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Sustainable Development Goal 9: Industry, Innovation and Growth
Ensuring the business world can lead the way towards the UN's Sustainable Development Goals.
In an effort to improve the wellbeing of all nations in the world, the United Nations developed the Sustainable Development Goals (SDGs). Once the goals were laid out, the question became how the world can work to achieve them.
For economics professor Talat Genc, the answer starts with identifying how the goals are relevant to business and how they can provide value in the business world. Genc's SSHRC funded research focuses on how the supply chain can be improved by implementing the UN's sustainable goals.
“When firms and consumers implement these sustainable development goals, the supply chain can be improved. Firms can increase their profits while consumers receive superior products and financial rebates.”
We need innovation
In order to meet the sustainable goals, it is important that consumers and institutions have the means to achieve them. For Genc, that's where the business industry can lead the way.
Without innovative products and solutions, the world cannot achieve the sustainable goals. The aim of Genc's research is to demonstrate the value of investing in sustainable innovations so that businesses, consumers and institutions are better equipped to achieve the SDGs.
"Sustainable innovations can increase profits in two ways. Through these investments, firms can discover process innovations that drive costs down. The other benefit is that because there is a demand for green products, producers can ask for a higher price for their products."