The Global Reporting Initiative (GRI) has released a new report with five key recommendations for how governments can strengthen the progress of the Sustainable Development Goals (SDG) through increased participation of the private sector.
- Involve the private sector in every step of SDG implementation: Ensure priorities are shared, and the contributions of different businesses and sectors are understood.
- Facilitate and enforce effective SDG disclosure by companies: Utilise best practice guidelines and regulations for mandatory reporting
- Align with existing corporate disclosure practices and frameworks: Focus on those already widely used and working well, such as the GRI Standards.
- Develop a measurement and monitoring tool to track private sector input: Start with the data available through sustainability reports.
- Enable regular dialogue between business, policy and investors: encourage collaboration and reinforce their respective SDG contributions.
Participation from both the private and public sectors, voluntary national reviews and annual SDG status updates from individual countries can help governments to meet deadlines to complete SDG.
With ten years to go to achieve the Goals, it is already clear that progress is too slow, according to the report.
Peter Paul van de Wijs, GRI chief external affairs officer, said: “The SDGs are an ambitious set of targets to address the pressing global challenges of our times on issues as diverse as inequality, health, poverty and climate change. And as demonstrated by the current COVID-19 pandemic, collective action is essential. Countries cannot deal alone with issues that transcend national borders.”
Click here for more information about the report.