In 2020 the UN Global Compact has released a new SDG implementation framework for companies to raise ambition and embracing new technologies for the integration of the Sustainable Development Goals (SDGs) and Ten Principles into their business strategy, operations and stakeholder engagement management.
Decade of Action 2030
With the 17 SDGs which were adopted by all United Nations Member States in 2015, an agenda was created to serve as a shared blueprint for transforming our world by 2030 with actions for people, the planet and prosperity. A review concerning these ambitions in 2019 resulted in a clear message: the world is not making progress at nearly the pace and scale necessary to reach the collective goals from 2015. To be in line with the 2030 goals, a global climate 1.5°C trajectory and to mitigate ongoing existential threats like climate change, loss of biodiversity, and widening social inequalities, it will require businesses to be doing much more with bold leadership and bold targets.
To kickstart a decade of action, the SDG Ambition Initiative will challenge and help companies to be more strategic and transformational in how to run their businesses to deliver on the 2030 agenda.
The UN Global Compact SDG Implementation Framework
The new SDG implementation framework is organized in three primary areas.
- Anchoring Ambition in Strategy and Governance: It is crucial for businesses to set a foundation by aligning their Purpose, Governance, and Strategy and Goals with the SDGs and Ten Principles of the UN Global Compact. Key factors to successfully align their corporate purpose and strategy are the consideration where a business has the greatest contribution on individual SDGs (directly through operations or indirectly through supplier and/or customer engagements) and how actions taken will contribute to drive traditional business objectives and create new customer values. Business objectives that are aligned with the SDGs and Ten Principles should be mutually beneficial to the business itself and society.
- Deepening Integration Across Operations: After businesses have set a foundation by incorporating the SDG Ambition into their Purpose, Governance, and Strategy, they should focus to transform this foundation into their operations and processes through Products and Services, People Management, and Corporate Finance. To enable integration of business-driven sustainability solutions and SDG Ambition, it is crucial for businesses to build the right capability and platform infrastructure, e.g. by monitoring and tracking resources and interaction across business functions and units.
- Enhancing Stakeholder Engagement: To amplify the efforts businesses haven taken by implementing the SDG Ambition into their strategy and operations, they should improve external stakeholder and ecosystem engagement. With a focus on CSR related Communications and Reporting, Marketing and Sales, and Partnerships & Stakeholder Relations, business can enable performance recognition, accountability and authenticity, promote market uptake and awareness, and accelerate scale through wider collaboration. Robust processes and systems for monitoring and measuring KPIs will enhance internal management and support external reporting. Hardwiring SDG-related targets and outcomes into core processes and information flows will significantly accelerate progression towards the SDGs.
How DFGE can support?
We support you in the creation of the annual UN Global Compact COP (Communication on Progress). Based on existing information in your corporation, we provide answers to all topics related to the Ten Principles of the Global Compact and the implementation of Sustainable Development Goals. In addition, we consult and advise you on how you can improve sustainability throughout your corporation. The resulting overview of your company’s Corporate Social Responsibility profile can be used conveniently for other sustainability communication activities.
If you need support in terms of CSR reporting, visit DFGE’s website or contact us at .