26 April 2018: An article on corporate social responsibility encourages companies to assess and disclose their contributions to the SDGs, saying this can prepare them in case governments begin to require sustainability reporting. The article, by Sonal Mahida of Indelable, a strategic communications company, and Carolina Lima Perlingiere of FAUNA, which helps fashion consumers make more sustainable choices, was published on GreenBiz.

The authors observe that the SDGs represent the first time the UN has asked the private sector to help solve sustainable development challenges. SDG target 12.6 calls on governments to encourage companies to adopt sustainable practices and integrate sustainability information into their reporting cycle. Contributing to the SDGs can lead to significant benefits for businesses, in turn, including access to new markets, stabilizing and strengthening future markets, and enhanced reputation and stakeholder relations, the authors note. To gain these benefits, however, the companies must communicate about their contributions, the authors explain, noting that SDG disclosure shows who is “walking the talk” and who is “paying lip service” to the SDGs.

The authors encourage companies to report their SDG contributions through their existing CSR reporting systems in order to reduce the reporting burden. The SDG Compass is a tool that can help show business’ actions in SDG terms, they add. The SDG Compass was developed by the World Business Council for Sustainable Development (WBCSD), the UN Global Compact and GRI in 2015. It can help companies: explain the impact of the SDGs on their businesses; assist with goal setting; and provide advice on integrating sustainability into businesses.

In conclusion, by starting early, companies can be prepared if governments institute sustainability reporting requirements.

Engaging in SDG reporting processes early – even as a “dry run” – can enable companies to identify gaps in areas that will require coverage once official guidance, currently being developed by the Global Reporting Initiative (GRI) and the UN Global Compact, is published in September 2018. [Four Steps to Walking the Talk through SDGs Disclosure] [SDG Compass]