“European Economic Experts Forum”

Ladies and Gentlemen,

Today’s teenagers and young adults make up one-fourth of humanity. Your 1.8-billion-strong cohort is the most well-educated, connected and globally-minded generation in human history. Your boundless creativity, enthusiasm and talent never fail to amaze me, renewing my conviction that for all the problems dominating headlines, there is reason to be hopeful about the future. I would like to thank the Junior Chamber International for giving me the opportunity to renew this conviction with you today.

In spite of everything that today’s youths can offer, your voices are not often heard in the halls of power and your talents are too often left out of the marketplace. Today, the global youth unemployment rate stands at 13.1 percent, three times the rate for adults. The situation is particularly troubling in developing economies, where 20 percent of all youths are not in education, employment or training. This is not only a tragic waste of talent, but a threat to peace and development. As youth unemployment increased after the 2008 financial crisis, so did social unrest, which grew by 10 percent between 2008 and 2014. The instability roiling the Middle East today is in part a warning of what can happen when a generation languishes without opportunities. Remember that the Tunisian Revolution – and the wider Arab Spring – began in 2010 when a 26-year-old self-immolated, shouting “How do you expect me to make a living?”

This reality brings me to the nexus between youth and business and its vital role in promoting sustainable development. The financial and social benefits of work empower youths, removing them from the grip of poverty and the temptation of extremism. Youth entrepreneurship is particularly powerful as it offers young adults the chance to forge their own destinies. By creating opportunities for themselves and others, youth entrepreneurs will play a vital role as all of us come together to pursue sustainable development.

Because for the first time in human history we have a collective plan for our future: the Sustainable Development Goals. Adopted by our Heads of State in 2015 with the engagement of civil society, business and academia, these 17 ambitious goals target everything from poverty to the rule of law. Youth are at the centre of the Agenda and were part of the ten million people who helped identify its priorities through the unprecedented MyWorld survey. The SDGs have 20 youth-specific targets spread over six key goals: hunger, education, gender equality, decent work, inequality and climate change.

The SDGs matter for three reasons: One, they’re universal. The difference between developed and developing countries is moot: we’re all developing and poverty is everywhere. Two, they leave no one behind. Even the poorest among us is a potential consumer, innovator, entrepreneur and investor. We cannot afford to leave that individual behind. Three, they are everyone’s responsibility. The SDGs are our best hope to make the world safer, fairer, and more sustainable, but they will fail if we cannot mobilize the private sector, including young entrepreneurs, to help with the implementation.

Why? Simply put, the private sector is uniquely suited to generate the capital, jobs and technology needed to achieve the SDGs. Consider that, in 2015, the estimated stock of financial assets worldwide stood at 290 trillion dollars, far outweighing the estimated 2.4 trillion in additional annual investments it would take to reach the SDGs. While the public sector has a vital part to play in funding development, it simply cannot match the scale of the private sector.

It is not only through investments that businesses – at every level – can play a major role. In its 2016 survey of 25 developed and developing countries, the research group Ipsos Public Affairs found that unemployment, poverty and corruption were the three topics that most worried respondents. A perception that elites have failed to address – or are complicit – in these factors is contributing to a dangerous trust deficit and the rise of populism. This sentiment is shared by many youths as was shown in the first round of the 2017 French presidential election, when over half of young voters cast ballots for radical candidates. In this environment, business as usual will only lead to greater instability and protectionism, damaging business prospects and making the world a smaller, poorer and more uncertain place.

Sustainability is more than a moral or political imperative, it makes good business sense. Early movers on the SDGs are unlocking rich rewards. Today, some 836 million people still live in extreme poverty, while conflict, corruption and inefficient services whittle away the incomes of millions more and deter investment. Imagine the opportunities at hand if we could free these would-be consumers, entrepreneurs and innovators from the shackles of poverty. The 2017 Better Business Better World report estimates that achieving the SDGs would open up at least 12 trillion dollars in market opportunities. Those that align with the Global Goals now will gain advantage, compared to those who will need to catch up later.

Young entrepreneurs are better suited than most to take advantage of the opportunities on offer with the SDGs. They bring to bear fresh thinking, innovation and a digital native’s ease with new technologies. Last year, the United Nations Secretary-General’s Envoy on Youth selected 17 people under the age of 30 who demonstrated leadership on the SDGs. They prove that taking up the goals not only helps heal the world, it generates lucrative businesses, successful NGOs and impactful activist movements. Allow me to share three of their stories.

