry and Innovation, NYC Economic Development Corporation
Lara Croushore, Chief of Staff, Climate Policy and Programs, NYC Office of the Mayor
Miles Draycott, Former Chief Risk Officer for the NYC Pension Funds
Jeff Gitterman, Co-Founder, Gitterman Wealth Management
Gretchen Johanns, General Group Counsel and Company Secretary, Sims Metal Management
Will Kennedy, Programme Officer, UN Office of Partnerships
Micah Kotch, Managing Director, Urban-X
Nilda Mesa, Director, Urban Sustainability and Equity Planning Program, Center for Sustainable Urban Development/Earth Institute, Columbia
Tom Outerbridge, Manager, Sims Metal Management
Kyung-Ah Park, Managing Director & Head of Environmental Markets, Goldman Sachs
Sanaz Raczynski, Adjunct Senior Research Scientist, Nuveen
Frances Resheske, Senior Vice President, Corporate Affairs, Con Ed
Aniket Shah, Senior Fellow at Columbia University Center for Sustainable Investment, Columbia, and former Head of Sustainable Investing, Oppenheimer
Kevin Smith, Vice President, Environmental Markets Group, Goldman Sachs
Tim Wilkins, Partner, Head of Sustainability, Freshfields Bruckhaus Deringer, LLP
John Williams, Chairman and CEO, Impact Infrastructure
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