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Public-private partnerships key to sustainable growth

 

October 24, 2016

As cities around the world continue to experience unprecedented growth, so too does the need for cooperation between the public and private sectors.

“By 2050, city dwellers are expected to account for more than two-thirds of the world’s population. If our cities are to be sustainably developed … they will need to enable vital cooperation between the public and private sectors,” said Alice Charles, Lead, Urban Development, World Economic Forum.

Enter the New Urban Agenda.

During a recent global conference in Quito, Ecuador, the United Nations identified a number of objectives for cities looking to achieve sustainable growth over the next two decades.

From renewed political commitment to addressing poverty, the New Urban Agenda, highlights global priorities on urbanization.

For Joan Clos, executive director and Under Secretary-General, UN-Habitat, “The signing of the New Urban Agenda at the Habitat III conference is a unique opportunity to set out urban strategies that will integrate all facets of sustainable development to promote equity, welfare, shared prosperity and contribute to maximizing the benefits of good urbanization.”

So we have the strategies, but what about implementation?

The World Economic Forum has been working with the UN for years and tackle this issue.

In a new report, Harnessing Public-Private Cooperation to Deliver the New Urban Agenda, the Forum highlights the role of the private sector in the delivery of urban infrastructure. This includes policy-making, planning, design, operation and maintenance, and monitoring, as well as the financing of urban service delivery.

The report also recommends the following actions and policies to address the challenges and opportunities of urbanization:

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In the end, both sides of the partnership have a role to play. Both must adhere to new policies, strategies and more importantly, both must be open to change.

“The private sector and government must play their part to deliver on the objectives of the New Urban Agenda by prioritizing their actions based on a city’s unique context, immediate and long-term priorities and the created impact to achieve sustainable development,” said Hazem Galal, Global Leader, Cities and Local Government, PwC.

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Michael Sutherland-Shaw

Michael Sutherland-Shaw

Marketing Communications Specialist at FreeBalance
Michael works in the marketing and communications department following a career in journalism. Michael is currently learning Ruby on Rails and loves discovering new music.

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