Businesses are failing to work on the UN’s sustainable development goals (SDGs), according to two new surveys, despite being billed as having a key role to play in achieving the ambitious goals.

With an estimated investment gap of at least $3tn annually across the SDGs for the next 15 years, private sector involvement is critical if countries are to succeed. Yet fewer than half of global companies plan to engage with the goals, according to Ethical Corporation’s State of Responsible Business 2016 report, which surveyed 2,045 sustainability professionals globally (36% of whom worked for a company or a brand).

Meanwhile, a study from sustainability consultancy Corporate Citizenship found the lack of tangible business action on the SDGs is causing a trust problem among consumers, particularly so-called millennials. Findings showed that despite 81% of millennials believing business has a key role to play in achieving the SDGs, the majority of businesses are not yet acting.

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