A significant question is whether the world’s wealthiest firms will share their prosperity or continue with “superficial” commitments? By Julie Peller, Ph.D.

Green Junction

                In 2015, all 193 members of the United Nations adopted the UN Sustainable Development Goals (SDGs) titled Transforming our world: the 2030 Agenda for Sustainable Development. These included 17 measurable goals, 169 targets, and more that apply to all countries, regardless of wealth. Examples of the 17 goals include Zero Hunger, Clean Water and Sanitation, Affordable and Clean Energy, Quality Education, Responsible Consumption and Production, and Climate Action.

                The organization’s tracking and reporting system evaluates progress and identifies shortfalls. Successes since 2015 include reductions in extreme poverty and child mortality in many regions around the world. Other achievements have been increased access to electricity and broadband. However, in the 2024 SDGs report, officials warned that progress has been too slow on many target goals. Major hurdles include a lack of political will and inadequate finances, which require trillions of dollars in public and private investments.

                Researchers from Cambridge studied and identified obstacles impeding the progress of the SDGs in 2024. They listed five major challenges, including the lack of financial resources and greenwashing by private firms. Greenwashing is defined (Merriam-Webster) as “the act or practice of making a product, policy, activity, etc. appear to be more environmentally friendly or less environmentally damaging than it really is.” The Cambridge researchers concluded, “so far (efforts by corporations toward SDGs) have been largely superficial – often used to support their reputations through greenwashing and social washing rather than meaningful attempts to make positive social change.”

                The World Economic Forum’s Council for Inclusive Capitalism was inspired by Pope Francis, who stated, “business is a noble vocation, directed to producing wealth and improving our world” in Laudato Si. The Council holds the perspective that “capitalism can rise to meet the call for shared prosperity and sustainable growth. This will require challenging investors, businesses and ourselves to lead with integrity and vision.” A significant question is whether the world’s wealthiest firms will share their prosperity or continue with “superficial” commitments?

Julie Peller, Ph.D., is an environmental chemist (Professor of Chemistry at Valparaiso University). She has been writing a weekly column called The Green Junction for the past seven years and is helping move the call of Laudato Si to action. Her research interests include advanced oxidation for aqueous solutions, water quality analyses, emerging contaminants, air quality analyses, challenges along the Lake Michigan shoreline (such as Cladophora, water, and sediment contaminants), and student and citizen participation in environmental work.