Sustainable Development Goals Compass: Input welcomed into new guidance for business on implementing the SDGs
Global Compact Network Australia | July 20, 2015
The new set of global Sustainable Development Goals (SDGs) to be adopted in September are a crucial opportunity for companies to strengthen efforts to meet their existing corporate sustainability responsibilities and commitments, and to identify new ways to integrate sustainable development thinking into their strategy.
To help business navigate the goals and understand how they can help, the UN Global Compact is partnering with the Global Reporting Initiative (GRI) and World Business Council for Sustainable Development to develop a guide – the SDG Compass – that supports businesses in aligning their sustainability strategies, including impact assessment and corporate goal setting, with the forthcoming SDGs. The SDG Compass focuses on three areas:
Impact Assessment: The guide will support companies in navigating existing impact assessment methodologies, frameworks and metrics, and selecting those that can be meaningfully applied to particular SDGs.
Goal Setting: The guide will direct companies to develop meaningful and ambitious corporate goals that support one or more of the SDGs. It will also include a discussion of how companies can communicate these goals to their stakeholders in a credible way.
Alignment with the SDGs: The guide will steer companies to find the most relevant linkages between their business strategies and the SDGs.
The SDG Compass was published in September 2015, you can find more information on the SDG Compass Website.