The private sector has been mobilizing to achieve the Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. But corporations are also in constant pursuit of returning shareholder value, and need to find ways that SDG-aligned strategies can give a true measure of that value. Trucost’s SDG Evaluation Tool could help.
Moving sectors is a gargantuan task yet the UN Sustainable Development Goals (SDGs) may provide the framework to do just that. As sector and industry groups have developed reporting frameworks that assist in measuring ESG performance, the boon to all is the realization that these goals could create over USD 12 billion per year in business value. Think energy and resource efficiency and waste management, not to mention human impacts that will improve quality of life.
Business has a significant role to play. The rewards can go well beyond innovation, new markets and business models. Before the advent of the Internet, commerce was largely local. Companies that dealt with international goods spent a lot of capital in transportation and storage. Few would have imagined the drone enabled convenient and instant shopping experience that many in the developed world enjoy. However, this convenience comes at a cost, one that is well described by the 17 goals.
Friendly Competition Can Move Mountains
Like many of the tools we’ve been writing about, the Trucost tool helps companies determine the relevance of SDGs, assignment of risk, individual and overall scorecards and gap assessment capability. Possibly the most important key to tracking progress is the ability to compare the sector and competitor specific performance. There’s nothing like a little friendly competition to spur business to move mountains if they choose to.
Some companies are just starting to grapple with what to do and how to address the SDGs. Others need to move on from their current strategies. If your company needs a journey partner, please give us a call. We’re here to help.
Read the full article at: www.sustainablebrands.com