Supporting UN 17 SDGs Initiative Trends
TREND 1: UN Sustainable Development Goals (SDGs) alone or the integration of UN SDGs within a company’s ESG framework is strengthening in all business sectors.
The integrated approach makes a greater connection to a sustainable future. SDGs, though being more thematic than corporate-centric, can help in aligning sector and company-specific ESG factors with wider societal and environmental goals. ESG considerations can be broadly mapped to SDGs, which can be relevant to most sectors and subsectors. After the pandemic, and with consideration to the “Build Back Better” mantra, the wellness industry has placed more importance on responsibility to sustainability. Placing SDGs at the heart of sustainable development improves visibility of and involves more stakeholders in their progress.
TREND 2: Investors have a growing appetite for companies who can report on their SDG performance.
Investment providers across all sectors have built assessments, indexes and benchmarks to compare business action toward SDGs. Businesses are being increasingly asked to offer investors their company’s portfolio toward the goals due to indexes emerging to help investors gain exposure to companies identified as making a contribution to the goals. The World Benchmarking Alliance has accelerated work in this arena by planning to build science-informed league tables. ESG-based investment decisions are directed toward long-term value creation for the business and society. Consequently, it draws a direct connection with the SDGs’ concept of creating “shared value” that represents a constructive intersection of market potential, societal demands, and policy action for a sustainable and inclusive approach to economic growth and wellbeing.
TREND 3: Wellness consumer brands are looking at ways to improve multi-stakeholder partnerships and collaborations to work toward a number of SDGs.
It is increasingly recognized that Partnerships for the Goals #SDG 17 brings shared value opportunities. There is a momentum of activity, and the opportunity for shared value has never been greater.