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New Benchmark Will Rank Companies On Their SDG Success
Key Excerpts from Article on Website of Forbes
Posted: October 8th, 2018
https://www.forbes.com/sites/annefield/2018/09/29/new-benchm...
In the world of social enterprise and impact investing, perhaps the most universally accepted guide is the UNs Sustainable Development Goals [SDG]. Introduced in 2015, the 17 inter-connected goals now form an organizing principle for many entrepreneurs, as well as investors. To monitor and track how successful all that activity is, you ... need consistent benchmarks for measuring and comparing just how all those companies are doing. Thats where the World Benchmarking Alliance comes in. Recently announced at the United Nations General Assembly, it will develop free, publicly available benchmarks which will rank companies on their contributions to achieving the SDGs. With that in hand, everyone from consumers and investors to governments will have a comprehensive tool for deciding where to spend their money. Ultimately, the goal is to clarify what society expects from business. Some examples of factors in various benchmarks: For the SDG category of food and agriculture, they would include whether companies are producing food in an environmentally friendly way and ensuring acceptable livelihoods for farmers. For climate and energy, they would show to what extent companies in high carbon-emitting industries are contributing to the Paris Agreement. The aim is to develop all the benchmarks by 2023 to assess the worlds largest 2,000 companies. The first crop, due to be published in 2020, will address food and agriculture, climate and energy digital inclusion and gender equality and empowerment.
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