ISO President Dr. Sung Hwan Cho, 

ISO Secretary-General Sergio Mujica, 

Distinguished Guests, 

Ladies and Gentlemen,

Buenos tardes. 

It's an honour to be here in Cartagena. With its centuries-old walls and modern skyline, Cartagena is a city where history meets progress. And just as the city bridges the past and the future, we’re here to bridge the gap between ambition and action—between the global goals we've set and the concrete steps needed to achieve them. 

This brings us to a significant moment in our shared journey. ISO’s Annual Meeting today coincides with the launch of the ISO/UNDP Guidelines for the Sustainable Development Goals—the first major outcome of our strategic partnership. 

However, it isn’t just about launching new guidelines, which will lead to a set of standards. It’s about charting a course towards the future where sustainable development is no longer just an aspiration, but a way to realize the hope inherent in the SDGs. 

Let’s take a moment to reflect on the path that brought us here. In 2015, all your countries, the world came together to adopt the 2030 Agenda for Sustainable Development. It was an ambitious plan. Yet, to date, less than 17% of the targets set under the SDGs are on track to being achieved globally by 2030. This stark reality is a call for urgent and intensified action.

As the steward of the SDGs, UNDP recognized from the start that achieving them would require more than just governmental action. It would demand a new level of collaboration, innovation, and commitment from every sector of society—like the strategic partnership we established with you, ISO. 

Now, almost a decade later, we find ourselves at a critical juncture. We're also facing challenges unlike any we've seen before. 

For instance, the effects of climate change are here, shaking the foundations of our daily life and economies. Every hour, the global economy loses $16 million dollars to climate impacts. Let that sink in. $16 million dollars. Every hour, wiped out of the economy. 

Climate change is just one issue of a larger web of challenges—including rising inequality and a global pandemic touching every corner of our world. These crises have made one thing clear: we are more interconnected than ever before. And in this interconnected world, the only way forward is together.

That is where our partnership becomes so vital, embodying the very essence of SDG 17 - Partnerships for the Goals. By combining the ISO's expertise in setting global standards with UNDP's deep knowledge of development and country-level challenges—as well as our influence with governments and stakeholders—we've created something truly powerful; groundbreaking guidelines, the first ever explicitly aligned with the SDGs. 

They represent a key step forward in embedding sustainable development into the DNA of global business operations. 

When organizations weave compliance and reporting into a broader sustainability and impact management framework, they don’t just tick boxes—they unlock opportunities. They manage their impacts more effectively, and they drive meaningful change. 

This approach goes beyond simply meeting obligations; it empowers organizations to rise above them. It fosters a strategic, proactive, and holistic vision of sustainability—one that benefits both the organization and the world we share.

We trust that these guidelines will set a new benchmark, leading to the development of future ISO/UNDP management standards that align with the SDGs—building on the foundation of UNDP’s impact work and relevant ISO standards.

While recent standards like those developed by the International Sustainability Standards Board focus on providing a global baseline for sustainability disclosures, our guidelines complement these efforts by focusing on how businesses organize and operate. Management standards lead to better disclosures, and that is unquestionable.

Together, these approaches ensure that sustainability is not only reported but also deeply integrated into every aspect of business strategy and execution. Moreover, these standards will serve as a robust foundation for documenting progress and providing assurance to key stakeholders. 

Ladies and Gentlemen, 

Colleagues,

This is just the start of what I hope will be a ripple effect, driving sustainability across all sectors.

Close your eyes. Imagine the impact if every organization—from small businesses to multinationals—used these guidelines to shape their strategies and operations. It’s about fundamentally reshaping business, investments, and how we measure success.

This brings me to a critical point—why we need to do this. Because the role of private finance in achieving the SDGs is essential. To close the global financing gap and realize the SDGs, over $4 trillion dollars are needed, every year between now and 2030. That’s a lot of money. But is it? It’s actually just 1% of global wealth. One percent. That's all it would take to change the world. [inaudible]

This is where the ISO/UNDP guidelines play a crucial role. 

By providing clear, actionable guidelines, we are creating a common language for sustainability that speaks directly to investors, businesses, and financial institutions. This shared framework lays the groundwork for increased private capital flows towards sustainable projects and initiatives, offering the private sector a competitive advantage necessary for survival in the world that is coming.

Consider this: when investors have a clear framework for assessing the sustainability impact of their investments, it becomes easier to direct capital towards projects that not only offer financial returns but also contribute to the SDGs. When businesses have a roadmap for integrating sustainability into their core operations, it becomes possible to create long-term value while addressing global challenges.

So, what kind of world do we want? One where sustainability is an afterthought, or one where it is the foundation of everything we do? I know which one I want. These guidelines challenge us to choose the latter. They ask us to rethink. To reimagine. To reshape our future.

To do so, we need to clearly articulate to the private sector that profitability and sustainability are not mutually exclusive. The private sector needs to make a profit, which is essential for achieving the SDGs. And embracing sustainability is the key to ensuring long-term profitability in a rapidly changing world.

In a world where consumers and investors are increasingly demanding sustainable practices, and where talent—the workforce of the future, especially Gen Z—chooses to work for companies that take sustainability seriously, aligning with the SDGs isn’t just the right thing to do, it’s smart business. 

The market is moving in this direction, and the companies that embrace this vision will thrive, while those that don’t will be left behind. If we want a world where business can continue to flourish, sustainability must be at the core of operations.

As we move forward, let’s not underestimate the challenges. Implementing these guidelines will require effort, resources, and a desire to change. There will be obstacles, particularly as we confront greenwashing. For instance, a recent European Commission study found that nearly 40% of sustainability claims made by companies could be misleading, undermining trust and slowing real progress. 

But remember why we are doing this. Remember the world we are trying to create: a world where valuing people and planet is on par with profit—a world where sustainability and long-term profitability go hand in hand. Simply put, a world of greater prosperity for all. 

Before I conclude, let me just say this: When we leave Cartagena, we will carry with us not just the guidelines, but a renewed sense of shared purpose. We've made a strong start, and now is the time to build on this foundation.

To ISO, I extend our deepest gratitude for your partnership. You welcomed UNDP, you welcomed us as a partner to do something. Our journey is reaching an exciting new phase—the beginning of our most impactful work yet. The real work starts now, and it starts with each of us committed to this partnership and our common goals.

Together, let’s keep the momentum and transform these guidelines into global action and swiftly advance to the next phase of our partnership.

Ladies and Gentlemen,

Every collective action counts. 

Every shared choice matters. 

Every step we take together builds a better world.

Thank you very much. Muchas gracias.