Corporate Sustainability aligned with the SDGs

pic: The Lake Gardens, Kuala Lumpur. February 2021

The UN Global Compact feels that corporate sustainability aligned to the SDGs is an imperative. It is “essential to long-term corporate success and for ensuring that markets deliver value across society.”

To be sustainable, UNGC member companies must act in 5 ways –

1. principled business: aligning with 10 principles on human rights, labour, environment and anti-corruption;

2. strengthening society: taking action and collaborating with others to advance global challenges;

3. leadership commitment: effecting long-term change begins with a company’s leadership;

4. reporting progress: transparency in business practice is crucial for sustainability;

5. local action: viewing sustainability through a local lens.

The UNGC membership consists of over 8,000 companies and 4,000 non-business participants based in over 160 countries. The consensus is that business should engage with the SDGs because although an investment of US$4trillion per annum is required to do this globally, this can unlock US$12trillion in savings and revenue. Then, there is also the resulting social innovation eg affordable housing and healthcare, energy efficiency, renewable energy, circular economy, low income food markets whereby 380 million new jobs created in developing countries by 2030. Incrementally, pricing environmental externalities will increase the value of market opportunities by 40%.

Location: Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia

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