Four-in-five companies assessed by Global Responsible Investing ( GRI ) include a commitment in their sustainability reports to the United Nations’ Sustainable Development Goals ( SDGs ), yet fewer than half set measurable targets for how their actions contribute towards fulfilling the goals, according to a recent study.
The study, published by GRI, a non-profit organization offering sustainability reporting guidance, and Support the Goals, entitled State of Progress: Business Contributions to the SDGs, analyzes a sample of over 200 companies around the world that produced a GRI report in 2020.
Key findings include:
The research highlights trends in SDG reporting, with recommendations on how companies can improve their communications and performance that include:
“This study confirms the crucial role of sustainability reporting in enabling companies to explore how their actions impact on the 2030 Agenda, while providing the transparency needed for governments and the international community to measure progress on the SDGs,” says Peter Paul van de Wijs, GRI’s chief external affairs officer. “It is encouraging, therefore, that we are seeing most GRI reporting companies commit to alignment with the SDGs.
“The urgent next step is to ramp up the role of the private sector in contributing to solutions for fulfilling the goals, which requires more in-depth and quantifiable disclosure, and links SDG performance with business strategy. Doing so, not only will increase progress on the goals, but it can also unlock opportunities for innovation and collaboration.”