The Negative Impact of Corruption on Sustainable Development
Critical analysis
Additionally, corruption has the potential to undermine the fundamental foundations of democratic institutions, in addition to distorting electoral processes and weakening the rule of law and law enforcement. Many people, notably the poor, women, and members of minority groups, find themselves in the situation of having to pay bribes in order to gain access to fundamental government services.
Since foreign direct investment is prohibited, economic progress has been hampered, and small businesses have found it difficult to overcome the “start-up expenses” that have been incurred as a result of corrupt practices.
There are 17 Sustainable Development Goals (SDGs) in the new development agenda, which was created at a special summit of the United Nations General Assembly in New York in September 2015, and all of which aspire to guarantee that everyone lives in dignity by 2030 by reducing poverty and inequality. Among the goals of the Sustainable Development Goals is the promotion of peaceful and inclusive societies in order to achieve sustainable development. Other goals include the provision of equal access to justice for all and the establishment of effective, accountable, and inclusive institutions at all levels of government. In order to attain this goal, it is vital to dramatically eliminate corruption and bribery in all of its manifestations, including political corruption.
Realizing this cross-cutting goal is important to the realization of the whole Post-2015 Development Agenda, which is now underway. Yury Fedotov, Director-General of the United Nations Office on Drugs and Crime, made the following remarks: “Grasping a once-in-a-generation opportunity to combat poverty, promote health, and advance development, the United Nations, its member states, and civil society have joined forces to make it happen. The achievement of these objectives, however, is hampered by impediments such as illicit drugs, criminal activity, corruption, and terrorism, among others. Such hazards undermine social and economic progress as well as human rights in countries where the rule of law is weak and criminal justice is inefficient, and they thrive in situations where the rule of law is weak and criminal justice is inefficient.”
A huge financial and social cost is incurred as a result of corruption. It is estimated that corruption leads in a 25 percent reduction in the continent’s gross domestic product, according to the African Union (almost 150 billion dollars). Corruption may be reduced and the rule of law strengthened, which can result in a 400 percent increase in national GDP for countries that take these steps.
The general quality of government spending, services, and legislation, among other factors, has been found to be negatively correlated with corruption in a number of studies, among other things. According to the United Nations Office on Drugs and Crime, corruption, bribery, embezzlement, and tax evasion cost developing countries a total of US $1.26 trillion a year in lost productivity. Additionally, corruption increases the price of water infrastructure by as much as 40%, resulting in an additional US$12 billion per year in additional expenditures to provide clean drinking water and sanitation around the world. Corruption has a negative impact on the environment as well.
Importance of Biodiversity for Long-Term Corporate Viability
Current status
Everyone has the capacity to become a victim of corruption at some point in time. When there is corruption in the supply chain, it is possible to notice a detrimental impact on the supply chain throughout the whole chain of custody. Corruption has a negative impact on economic growth, innovation, and long-term development.
Several factors have been identified as critical to the long-term viability of the international community’s efforts to combat corruption, including maintaining economic stability and growth, maintaining social security, protecting human rights, alleviating poverty, protecting the environment for future generations, and combating serious and organized crime on a global scale, among others. To effectively prevent and combat corruption, it is necessary to design a comprehensive, multidisciplinary approach that takes into account the global scope of the challenges involved, as well as the ties to the Sustainable Development Goals. Members of the general public, representatives from government and industry, members of civil society organizations, and members of various segments of society, among other groups, are all taking part in this initiative.
With the adoption of the United Nations Convention against Corruption, the world now has a formidable instrument for combating this worldwide affliction. Let us take use of the far-reaching provisions of the Convention to give a boost to development, raise countries out of poverty, and establish fairer, more equitable societies across the world.
Critical analysis
Biodiversity is a critical component of long-term corporate viability, and it cannot be ignored. A healthy ecosystem is required for businesses to use genes, species, and ecosystem services as critical inputs into their production processes. A healthy ecosystem is also required for businesses to treat and dissipate waste, maintain soil and water quality, and assist in controlling the composition of air. Agricultural businesses, for example, rely heavily on the diverse genetic make-up of wild relatives of important food crops as a resource for ensuring crop resilience to disease and pests.
