Voluntary sustainability standards to acheive the SDG's

The UNCTAD report looks at how public procurement processes and trade policies can play a role in encouraging the adoption of voluntary sustainability standards (VSS), which in turn can help meet the SDG's.

Voluntary Sustainability Standards (VSS) for meeting the SDG's

The effectiveness of VSS to contribute to sustainable development depends partly on their degree of adoption by economic operators. In this respect, governments could play a significant role by integrating VSS into public procurement and trade policy. Public procurement represents, on average, 12% of gross domestic product (GDP) in countries of the Organisation for Economic Co-operation and Development (OECD), and up to 30% in developing countries.

Given the magnitude of such spending, in combination with the pressing need for sustainable production and consumption, sustainable public procurement has become imperative. In addition, trade policy is increasingly used to pursue non-trade objectives, including those related to sustainability.

© The Hinrich Foundation. See our website Terms and conditions for our copyright and reprint policy. All statements of fact and the views, conclusions and recommendations expressed in this publication are the sole responsibility of the author(s).