UN SDG 17 calls for the revitalization of global partnerships for sustainable development. This short paper indirectly responds to this call by presenting the importance of multi-stakeholder cooperation to solving governmental, business, and developmental challenges of this century. This, it explains by ruling that tackling today’s corporate challenges require the co-operation and engagement of all stakeholders. It particularly stresses the involvement of every stakeholder, including competitors, as crucial towards inclusive business, growth, and contribution to sustainable development.
Divided into five (5) short but precise chapters, this 16-page document, touches on the rational for Multi-Stakeholder Initiatives (MSI), functions and characteristics,, the role of stakeholders, governance, and evaluating effectiveness and impact of MSIs.
The chapter on function and characteristics supplies three (3) important elements of MSI. The role of stakeholders captures the relevance of the private sector to the success of any MSI project as well as the importance of MSI to the private sector. It also highlights the roles of NGOs, the government, and other stakeholders.
Governance of MSIs indicates the structure and mechanisms of governance, financing, as well as strategies for handling grievances while the final chapter lists seven (7) criteria for evaluating the effectiveness and impact of MSIs. The use of several case studies buttresses each chapter and the essence of the paper.
The paper can be said to unintended in justifying the role of all sectors in the attainment of sustainable development because it serves as an explicit manual for planning.
Publisher: CSR Asia
Date of Publication: 2015