Here is where the Sustainable Development Goals (SDGs) play a
crucial role. In 2015, United Nations
member states introduced
Agenda 2030 and pledged to achieve a comprehensive set of 17 goals
). Replacing the Millennium
Development Goals (MDGs), they serve as a shared vision as well as
a standard blueprint to guide key stakeholders in tackling the most
pressing social and environmental challenges.
Inclusive and Sustainable Development in the 17 SDGs
The implementation of SDGs still faces challenges down the road,
primarily stemming from the low level of perceived relevance.
Research commissioned by the World Economic Forum revealed that
around 74% of global citizens are aware of SDGs. However, most of
them are more inclined to support only urgently relevant goals, such
as those related to food, water, health, and energy.
And they start to
disengage when it comes to more lofty goals, such as gender and
income inequality.
The role of companies in improving this lack of affinity is apparent.
By including the SDGs in their marketing and other business
activities, companies can help make the goals integrate seamlessly
into customer lives. It will make the SDGs more of a household name
rather than a governmental initiative.
In a simplified way, companies can look at the SDGs from two broad
perspectives: humanitarian and environmental. On the one hand,
making the world a better place
involves creating improved
likelihood for the people on the planet—providing them with the
primary necessities, fundamental life skills, and equal opportunities.
On the other hand, it also involves preserving and protecting the
environment—making it a sustainable home for future generations.
The SDGs also promote both the creation of wealth and the fair
distribution of it. Specific goals aim to create perfect ecosystems and
conditions for everyone to prosper. Developing a quality
infrastructure and safe housing as well
as reducing the crime rate
and corruption are some examples of the targets. Other goals focus
on uniformly spreading the opportunities to thrive, especially for
marginalized groups. Examples include eliminating discrimination
against women and ensuring equal access to education.
The categorization helps simplify the goals and assists companies in
understanding and prioritizing how they can best contribute.
Looking at the 17 goals can be a bit overwhelming and make people
switch off. But in essence, the goals are simply about promoting
inclusive and sustainable development. Thus,
companies can quickly
identify where they can make a real impact along their value chain.
On the inclusivity front, healthcare companies, for example, may
focus on promoting healthy lifestyles and providing affordable
diagnostic tools and medications to the rural poor. On the
sustainability front, the companies may utilize technology and
deliver telehealth services to remote areas that reduce mobility,
conserve energy, and cut carbon emissions.
A financial services company may push for financial inclusion,
targeting underserved markets and utilizing
a financial technology
(fintech) model. At the same time, they may embrace and facilitate
sustainable investing, for instance, by funding the development of
renewable energy while avoiding investment in environmentally
degrading projects.
Manufacturing companies may contribute to sustainability by
adopting the circular economy model that employs reduction, reuse,
and recycling of production materials.
They may also contribute to
the inclusive economy by hiring minorities and involving small
businesses in their supply chains.
Businesses may soon realize the direct and indirect benefits of
adopting these inclusive and sustainable practices. Energy-efficient
operations in offices and manufacturing facilities means costs will go
down. The reduced mobility due to remote work and shared
transport will also save some money for businesses.
Moreover, catering to the underserved opens up new market
opportunities, and most importantly, forces companies to reverse-
innovate.
In the past, innovation usually has come from developed
countries and trickled down to the developing nations. Today, it is
the other way around. Companies such as GE, for example, have
been creating low-cost medical equipment for developing countries
and then marketing it to developed nations—repositioning it as
“portable” devices.
Setting up clear targets for achievement is useful for companies to
understand the scale and scope of their activism. It also allows
companies to drive the implementation within their organizations.
Measuring and monitoring the benefits will encourage companies to
continue their practices. It makes it more evident that corporate
activism is not only a responsibility but also a sound investment.
Reporting the result
and making it transparent, moreover, will
inspire similar companies to follow suit and help potential partners
identify possible collaboration.
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