The private sector has a key role to play in driving sustainable development. On the one hand, private-sector actors are well placed to develop and promote innovative solutions to development and environmental challenges. On the other hand, taken together as a sector, those actors have an unparalleled reach and capacity to see those solutions widely implemented in partnership with government, civil society and other stakeholders. These make the private sector a key partner in achieving the 2030 Agenda for Sustainable Development, across challenges including climate change, biodiversity loss, land degradation, and chemical and waste management. Micro, small and medium enterprises (MSMEs), including those led by local communities, account for 90 percent of businesses and more than 50 percent of employment globally. As such the sector provides an opportunity for innovative, inclusive and sustainable economic development.