Companies Need to Set More Ambitious Targets to Achieve Sustainable Development Goals by 2030, Report Shows

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With solely ten years left to achieve the Sustainable Growth Targets, firms must speed up from a long time of ambition to a Decade of Motion.

UNITED NATIONS, New York – At the moment, on the event of its 20th-anniversary Leaders Summit, the United Nations International Compact, in partnership with DNV GL, launched a brand new report wanting again on 20 years of company sustainability progress amongst its enterprise contributors. The UN Global Compact 20th-Anniversary Report: Uniting Business in the Decade of Action makes use of information from its annual survey of contributors supported by interviews with contributors from all over the world. A assessment on progress made in embedding the Ten Principles into their operations and contributing to the achievement of the UN Sustainable Development Goals (SDGs) was carried out as a part of the analysis.

Ten Rules of the UN International Compact.

The 20th-Anniversary Report reveals solely 39% of firms surveyed consider they’ve targets which are sufficiently formidable to fulfill the Sustainable Growth Targets by 2030. Lower than a 3rd think about their {industry} to be shifting quick sufficient to ship precedence SDGs. Whereas 84% of firms taking part within the UN International Compact are taking motion on SDGs, solely 46% are embedding them into their core enterprise and solely 37% are designing enterprise fashions that contribute to the SDGs.

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Progress is uneven throughout the SDGs, the report finds, with many firms selecting to give attention to Purpose 8: First rate Work and Financial Progress, Purpose 9: Trade, Innovation and Infrastructure, Purpose 12: Accountable Consumption and Manufacturing, Purpose 13: Local weather Motion, and Purpose 3: Good Well being and Nicely-being. In the meantime, much less traction has been made in advancing the socially-focused SDGs equivalent to decreased inequalities, gender equality, and peace, justice and robust establishments.

June 3, 2020: Black Lives Matter Protest in Washington D.C. Photograph: Koshu Kunii.

Different key findings from the analysis embody:

  • 61% of firms present services that contribute to the SDGs (up from 48% in 2019).
  • 57% of firms are measuring the influence of their very own operations regarding the SDGs however only a few prolong this to suppliers (13%), uncooked supplies (10%) and into product use (10%).
  • Solely 29% of firms publicly advocate the significance of motion in relation to the SDGs (down from 53% in 2019).

Commenting on the report’s findings, Lise Kingo, CEO of the UN International Compact, mentioned, “With lower than 4,000 days remaining till the 2030 goal, the change we have to see within the Decade of Motion is not going to occur by incremental enhancements and changes to ‘business-as-usual.’

“Firms must step-up and remodel their enterprise fashions to show coverage commitments into motion that may result in precise efficiency enhancements. Now could be the time for CEOs to talk up and guarantee all firms totally combine the Ten Rules and lift their SDG Ambition to fulfill the wants of society and the planet.”

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Remi Eriksen, Group President and CEO, DNV GL mentioned: “Our world has been rocked this previous 12 months. From the clamour of faculty kids protesting the dearth of motion on the local weather menace, to the disconcerting new regular of the pandemic and, most just lately, the requires justice and equality all over the world.

“All of those developments remind us that the Sustainable Growth Targets are usually not simply beliefs to aspire to, however that they’re completely basic in making a simply society, with equal alternative for all on a planet that’s liveable. The report concludes that The Decade of Motion requires all firms to take a deep have a look at the place we’re falling brief and set industry-specific objectives.”

Launched in 2000, the mandate of the UN International Compact is to information and assist the worldwide enterprise group in advancing UN objectives and values by accountable company practices. With greater than 10,000 firms and three,000 non-business signatories based mostly in over 160 international locations, and greater than 60 Native Networks, it’s the largest company sustainability initiative on the earth.   

This media launch was submitted by DNV GL. Cowl picture through United Nations.

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