Center for Sustainable Business | Invest NYC SDG Initiative

New York City is the first city in the United States to align its ambitious sustainability goals with those of the world. Our purpose is to support NYC in its work to achieve the UN Sustainable Development Goals (SDGs) — “localizing the SDGs.”

This project aims to take on six primary areas: sustainable mobility, the built environment, climate resilience, renewable energy, food and health, and waste. Ultimately, our goal is to identify the best private sector business and finance opportunities, where there are significant interested key players, realistic business incentives, alignment with government policy, support from the community, and significant impact in meeting the SDGs. 

Through concrete demonstration projects in NYC, we also plan to identify any government policy, and/or finance innovation needed to be successful.  With this work, we hope we will have created a road map for other cities, both in the U.S. and internationally, to achieve the SDGs with strong private sector support.

The Process

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.

Focus Areas

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