Businesses\ncannot prosper in a world plagued with poverty, violence, inequality and\nenvironmental stress. Therefore, for companies, doing well and doing good\nsimultaneously is of paramount importance. To do so, they must align themselves\nwith global development priorities and ensure that they catalyze the global\nefforts towards achieving Sustainable Development Goals (SDGs) within the\nstipulated time frame. To better manage risks, most companies have embraced\nCooperate Social Responsibility (CSR) in their business strategies. However, it\nmight not always be clear where to act or which strategies create the biggest\nimpact. Therefore, SDGs act as a clear framework to identify and understand the\nsustainability topics. By using SDGs as a guide, CSR departments can employ\ntheir resources to solve social and environmental problems. <\/p>\n\n\n\n
Companies consider CSR as a cost center with vast potential to benefit the profit objectives of the business. Incorporating SDGs in CSR promises significant economic rewards that deliver innovative solutions and offer a transformative change in societies. According to a flagship report from the Business Commission, achieving the SDGs could create 380 million jobs and help at least $12 trillion in opportunities for business by 2030<\/a>.\u00a0 <\/p>\n\n\n\n Read also: Eco-Labeling-\nThe Complexity Behind Simplicity<\/a><\/p>\n\n\n\n The\nintent of doing good will only be formalized if companies integrate SDGs into\ntheir CSR performance matrices. This can be done so by establishing the impact a\ncompany has to the SDGs. Developing a CSR that works best to measure the level\nof impact while at the same time creating room for learning is a win-win for\nboth the company and the society. However, most companies are yet to explore\nthe linkage between their business objectives and SDGs and how the latter may\nbenefit the former. <\/p>\n\n\n\n Both\nSDGs and CSR recognize the importance of promoting economic development. Employers\ninterested in supporting sustainability may involve their companies in efforts\nto promote green-friendly operations and create programs that promote both\ncustomers and employees. Organizations truly committed to driving achievement\nof SDGs, help build stronger infrastructure that serves both local economies\nand the company. For instance, Veolia<\/a>\nhas committed to a CSR that ensures access to basic social services, fair\ndistribution of resources and to conserve them for future generations.<\/p>\n\n\n\n SDGs\nprovide a common set of goals around which a company\u2019s CSR may rally and build\npartnerships. These may help identify common interests, where it is necessary\nto jointly tackle sustainable development issues beyond the control of an\nindividual. Indeed, such partnerships are promoted as one of the major levers\nof business involvement into the SDGs. For instance, in 2015, Target<\/a> partnered with UNICEF<\/a> on a campaign\ndabbed Kid\nPower<\/a> which committed Target to one of UNICEF\u2019s sustainable\ndevelopment goals. The retailers sold kid-friendly fitness trackers encouraging\nthe wearer to compete in various fitness activities, which ultimately helped\ndeliver food to underprivileged children around the world. This helped UNICEF\nmeet the agenda of SDGs and generate global malnutrition awareness at the same\ntime. <\/p>\n\n\n\n Profit\nis the primary reason for being in business. It should not be considered a\ndirty word. Making money can be done while also making society better. In\nshort, satisfying the pocket and the heart are not mutually exclusive. CSR and\nSDGs together can have tremendous potential to develop an interconnected model\nfor sustainable growth.<\/p>\n","protected":false},"excerpt":{"rendered":" Businesses cannot prosper in a world plagued with poverty, violence, inequality and environmental stress. Therefore, for companies, doing well and doing good simultaneously is of paramount importance. To do so,…<\/p>\n","protected":false},"author":2,"featured_media":5282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[89],"tags":[],"class_list":["post-5281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-responsibility"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=5281"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/5282"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=5281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=5281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=5281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}