Business

Asia stands to create 230m jobs by 2030

Asian companies are well-placed to reap some of the trillions of dollars of opportunities opened up by adopting more sustainable business models, a new report says.

Businesses in the region could unlock new market opportunities worth US$5 trillion (S$6.9 trillion) and create 230 million jobs by 2030, by pursuing strategies in line with the United Nations' sustainable development goals, it found.

The report is from the UN Foundation-backed Business and Sustainable Development Commission (BSDC) - launched at the World EconomicForum in Davos last year.

The UN goals set out 17 targets to eliminate poverty, improve education and healthcare, create jobs and address climate change.

"Asia represents 40 per cent of the global value (at US$12 trillion), and nearly two-thirds of total jobs," said the commission.

Its report highlighted four key areas that will drive economic value creation.

The energy and minerals sector accounts for the lion's share of the value at US$1.9 trillion, followed by city infrastructure development at US$1.5 trillion, food and agriculture at US$1 trillion, and health and well-being at US$670 billion. -THE STRAITS TIMES

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