According to the World Economic Forum, the degradation of natural ecosystems threatens to disrupt many critical supply chains because they are responsible for more than half of the world’s GDP. Natural pollinators are disappearing, and food producers, for example, may face greater prices as a result. A loss in natural regulating functions and the accompanying increased frequency of significant disturbances, such as floods, would have an economic impact that goes well beyond businesses that rely on natural inputs for their production.
Government rules relating to biodiversity are increasing the pressure on businesses, and it is possible that these restrictions could result in considerable extra expenses in the future.
At the same time, business and industry have the potential to have significant detrimental consequences on biological resources (see below). However, while the private sector is a contributing factor to the issue, it is also a contributing factor to the solution. The resources and influence of the business sector provide significant opportunity for making novel and successful contributions to conservation efforts. Two prominent worldwide efforts demonstrate the importance of the private sector in achieving global goals.
The Economic and Social Costs of Corruption
As part of its three main objectives, the Convention on Biological Diversity (CBD), which is the most important international agreement on biodiversity, emphasizes the role played by the private sector in meeting those objectives through multi-stakeholder partnerships and industry-driven initiatives. the protection and sustainable use of biological diversity’s constituent parts, and a fair and equal distribution of the benefits resulting from their use are the goals of the Convention on Biological Diversity (CBD).
While business and biodiversity may appear to be unusual bedfellows, businesses are reliant on biodiversity to function well. In addition, while the extent of reliance differs between different sectors, the loss of biodiversity is a serious concern for everyone. For example, failing to include biodiversity might result in lower food supplies, interrupted supply networks, and economic loss as a result of floods or fires, and that’s only touching the surface of the consequences.
Enterprises are well positioned to take the lead in the worldwide push to better safeguard the environment. They have advantages over other stakeholders in terms of money, autonomy, technology, and the ability to innovate.
Current Status
2020 has been named “the environmental super year.” Most of us are familiar with the subject of climate change and the urgent need to decrease global warming. This year, environmental experts are focusing their attention on a different topic: biodiversity.
The time has come to invest in smart, environmentally conscious business strategies so that firms are not forced to play catch-up once it is too late.
Obtaining a baseline evaluation of your company’s relationship with the environment is the first step in gaining a deeper understanding of both the affects companies have on biodiversity and the ways in which the business world is reliant on biodiversity. This frequently entails mapping out the functioning and sourcing processes of a company or its suppliers. Then you must do an evaluation of the value they add to your company. The need to secure and ensure the quantity and quality of materials coming from supply chains makes the case for a significant investment in policies and practices that are beneficial to the environment, local communities, and your bottom line — nature-smart investment is a win-win-win situation for everyone involved.
Conservation International and partners are creating a multi-step framework to assist enterprises with site-based biodiversity indicators. This framework will allow firms to better assess and manage their direct effect on biodiversity. Because it captures changes on the ground in the state of, pressures on, and support for biodiversity at the site-level as opposed to other indicators, it may be aggregated into an indicator of biodiversity performance at the organizational level.
Critical Analysis
Climate change poses a serious threat to people’s lives and livelihoods in many countries. Because these dangers can never be eliminated, governments must take strong action to assist businesses and individuals in dealing with them. According to a new paper, The Adaptation Principles: A Guide for Designing Strategies for Climate Change Adaptation and Resilience, doing so necessitates advance planning and proactive actions that not only decrease climate risk but also accelerate growth and cut poverty. Adaptation must be an afterthought in the development process. It’s possible for organizations to both stimulate economic growth and lessen their exposure to the effects of climate change by including it into their policy thinking from the start.
Threats Posed by the Degradation of Natural Ecosystems to Critical Supply Chains
There are a number of methods in which organizations can assist in the development of climate change resilience. Set up strong foundations through quick and inclusive growth As a result of these factors, people in low- and middle-income countries are more susceptible to the effects of climate change than those in higher- and middle-income countries. Secondarily, through assisting individuals and businesses in their efforts to do their part. In order to help families and businesses adjust to the changing environment, it’s essential to help them overcome hurdles, such as a lack of information and financing, as well as behavioral biases and imperfections in the market. Information on climate threats may be made widely available by governments, who can also make clear who is responsible for what, encourage technological innovation, and make sure that everyone has access to funding, particularly for solutions with significant up-front costs. Additionally, they will need to help the poorest people, who can’t afford to invest in climate change adaptation but are the most at risk.
