OECD Policy Note 'Better Business for 2030: Putting the SDGs at the Core'
OECD has published the Policy Note 'Better Business for 2030: Putting the SDGs at the Core' with examples of companies in various sectors that have integrated the SDGs in their strategies. Its possible to read examples of how CSR Europe's corporate members Huawei, Johnson & Johnsen, and Microsoft are working with the SDGs.
The Sustainable Development Goals (SDGs), the international community’s roadmap to a better world for all by 2030, cannot be achieved without the strong engagement of the private sector. Businesses create jobs, spur innovation and grow economies: they have a key contribution to make globally in balancing the wellbeing of people and environmental imperatives with economic achievements; and they stand to benefit, according to the Policy Note Better Business for 2030: Putting the SDGs at the Core published by the OECD Development Centre’s business platform Emerging Markets Network (EMnet).
The Note was released on the occasion of the Sustainability Conclave 2018 – CFO Day, hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI). It documents examples of eight global companies in various sectors that have integrated the SDGs in their strategies: Huawei, Pernod Ricard, Siemens, Johnson & Johnson, Manpower, Group Nestlé, Microsoft, Mahindra & Mahindra.
An increasing number of firms recognise the business case for the SDGs. The large majority of global customers, especially youth, are willing to pay a premium for products and services offered by sustainable businesses: up to 66%, and 73% in the case of global millennials.
And yet, putting the SDGs at the core of business strategies, and balancing sustainable development objectives with profitability, remain stark challenges. For a start, awareness about the SDGs remains low in the business sector. Besides, the note estimates that a drastic rethinking of supply chain management is required to generate positive social, environmental and economic impacts across the board.