In its resolution 70/224, the General Assembly outlined recommendations for enhancing cooperation between the United Nations and the private sector, recognizing that achieving the 2030 Agenda for Sustainable Development would require greater engagement of business. Already three years into the journey to achieve the 2030 Agenda, the United Nations must urgently rise to the challenge of unlocking the full potential of collaboration with the private sector and other partners. There is strong consensus throughout the United Nations system that achieving the Sustainable Development Goals requires a significant scaling up of alliances and partnerships, in particular with the private sector. It is also widely acknowledged that greater efforts and stronger system-wide coordination are required to achieve that objective. Throughout the United Nations system, partnership approaches are evolving towards deeper and more strategic collaboration, focusing on innovation, scalability and impact. To sustain and accelerate those positive developments, there is a need to pivot further towards partnerships that more effectively leverage private sector resources and expertise. The United Nations is also seeking to serve increasingly as a catalyst for a new wave of financing and innovation needed to achieve the Sustainable Development Goals, constituting an important evolution in and transformation of its role in the years ahead. In support of such a transformation, the present report outlines recommendations to facilitate a stronger system-wide approach to partnerships that will enhance the impact of collaboration with the private sector and accelerate progress in realizing the 2030 Agenda.