Thirdly Protect important infrastructure and revise land use plans. Organizations must also play a role in maintaining public investments, assets, and services in addition to providing direct support to people and enterprises. A country’s incremental cost to create new infrastructure assets’ resilience is only 3% of overall investments if it has access to the correct data, risk models, and decision-making techniques. Planned investments in housing and productive assets are hugely influenced by urban and land use plans, which fall within the purview of the public sector, and they must be updated to account for changing long-term climate threats.
Another way is to assist individuals and businesses in recovering more quickly and effectively. There is no such thing as a risk-free environment. In the event of a disaster, organizations must devise plans to ensure that individuals and businesses can cope without long-term impacts and recover fast. Damage and economic losses can be minimized by implementing improved hydromet data, early warning and emergency management systems.
Lastly Taking care of the big picture. It’s difficult enough to deal with the effects of global warming on a single industry. Strategic planning at the highest levels is needed to deal with the effects of climate change on all sectors simultaneously. As a result of a wide range of repercussions, from flooding to changes in ecosystems, climate change will have a significant impact on the financial position and tax collections. The trade balance and capital flows of a country can be impacted by changes in significant sectors (particularly exporting ones). In addition to existing contingent liabilities and current debt levels, more strain on public finances will be created by the need to fund adaptation and resilience. New risks for macroeconomic stability, state budgets and debt sustainability, and the broader financial sector may arise from this mix of circumstances
Current Status
Throughout the last few decades, our organization has made significant strides in decreasing poverty and fostering economic growth. Global economic and climate change consequences of the COVID-19 pandemic are causing the organization to face new challenges: shocks not only threaten further progress but can erase well achieved gains of the past.
It is projected that the organization would face significant problems in the future decades as a result of changing climatic conditions.
Implementation of adaptive methods is necessary. Methods such as economic analysis and budget tagging, for example, can aid in the selection of the most critical initiatives and ensure that expenditure is in line with expectations. For governments to track their progress toward increased resilience, identify areas where they are behind, and prioritize successful actions, the 111 indicators offered in the report are also useful. The COVID-19 epidemic and the ensuing economic crisis have altered the development landscape in all countries, and this has implications for the establishment of an adaptation and resilience strategy.
Critical analysis
The trash hierarchy categorizes garbage management systems into groups depending on which produces the best environmental outcome while also taking the material’s lifespan into consideration, with the most environmentally beneficial ways being placed first. It is possible to evaluate the environmental impact of a substance across its entire life cycle, from the point of manufacturing to the point of disposal.
It is feasible to remove a considerable part of food waste by employing waste prevention strategies, resulting in lower environmental effects across the food supply chain as well as the food waste treatment process. Changing the purchasing, storage, and consumption behaviors of businesses and households is the most effective way to reduce food waste, and there is a considerable body of research and advice available in this area. According to the Environmental Protection Agency, businesses that produce, retail, distribute, or wholesale food are required to separate their food waste from other rubbish, and local governments are required to provide procedures for separate food waste collection from households. In addition to making it easier to recycle and recover food waste, it will also help to reduce the negative environmental impact of food waste.
Metal recycling helps to reduce the negative environmental impact of metal manufacturing on the environment (see the section on “prevention” above). Recycling scrap metals is reliant on the application for which the metal is intended to be utilized or the product of which the metal is a component. Recycling of metal waste from household WEEE and end of life automobiles is possible and there is a likelihood that this will occur. It is possible to pursue a range of career paths in the C&I business, which involves the reconditioning of various goods such as drums, containers, machinery, and other equipment.