Rita Kimani, from Kenya, cofounded FarmDrive, a social enterprise that has connected over 400 smallholder farmers to credit and financial markets for the first time. For his part, Rainier Mallol, from the Dominican Republic, is the cofounder of AIME, an epidemiology company that uses artificial intelligence and data analysis to predict major disease outbreaks. It has already run successful pilot projects in Brazil, Malaysia and the Philippines. Finally, Vincent Loka, from Indonesia, co-founded WaterROAM, a social enterprise developing water filtration systems for disaster-hit areas. In 2015 alone, their systems were deployed to Myanmar, Nepal and Vanuatu.

Sustainability can also facilitate access to markets and funding as Member States incorporate the SDGs into their regulations. Over 60 States are already incorporating the goals into their legislation. A firm that adopts the SDGs will find it easier to gain access to markets. An NGO will benefit from easier access to funding and support.

Finally, a world in which sustainable development fails is one not fit for business. It is a world of ever greater insurance premiums, volatile commodity markets, costly disasters and the attendant political and financial uncertainties. A study by CitiGroup found that – if unaddressed – climate change alone could shave off 72 trillion dollars from the world’s GDP. In 2016, the CEO of Unilever said that natural disasters linked to climate change cost his firm nearly 330 million dollars a year. Faced with this reality, it is simply sound business to invest now in the SDGs.

Many established companies already recognize the value of sustainable development. Nearly 9,400 firms in 162 countries have signed up to the United Nations Global Compact on sustainable business behavior. Others – such as Dannon, Procter & Gamble and General Electric – have integrated the SDGs into their operations to the benefit of both stockholders and stakeholders. Thanks to private sector engagement, the United States may achieve its targets under the Paris Accord on climate change even if its government withdraws. Apple and Google are close to becoming 100 percent renewable, while ImBev, Walmart and others are following suit. Tesla has recently passed GM in stock value, while coal companies in Kentucky are investing in solar energy.

Ladies and gentlemen,

Allow me to mention a theme that impacts each and every one of the SDGs: gender equality. Progress towards equality is slow and if current trends continue, we will need to wait until the end of the 21st century to achieve gender parity. This is simply unacceptable and it threatens our ability to reach the SDGs. Increasing opportunities for women and girls in terms of education, political leadership, access to land and financial credits are a few of the fundamental measures that will have to be applied at a global scale if we want to live up to our commitments.

Simply put, sustainable development will fail if we leave half of humanity behind. Our new Secretary-General, Mr. António Guterres, recognizes this reality and has made gender equality a priority, appointing several women to top posts in his cabinet, incorporating gender equality across our work and tasking a Gender Parity Task Force to accelerate progress towards parity across the system. The Secretary-General has also recently joined the International Gender Champions Initiative, which I launched in Geneva in 2015 and is now spreading to other locations. This is a network of decision-makers who lead by example through concrete actions that bring genuine change both in organizational culture and in programming. All Gender Champions commit to undertake three concrete measurable actions in the calendar year to advance gender equality. One common action is to sign up to the Gender Parity Panel Pledge and aim for more inclusive panels. The additional two commitments can be in the executive management of the organization or in its programmatic work. One of my commitments was, for example, to promulgate a gender policy at UN Geneva, and I fulfilled it last year. Over 150 Champions – Permanent Representatives, local authorities, heads of international organizations, NGOs, academic institutions and private companies – have now joined the initiative in Geneva, which has already ensured that women’s voices are heard in panels held in that city.

So what can you do for sustainable development and gender equality? First, remember that each of you can play a role in promoting change as citizens, activists and leaders. Spread knowledge of the SDGs and incorporate sustainability and gender perspectives in your initiatives. Second, reach out to one another to share ideas. The three youth initiatives I mentioned earlier are all the results of partnerships. Third, do not hesitate to engage with the United Nations and its partner agencies. Our collective efforts to reach the SDGs will only succeed if your challenges are addressed, your contributions recognized and your perspectives included in decision-making. Doing this requires strong partnerships between young people and all stakeholders, including those in Geneva.

Why Geneva? Because it is the global operational hub on SDGs. This status is the product of the close cohabitation in the Greater Lake Geneva region of about 100 international organizations, more than 400 NGOs, a vibrant private sector, world class academic institutions and representatives of 178 Member States. As is the case in "Silicon Valley" with respect to advanced technologies, this unique concentration of human capital and institutional know-how creates a conducive space for reflection, innovation, and collaboration. Geneva is about more than policymaking, it is a place where bridges are built and lasting partnerships formed, including with the private sector. Just last week, for example, the Office of the High Commissioner for Human Rights in Geneva signed a landmark five-year partnership with Microsoft to bring advanced technology to predict, analyze and respond to human rights violations.

When it comes to sustainability, we may all have different incentives but we have a common goal. Ultimately, the coming decades will be written by those with the creativity, dedication and idealism to pursue meaningful change in the world. These qualities are found in droves among youth. Each of you has a role to play in promoting change as entrepreneurs, leaders, and citizens. Never forget it.

Thank you.