Defining Business Strategy and Focus on the Sustainable Development Goals
The United Nations Sustainable Development Goals (SDGs) lay down development targets by 2030. These global goals span across various development areas which include people, planet, prosperity, peace, and partnerships. The participation of the private sector is crucial to the achievement of these goals.
The SDGs outline a powerful framework translating global needs and ambitions to areas for innovations requiring business solutions. By following this sustainability framework, companies stay relevant in their respective industries through incorporating SDGs as part of businesses strategies.
This training will deepen the company's understanding of the SDGs, particularly at the target level; determine key targets to which the company creates significant impact; understand how the company plays an active role towards the achievement of the SDGs; and help in developing new products, services, and programs that may contribute to relevant SDG targets.
Sustainable Development Goals (SDG) Strategy and Reporting
BSD and UNDP developed an SDG Corporate Reporting Guide, a guidance document that helps businesses better report their contribution and align their strategy to the Sustainable Development Goals (SDGs). We provide handholding services to companies in identifying, measuring, and evaluating their contributions to the SDGs using the reporting guide.
As the first of its kind in the country, the Transformational Business: Private Sector Contributions to the SDGs showcases preliminary results of our online portal’s survey on how businesses are aligning their core businesses processes, activities, and initiatives with the Sustainable Development Goals (SDGs). It highlights 139 initiatives from 75 participating companies, 40% of which are voluntary submissions while 60% are sourced from publicly-disclosed information.
Most initiatives included in the report began or were conducted before the United Nations launched the SDGs in 2015, which proves that the Philippine private sector was already in the business of delivering on sustainable development even before SDGs were formalized in 2015.
The report suggests that a total of PHP 40.7 billion have already been invested in SDG-aligned core business practices in the country. However, it does not encapsulate the entirety of the contributions of the private sector. Reported investments are only based on disclosed information and may vary in timelines. Nonetheless, this information gives us an idea on where companies are concentrating their efforts on and where we need more investments.
To learn more abut BSD’s sustainability consulting services,