Welcome to the 2020s: The ‘make or break’ era of sustainable development
January 30, 2020
One of the most critical decades of sustainable development has begun. The 2020s are the decade when businesses will either make sustainable development real, or they will fail to achieve our 17 internationally agreed 2030 Global Goals.
The UN Sustainable Development Goals (SDGs) have been described as the closest thing we have to a world strategy, and as part of PwC’s SDG Reporting Challenge, we reviewed the reports of over 1,100 companies worldwide to see how that strategy is being embraced.
Our analysis shows 72% of companies mentioned the SDGs in their reporting, but only 25% include them in their published business strategy. Furthermore, just 14% include specific SDG targets.
So while businesses are making progress to engage with sustainable development, there’s far more to be done to move beyond words to meaningful, urgent action.
We’re seeing some great examples of SDG action from business, and increasing recognition that SDGs must be considered if companies want to survive in a future of technological change, socio-demographic shifts, rapid urbanisation and climate change.
We know many businesses have already started their journey to understand what the SDGs mean for their business. We also recognise that measuring business contribution to society is not always straightforward.
But we believe more transparent, comparable company disclosure will be a key enabler for markets to allocate capital more efficiently to businesses that enable a world where achievement of the SDGs is a real possibility by 2030.
That is why we’re continuing, with renewed urgency, to support our clients with this complex task.
PwC’s 800-strong network of specialist sustainability consulting and assurance professionals have a long history of supporting businesses to act on the SDGs, communicate their SDG journey and improve market recognition of their contribution to the SDGs. We’re on a pathway to transforming business to be fit for a sustainable future. If you’d like to join us, click here to find out more about how we can help you turn aspiration into action, or contact:>