Private sector still away from reaching SDGs: UN

5 July, 2020 12:00 AM printer

A recent United Nations report on the private business sector shows that the majority of companies are not doing enough to help bring about the UN’s 2030 Agenda for Sustainable Development Goals (SDGs), reports UNB.

The progress on bringing about a sustainable future for people and the planet is patchy, the report said, which was released by the UN Global Compact.

Remi Erikson, who led the team that drafted the report, said “The scale and pace of change, to date, to deliver SDGs has not been big enough or fast enough.”

The findings also show that just 39 percent of companies surveyed believe they have targets that are sufficiently ambitious to meet the SDGs by 2030, reports UN News.

Erikson stated that “Only 46 percent of businesses surveyed are embedding the SDGs in their core business.”

“Less than a third of businesses believe their industry is moving fast enough to deliver the SDGs by 2030,” he added.

Erikson went on revealing the findings that “Incremental change by individual companies will not deliver the business contribution needed to reach the SDGs.”

“Companies and the systems they are part of are moving broadly in the same direction, but not in a concerted effort,” said Erikson adding that achieving the needed change requires a ramping up of ambition among all companies.

Only policy making not enough

Although 93 percent of participants have embedded the Global Compact Ten Principles (on human rights, labour, environment and anti-corruption) into their policies, not enough is being done to put them into practice.

The research team leader Erikson said, “Policy is not enough to drive change, and we see a marked gap between having policies in place and implementing measures to act on the Principles”.

Until the majority of companies recognize the importance of sustainable development, they are not doing enough to significantly reduce their negative impact on the environment, Erikson added.