Leveraging the UN Sustainable Development Goals as a strategic tool to achieve positive impact

The UN Sustainable Development Goals provide a framework for businesses to measure their performance and make informed decisions about their operations. For example, the goal of responsible consumption and production can be used to ensure that businesses are using resources responsibly and reducing their environmental impact. Additionally, setting targets and measuring progress towards the goals of gender equality and reduced inequalities can help businesses to create a more diverse and equitable workplace. By taking action to meet the goals, businesses can create value for their stakeholders and strengthen their competitive advantage.

Since being established in 2012, the United Nations Sustainable Development Goals (UNSDGs) have helped guide businesses on their sustainability journey. At Wylde Connections we use them as a framework for sustainability strategies and a route to balancing the needs of People, Profit and Planet. Businesses are under increasing pressure from stakeholders to embrace sustainability and there has never been a better time to get to grips with how engaging with UNSDGs can help future-proof your operation.

The UNSDGs are designed to transform our world by 2030 by providing a route to a fairer and more sustainable future. They were developed with the help of key stakeholders across the 193 member states and have proved critical in galvanising support for the sustainability agenda. They are made up of 17 global goals and 169 targets covering a range of areas including combating climate change, eliminating poverty and hunger, creating sustainable communities and fighting injustice.

More than a decade on, the UN may not have made as much progress as it would have liked in addressing these issues. We are in the midst of an environmental crisis, face the consequences of global conflict and are struggling to combat global warming. Yet the UNSDGs remain as relevant as ever and it is imperative that we use these goals as a guide to how we find solutions to some of the humanity’s greatest challenges.

By aligning their strategies with the UNSDGs, businesses can start reducing their negative impacts and find ways of making a positive contribution to society and the planet. That makes sense not only from an ethical point of view. By acting more sustainably, organisations drive efficiencies, cut costs, build resilience and gain a competitive advantage. The UN has estimated that achieving the UNSDGs create at least US$12 trillion in business opportunities. They can open up new opportunities, encourage innovation and the adoption of more robust business models.

It is important that the business world recognises the importance of these goals and that we maintain momentum in using them as a tool in adopting more sustainable practices. KPMG has been tracking business adoption of UNSDGs since 2015. The number of companies reporting against the goals rose rapidly between 2017 and 2020 but since then growth has slowed. However, progress is still encouraging, and the latest figures show that three quarters of the world’s top 250 companies now report on UNSDGs.

The goals are also becoming a more important consideration for investors as they factor in ESG in their decision making. There is little doubt that businesses that align their strategies with these goals are more robust and have greater growth potential.

At Wylde, we use the goals as a key component of our work in supporting businesses with their sustainability strategy. They are a useful strategic too and help to focus minds, identify gaps and opportunities and take a holistic approach to sustainability that addresses all three pillars of environment, social and governance. They help communicate performance, track progress and engage with stakeholders about what actions need to be taken.

Take time to understand more about the goals and how can be linked to your business goals and strategies. Which are you currently contributing to and which are being overlooked? Let them inform your priorities and link them to business targets and KPIs.

As part of that process, businesses might choose to incorporate the Ten Principles of the UN Global Compact into their future plans and ensure sustainability is embedded in everything they do. Then talk about what you are doing and engage with all your stakeholders to explore how they might benefit from aligning their own work with the UNSDGs. Together you can then track and communicate progress as you continue to use them to support your sustainability journey.

If you are looking to develop your Sustainability Strategy or your racing to reach Net Zero, we can help. To find out more, book a free Discovery Call: www.wyldeconnections.co.uk/book