Should our business adopt the UN Sustainable Development Goals?
Sustainability looks different for every business. The ESG strategy you adopt can differ depending on the size of your organization, what it is you do, whether you have a for-profit business model or not, your values, and so much more.
There are also numerous ways to measure the impact of your ESG strategy. At LittPark, we advise our clients to adopt goals that can be measured with rigorous, globally-accepted approaches that allow you to quantify your progress and correct course when required.
However, there is also the need for pairing this with qualitative measures that can be readily communicated to, and understood by, your stakeholders.
An approach adopted by a number of LittPark clients has been to inform their sustainability strategy with the United Nations Sustainable Development Goals (SDGs), 17 internationally-applicable targets intended as a “blueprint to achieve a better and more sustainable future for all”. The goals can be a useful starting point, as their breadth allows them to be tailored to any organization, while providing a holistic framework for sustainability thinking.
Here, we explore the first three goals, and suggest ways that Canadian organizations can align their sustainability targets with this respected global model:
Goal 1: End Poverty in All its Forms Everywhere
The Covid-19 pandemic caused the first global increase in poverty in decades. This doesn’t simply impact the world’s poorest – many workers in wealthy nations find themselves with no financial safety net and unable to meet the basic costs of living. We know that housing affordability in Canada is a serious issue, and young people are disproportionately affected. In fact, the UN reports that young workers are twice as likely to be living in extreme poverty as older workers.
Aligning your sustainability strategy with Goal 1:
· Ensuring wages and benefits align with the cost of living and inflation
· Supporting financial literacy and financial planning for workers
· Advocating for affordable housing in your region.
Goal 2: End hunger, achieve food security and improved nutrition and promote sustainable agriculture
This is a broad one, but perhaps more applicable to Canadian organizations than you may think. Canada’s agriculture sector generates $112 billion of Gross Domestic Product, and yet one in eight Canadian households experiences food insecurity. On the plus side, Canada is a global leader in sustainable agriculture and well-placed to support developing nations to introduce sustainable practices.
Aligning your sustainability strategy to Goal 2:
· Support local food banks
· Examine your supply chain for sustainable agricultural practices
· Provide nutritious food options in break rooms.
Goal 3: Ensure healthy lives and promote well-being for all at all ages
In Canada, we are fortunate to have world-class universal healthcare. However, the cost of illness remains high for employers, costing the Canadian economy $122 billion annually in lost productivity. Many Canadian workers are at high risk for chronic disease, with obesity rates up 200% since 1985 and one in four workers reporting high stress levels.
Aligning your sustainability strategy to Goal 3:
· Provide facilities that allow your employees to bike to work: not only is it a great way to enhance physical health and reduce stress, it’s good for the planet too
· Train managers to recognize and address signs of stress in employees. Build a culture that emphasizes the importance of talking about and caring for mental health
· Adjust your benefits program to provide preventative healthcare options.
It’s important to be clear that the UN SDGs are not designed to be a roadmap for organizational sustainability. The goals are broad, more qualitative than quantitative, and progress relies on international cooperation on complex and sometimes thorny issues. For organizations, implementing 17 indicators of sustainability can feel overwhelming.
However, what the SDGs do provide is a glimpse of what’s possible. What could a sustainable future look like, across every measure, if we worked to achieve it at not only the national level, but in the private sphere as well? The 17 goals allow organizations to frame their thinking about sustainability, and develop a more holistic approach that can be embedded across all aspects of the business.
Study after study has shown that businesses with a strong ESG proposition outperform those that don’t [link to first blog]. The key is authenticity: selecting, implementing and measuring goals that align with your business. Whether you rely on the UN SDGs to get started, or prefer a fully tailored approach, LittPark can help. We support you to establish clarity around your objectives, integrate your ESG strategy across your business and ensure that your impact is measurable.
