The recent report by the World Business Council for Sustainable Development (WBCSD) sheds light on prominent trends in how global businesses are communicating their contributions and impacts on the Sustainable Development Goals (SDGs). Noteworthy findings include a significant 93% of WBCSD members referencing specific SDGs in their corporate reports, underscoring a collective recognition of their pivotal role in sustainable development.
A discernible shift towards broader engagement is apparent, with 31% of member reports now emphasizing 12 or more SDGs, a noteworthy increase from 16% in 2020. The report identifies a strong focus on SDG 13: Climate Action (89%), SDG 12: Responsible Consumption and Production (77%), and SDG 8: Decent Work and Economic Growth (75%).
Additionally, reporting on traditionally less-prioritized SDGs, including No Poverty (SDG 1), Zero Hunger (SDG 2), Life Below Water (SDG 14), and Peace, Justice, and Strong Institutions (SDG 16), is on the rise. Across different regions, Climate Action (SDG 13) remains a top priority in EMEA, the Americas, and Asia.
In response to these trends, companies worldwide are urged to accelerate their efforts in achieving the SDGs through transparent reporting and effective communication of their performance related to these global goals. Corporate reporting is pivotal in this endeavor, providing stakeholders with comprehensive insights into SDG-related activities and impacts, thus fostering accountability and contributing to collective global progress in sustainable development.
Recommendations for companies include comprehensive and transparent SDG reporting, integration of SDGs into corporate strategy, robust metrics and targets, emphasis on the interconnectedness of SDGs, and regular review and updating of reporting practices to ensure alignment with the evolving global sustainability agenda.
