The proposal is in line with India’s so-called corporate social responsibility law, which mandates a contribution of 2% of net income by large listed firms. Nations have stalled or gone into reverse on a third of the SDGs, namely no poverty, zero hunger and climate action, whereas progress on other goals is “weak and insufficient,” the United Nations said in its SDG report this year.
A global fund to accelerate achievement of sustainable development goals is among the key proposals made by Tata Sons Chairman N Chandrasekaran, this year’s chairperson of B-20. A solution has to be found to help mitigate the climate change impact on the global South, a problem largely created by developed and G-20 nations, Lynn Forester de Rothschild, billionaire businesswoman and philanthropist, said in an interview to Bloomberg. It’s unlikely global corporations will agree but one way is if governments can seek to collect this as a tax, she said
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