Business needs to do more if SDGs are to be achieved – PwC

22nd January 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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An analysis by professional services firm PwC of over 1 000 published reports from listed, private and public sector organisations, including 48 from South Africa, highlights that with only ten years to deliver the Sustainable Development Goals (SDGs), there is considerable work to be done if business is to contribute meaningfully to national efforts.

PwC’s yearly assessment of public reporting on the SDGs assesses the level of integration of the goals into leadership, business strategy and reporting, as an indicator of business’ vital contribution to achieving government’s stated commitments within the next ten years.

It has been four years since the SDGs were unanimously ratified by all 193 UN members States as a universal framework for more sustainable ways of living and operating.

While governments around the world have the ultimate responsibility for delivering on the goals, this cannot be achieved without the support of business, states PwC.

Globally, nearly three-quarters (72%), and in South Africa 77%, of organisations analysed reference the goals in their public reporting. However, only 1% (global sample) and 2% (South African sample) reported quantitative measures to show their progress towards the related underlying targets.

Despite good overall awareness, progress on the SDGs could be undermined by a lack of specifics on targets, measurement and wider business integration.

“While awareness is high, unless integrated measurement and reporting takes place, progress and relevant policy measures can’t be identified at the level of detail necessary to really drive progress on reaching the goals,” says PwC SDG South Africa lead Jayne Mammatt.

“Companies are starting to prioritise goals they believe are relevant to them, but we’ve little evidence of joined up thinking on how the goals are approached. Goals related to water, land and energy have strategic opportunities and risks for almost every sector, yet are not widely identified as considerations in future business strategies and investments.

“The goals are practical. They are both a risk and opportunity management framework from businesses’ point of view. While companies don’t need to specifically reference goals to be acting on them, we should be seeing the identification of issues that underpin them and strategies to address them at scale and, unfortunately, we’re not.”

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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