Recycling paper and card is considerably more environmentally benign than allowing them to biodegrade in landfills when it comes to paper and card waste. The present figures indicate that recycling is preferable, even if the recovered paper or card is sent to China for further recycling. The benefits of recycling paper and card vary depending on the grade; the higher the quality of the paper or card, the greater the benefit of recycling. The following table summarizes the benefits of recycling paper and card. The European List of Standard Grades of Recovered Paper and Board (EN 643 European List of Standard Grades of Recovered Paper and Board) outlines the different grades of recovered paper and card that may be found in recycled paper and card. Likewise, local governments and waste management companies should ensure that their collection systems meet the high quality criteria of the markets to which they are promoting their goods.
Current Status
According to estimates from the World Resources Institute, waste management adds just a little percentage to global greenhouse gas (GHG) emissions, accounting for about 3-5 percent of total anthropogenic emissions in 2005, according to the World Resources Institute. However, waste management is in a unique position to make the shift from being a minor source of global emissions to becoming a significant source of carbon savings in the near future. Even while waste treatment and disposal produce some emissions, albeit at extremely low levels, the avoidance and recovery of wastes reduce the amount of emissions released into the atmosphere in all other sectors of the economy.
It is expected that climate change will have a greater impact on the environment and waste management infrastructure, and there are a number of threats that should not be underestimated. The slow breakdown of biodegradable materials in landfills, along with poor flushing of leachate through the material stored inside them, results in a significant long-term contamination risk. Current infrastructure may become increasingly vulnerable to floods as the frequency of extreme weather events increases in frequency and intensity. It is essential to comprehend the ramifications of such tragedies and to put measures in place to ensure that the country’s resilience to such disasters is adequate in the future. The risk of waste and public health repercussions following big catastrophic occurrences should not be overlooked in the aftermath of such events. There is a compelling need to translate already-known knowledge into efficient adaption procedures as soon as possible. It is possible that those in charge of infrastructure planning and building in the future will have to take into consideration both floods and sea-level rise when determining where and how to build infrastructure. It is critical that hazardous waste infrastructure is not positioned in flood-prone locations, particularly in urban areas. Concerning the repercussions of climate change adaptation on compliance management and how this may be represented in its operations, as well as the obligation to cut emissions through permits, it is vital to address these issues.
Critical Analysis
Several large-scale product recalls have occurred during the past decade in a variety of industries due to supply-chain vulnerabilities and disruptions that were wholly unanticipated, from pharmaceuticals to consumer goods to electronics and automobiles. Supplier ecosystem problems have led to cyber security breaches and the resultant loss of critical intellectual property for numerous public and private sector enterprises.
It may be said that all of these problems have one thing in common: a lack of proper supply-chain risk management tools and procedures. Newer concerns, such as cyber-ransom attempts, are taking the place of more traditional supplier risks, such as bankruptcy.
Now, even highly sensitive things like military systems may contain raw materials and circuit boards from countries where the manufacturer of the system had no idea that a supply chain existed. The number of possible failure sites has increased, as has the level of risk as a result of complexity.
Over time, risks that have been analyzed and quantified can be monitored. In the event that a supplier goes bankrupt, this is a well-known danger. Looking at a supplier’s financial history and assessing what products and markets they could potentially disrupt can help you determine how likely this is to happen in the real world. Solutions that do an outside-in audit of a company’s IT infrastructure make it easier to quantify novel threats, such as supply chain cybersecurity vulnerabilities.
Developing a risk management framework for a company should involve assembling a cross-functional team to catalog all of the threats the company faces, as well as determining which metrics are appropriate for risk assessment, as well as defining “what good looks like” for each metric and how to track and monitor these metrics thoroughly. Additionally, this team is capable of spotting potentially dangerous situations that are hard to explain or grasp (e.g., tiers of the supply chain where no visibility exists). Using this technology, it is possible to visualize the size and extent of previously unknown risks.
Unknown dangers are those that can’t be forecast. In your supply chain, there may be a dormant volcano or a cybersecurity vulnerability in the firmware of a critical electronic component that you have no idea about. This kind of event is unlikely to be predicted by even the most risk-averse of managers.
