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50% of companies surveyed by PwC have identified priority objectives, but only 28% have related measures.
Sustainable Development Goals – From Promise to Reality
According to a new PwC study, nearly three-quarters of companies (72%) mention the global sustainability goals in their annual reports on sustainability and sustainability – a 10% increase over last year . However, concrete measures and integration remain difficult to reach for many as companies struggle to identify actions that go beyond business as usual goals.
PwC's "From Promise to Reality" study examines the company and sustainability reports of more than 700 listed companies in 21 countries and six sectors to test the integration of sustainability goals into the strategy. commercial, planning and reporting.
The Sustainable Development Goals (SDGs) were adopted in 2015 and include 17 targets, as well as related targets and success indicators. They provide a roadmap to help organizations address the key environmental, social and economic challenges facing the world.
It is estimated that, in terms of new business opportunities, the SDGs can potentially generate billions of dollars in revenue and savings opportunities, and create hundreds of millions of new jobs.
The study suggests that while sustainability goals have been part of global business discussions for more than three years and that a significant number of companies are committed to meeting the goals, it There is still a gap between the intentions expressed by companies and their ability to integrate sustainable development objectives into their actual activities. strategy and report on it.
- 72% of the companies in the study mention the SDGs; the majority (60%) in their reports on sustainable development rather than in major financial or integrated reports.
- 50% of companies identified priority SDGs.
- Only 28% disclose meaningful KPIs related to objectives.
- 27% of all companies mention sustainable development goals in their business strategy.
- In the annual reports, only 19% of the statements by the CEO or the President mention the SDGs.
- The average score for the quality of reports from companies prioritizing SDGs was 2.71 out of 5.
- The major sectors of technology, media and telecommunications and energy, utilities and mining are leading the other industries on which they mentioned the SDGs in their reports.
Louise Scott, Head of Global Sustainable Development Goals, commented PwC:
"Progress on awareness and integration is a positive step for the SDGs, but it is only a small step. For each of the 17 goals, there are urgent global issues that have a direct impact on the business world. While the appetite for the SDGs is clear, many organizations still lack the strategy, tools and culture to turn these commitments into action. "
This year's study of priority objectives is no different from the most popular choices: decent work and economic growth (SDG 8); Climate Action (SDG13); and responsible consumption and production (SDG12). In some cases, companies appear to be reporting on SDGs for existing activities and metrics they already capture.
Alan McGill, Global Head of Sustainability Reporting and Assurance, PwC, said:
"The success of the Sustainable Development Goals depends on their central role in the business strategy. What is planned, measured and reported in a public ranking is a good indicator of what is embedded in a company's strategy and priorities. Invariably, this strategy is developed at the top of the organization by CEOs and integrated with key performance indicators and reports. The growing number of companies reporting that the report on the Sustainable Development Goals (SDGs) is a problem is a positive sign of commitment that will increasingly rely on strategies that go beyond the realities of sustainable development. opportunities presented.
Download the report at www.pwc.com/sdgreportingchallenge
Remarks
- PwC companies studied reports on the sustainability goals of 729 companies listed in 21 countries and territories in six sectors. Research is focused on whether companies mention sustainable development goals in their business strategy reports, as we believe this is a key indicator of whether the level and the scale needed to achieve the objectives are changed.
- This year's research builds on our work in 2017 to understand business priorities for sustainable development goals and to analyze the quality of their reports. We have changed the SDG reporting challenge to examine the largest publicly traded companies in each participating country and territory and understand sustainability reporting trends for the world's most influential companies, including tracking performance key indicators to allow comparisons across sectors and territories.
- Priority objectives identified: 1. Decent work and economic growth (SDG 8): 79% said that SDG8 was a priority. Objectives include achieving higher levels of economic productivity through diversification, safe working conditions, technological improvement and innovation, and significantly reducing the proportion of young people who do not work. not, do not follow education or do not follow training. 2. Climate Action (SDG13): 67% prioritized SDG13 because of the need to work towards global and regional regulation of greenhouse gases. 3. Responsible consumption and production (SDG12): 66% of respondents cite SDG12 as a priority. With this objective, the objectives offer companies a clear direction in the form of a substantial reduction of waste production through prevention, reduction, recycling and reuse. It also encourages large companies to adopt sustainable practices and integrate sustainability information into their reporting cycle and to ensure that people have relevant information and awareness of sustainable development and lifestyles in harmony. with nature.
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© 2018 News from the hotel
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