New Vision for Development

Economies and businesses will need to be transformed if they are to ensure sustained improvements in living standards for all the world’s citizens. Enhancing the inclusiveness of growth is a long term process that requires long-lasting commitments across a multitude of stakeholders to mobilize resources, time and effort, and in order to do so, they increasingly require more coordinated and better information to help them identify the right decisions and prioritize actions.

This initiative seeks to fill this void by creating a user-friendly and accessible platform for stakeholders to develop and champion solutions thereby providing a new eco-system where the private sector, local governments, the donor community and civil society all work together – in a more coordinated fashion – towards development goals. Scaling-up success stories and avoiding common pitfalls by joining resources and forces of the private and public sector to accelerate progress and to unite all actors towards a common direction.

The challenge

Across the world, the need for a more inclusive model of economic progress is becoming apparent. But concrete policy and business responses are not. The project aims to make a difference by eliminating the following barriers:

• Lack of information on, and experience of, successfully overcoming constraints to inclusive growth
• Lack of simple, universal metrics and of a common language to measure and address social and business challenges along value chains
• Poor coordination across the public and private sectors in identifying creative partnerships that bring together different industries and other actors

Goal

The initiative will accelerate the adoption of innovative and inclusive public policies and business strategies to solve societal challenges, thereby facilitating the achievement of the Sustainable Development Agenda (SDGs). The project will achieve this through:

• Better measurement: making more transparent how the public and private sector positively impacts societies and offering a universally usable tool for this purpose
• Knowledge sharing and capacity building: identifying common constraints and barriers to develop, implement and scale up solutions that create social and business value simultaneously
• Creating partnerships:incubating a diverse community of public and private partners to advance and accelerate solutions for economic development and social equity through more inclusive and responsible international supply chains