To preserve a competitive advantage, it is imperative to reduce and speed up the response time to unknown hazards. A competitive advantage can be gained by putting in place many lines of defense and creating a culture that encourages employees to take risks.
Current status
Achieving supply-base transparency is either extremely difficult or impossible. Multi-tier supply chains have made it possible for a single product to be made up of hundreds or thousands of separate suppliers. It can take a long time to discover all the vendors, from raw material suppliers to the final system’s builders.
Horror-inducing: The sheer enormity and scope of the hazards. Consequently, certain risks (such as the possibility of specific weather patterns or the frequency with which a supplier’s employee may be careless in terms of cybersecurity measures) cannot be identified, quantified and mitigated.
Progress is impeded by restrictions on proprietary information. Tier 1 or 2 suppliers’ supply chains in more complex products may be considered proprietary by customers or integrated manufacturers.
Rather than obsessing about the problem and the barriers it presents, we urge that organizations begin to address issues in an organized manner, recording and responding to recognized dangers while improving their resistance to any future unknown threats.
Critical Analysis
The ability of countries to collaborate makes it easier to ensure that development support reaches the appropriate recipient. Poorer nations may be able to mitigate the consequences of natural catastrophes with fewer resources than richer countries, for example, because of a lack of resources. Because of this, countries with greater financial resources will be obligated to provide financial assistance to poorer countries.
According to the World Bank, partnerships are also essential for the development of competence in developing nations. Training programs aimed at developing the knowledge, skills, or other resources that individuals and organizations will require in order to achieve their objectives are called capacity building programs. International assistance is critical for the development of skills in communities all around the world, but it is particularly critical in developing nations.
In order to give skills training to people who are most in need, it is necessary to establish ties with local groups. This makes it possible to contribute to the attainment of all 17 Sustainable Development Goals. These interactions, in the first instance, contribute to the possibility for human empowerment at the local level, which is critical. For a variety of causes, including international non-profits and governmental groups, we have pledged our support on the basis of our ethical principles.
Several years after the United Nations introduced unified objectives and targets for achieving sustainable development throughout the globe in 2015, the development community has expressed excitement and re-energized, but it has also expressed concern about the organization’s new direction. While the Global Goals are lofty in their aspirations, they also provide a significant impediment to further progress. Furthermore, we are working for a goal that is always shifting.. It is important to recognize that the Fourth Industrial Revolution, which is being fueled by huge technological discoveries and has the potential to dramatically transform the globe, is an important component of this development. It is possible that the consequences for the world’s poorest may be catastrophic, despite the fact that there will undoubtedly be significant new development, advantages, and opportunities as a result of this decision. It is likely that the goals we have set for ourselves, which are currently difficult to attain, will become much more difficult in the future.
Current Status
In 2015, world leaders formally launched the 2030 Agenda for Sustainable Development, with the objective of eradicating poverty by 2030 as a result of global cooperation. Seventeen high-level objectives were put forth in the Agenda for Sustainable Development, including poverty reduction, combating climate change, and eradicating inequalities, among others. With the Sustainable Development Goals (SDGs), which are essentially a call to action from the United Nations, it is aimed to make the world a better place for all people on the globe.
It is possible that the Sustainable Development Objective (SDG) 5.3 (Partnerships for the Goals) is the most significant of all the Sustainable Development Goals (SDGs) since its achievement is conditional on the achievement of all other goals, making it the most essential of all.
The creation of long-term, scalable, and revolutionary collaboration models that generate shared benefit will be a critical component of the initiative’s success. The fast transition projected by the Fourth Industrial Revolution will have a tremendous impact on many aspects of human existence, including economic, social, environmental, cultural, and political affairs, necessitating the development of new collaboration mechanisms. As a result, traditional divides between sectors are becoming increasingly blurred, with governments playing a less direct role in governance and industry and civil society taking on a more major role as a result of globalization. Economic instability throughout the world has produced new possibilities and obligations for people from all walks of life and from all walks of life. The feeling of common interests in attaining the sort of world envisaged by the United Nations’ Global Goals, notably Sustainable Development Goal 17, which calls for the establishment of partnerships to accomplish the Goals, is also growing stronger as time goes on.
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