The importance of SDGxESG reporting

As corporations begin to take sustainability more seriously, they are producing a number of self-generated or third-party conducted reports. From BlackRock to West Pak Avocados, corporations see value in purpose, innovation, and transparency. But, while these companies are sharing their progress toward sustainability and acknowledging where they still have room to improve, others view this trend toward sustainability as nothing more than a marketing strategy. This is why reporting is so important: It creates accountability, improves decision making, and promotes innovation.

Accountability & Integrity

An annual and publicly accessible reporting practice keeps corporations accountable not only to their shareholders, but also to their customers, workers, and clients. This visibility promotes integrity in operations and decision-making as well. Consumers are increasingly drawn to brands that are truly sustainable, and grow savvier in identifying greenwashing daily.

Improved Decision Making

There are 17 SDGs and, within each of them, multiple targets. This makes compliance complicated and hard to achieve if not organized and recorded. Reporting provides a way to compile information, identify trends, and make smarter more strategic decisions in pursuing sustainability.

Innovation

Reporting can be a tool for achieving innovation. By identifying and tracking SDGs through a standardized report, companies will be forced to identify areas of improvement. This clarifies where a company can focus on reducing harm and activate where they can, as Outthinker says, “be good”. True innovation will require both, and reporting is the first step to identifying where to focus efforts.

ESG + SDG = Holistic Accountability

As we transition to a green economy, we must create the tools and strategies to make it easier for businesses to achieve holistic and deeply sustainable change. 17 Ways is developing a tool kit to make it easier for businesses to report the actions they are taking towards social and environmental sustainability in a consumer and investor-friendly way. This one-page dashboard can be used by all stakeholders to quickly see a B2B supplier’s impact on the SDGs, honing in on the reduction of harm alongside the contribution to a sustainable future through new business models, innovation, and partnerships.

For purpose-driven purchasing in a corporate environment, this dashboard is a game-changer as it allows the buyer to quickly assess the SDG impact of an individual business purchase and provides a cumulative view of how that purchase contributes to the overall business purpose goals across their supply chain. For investors looking for ESG impact, this dashboard provides the critical link between ESG and SDG to demonstrate both an individual company’s contribution to ESG and a portfolio view of a suite of companies.

For more on SDGs and ESG:

• 17 Ways’ Marketplace — Find other values-driven companies filtered by their aligment with the SDGs
• 17 Ways’ Dashboard — Visit our LinkedIn for more more information about our proprietary dashboard today.
• More on Benchmarking — Explore the World Benchmarking Alliances resources here.