The Strategic Alignment of Portuguese Companies with the SDGs is Increasing
Center for Responsible Business and Leadership @ CATóLICA-LISBON
Our purpose is to contribute to a society where we only have Responsible Businesses led by Responsible Leaders.
The Observatory of the Sustainable Development Goals (SDGs) in Portuguese companies is a research project by the Center for Responsible Business and Leadership, supported and funded by Banco BPI and the “la Caixa” Foundation. This project aims to monitor and accelerate the implementation of the 2030 Agenda in Portugal, promoting the adoption of the SDGs by Portuguese companies to strengthen their capacity, efficiency, and contribution to the objectives set out in the 2030 Agenda.
The third year of activities of the Observatory culminates with the publication of the third annual report on November 13 at a public event .?
This report offers new insights and deepens the understanding of the implementation of the 2030 Agenda in the business sector in Portugal. The analysis is based on data collected through surveys, interviews, and sustainability reports from the 58 large companies and 132 SMEs involved, complemented by national and international studies and interviews with experts in Portugal. For the first time, the report compares different industries within the sample, revealing a similar general position on sustainability and the SDGs but also identifying opportunities for improvement, especially in the Sales, Technology & Telecommunications, Production, and Construction & Real Estate sectors.
In Portugal, there is growing corporate engagement with the 2030 Agenda, reflected in the increasing number of companies aligning their strategies with the SDGs. Both large companies and SMEs increasingly view the SDGs as business opportunities and are using them as support in decision-making processes.
Lack of knowledge about the SDGs and how to operationalize them were identified as the main barriers for SMEs to engage with this Agenda. In addition, the lack of financial and human resources necessary for the full implementation of the 2030 Agenda is also a significant barrier. Large companies identify the greatest challenge as the fact that the SDG framework is too distant from business language, showing a certain preference for the ESG framework due to its greater proximity. Additionally, the growing legislative burden on Sustainability has led companies to prioritize regulatory obligations, relegating the integration of the SDGs to a secondary plan. The lack of knowledge about the SDGs is identified as the second biggest barrier for large companies, followed by the lack of knowledge on how to operationalize and the lack of resources.
For large companies, the main motivations for adopting this Agenda include making an impact in the industry as a leader in Sustainability, solving social problems, and generating business opportunities. For SMEs, talent attraction and retention, business growth opportunities, and competitive advantage stand out.
The report also presents information on the context of the 2030 Agenda at the global and European levels, as well as three distinct investigations conducted by researchers from the Center for Responsible Business and Leadership, which are available for consultation here .
The year 2024 marks the beginning of the second half of the journey towards 2030, a decisive period for the future of the Agenda, which, unfortunately, has remained stagnant since 2020 due to the COVID-19 pandemic and global instability, exacerbated by conflicts in Ukraine and the Middle East.
The 2024 Sustainable Development Report reveals that only 16% of SDG targets are on a favorable path to be achieved by 2030. The pace of progress varies between different groups of countries, highlighting the need for international cooperation. Despite global stagnation, Europe, especially the Nordic countries, continues to lead in SDG performance. Portugal ranks 16th in the worldwide ranking of 167 countries assessed, up two positions from the previous year. In this context, it becomes increasingly crucial to develop partnerships to advance the progress of this Agenda.
These are some of the insights that will be shared and debated in a roundtable with experts on November 13.?
Have a great and impactful week!
Natália Cantarino Operations Manager and Researcher at the Center for Responsible Business & Leadership
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