Sustainable Development Goals

With the launch of the 17 Sustainable Development Goals (SDGs) and the 169 targets, the message was clear to all stakeholders of the world – governments, regulators, companies, and populations – that more was needed to protect the world for future generations. So where are we now, and how are companies reacting to this brave new world?

Balancing profits and responsibility

Acting responsibly as well as respecting people and the environment needs to be built into the broader business model. The costs then become an investment and, as with all investments, KPIs can be identified so that policies and processes can be managed and controlled.

In addressing the SDGs, there is a risk that businesses will simply repackage what they are already doing and align their reporting with specific goals without actually introducing anything new or they may select a few SDGs that they think are the easiest to address while missing the SDGs with the greatest impacts.

The impact of regulation

In terms of the overall effect of regulation, organisations are taking greater ownership. As the levels of understanding rise so if the demand for advisory services to help organisations address and embed the SDGs in their strategies.

This support covers the definition of actual and potential material impacts on people and the environment; identification of risk areas; policies and procedures for assessing and measuring. Sustainability is moving from a formal compliance exercise to organisations looking to derive greater value through the measurement of performance indicators and indexes.

Using SDGs to add values

As organisations begin to report on the SDGs that represent the risks most salient to their business activities, Mazars can provide support to organisations to become more sustainable and thus create greater value – be that educating global boards, identifying the risks on which to focus, implementing new processes, or providing assurance on non-financial reporting.

Partnerships for the goals

Mazars supports the SDGs and the advancement of corporate sustainability globally. Promoting comprehensive knowledge-exchange and learning in the spirit of the SDGs and the Ten Principles of the UN Global Compact, our Sustainability Leaders touch on four areas of best practice in relation to the SDGs:

As each business starts to consider how to align with the SDGs and contribute to the achievement of these goals we at Mazars can support you with:

  • Raising awareness within your organisation
  • Understanding the impact your business has on each goal and identify opportunities
  • Identifying your priorities ie where your business has the biggest impact – positive or negative
  • Develop your organisation’s strategy and support with implementation
  • Implement metrics to measure progress
  • Design a tailored reporting mechanism to meet your needs

If you would like to speak with a member of our Sustainability team, please contact us.

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