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Turning SDGs into a tangible b..

The term "social responsibility" in the corporate has become increasingly important over the last several years. More and more companies are incorporating social responsibility into their business strategy. This ethical framework obliges an organization or an NGO or an individual to act for the benefit of the society at large bringing a positive impact towards social, cultural, economic and environmental issues.

The 2015 UN conference on financing for development was evident on its accusation that the SDGs needs the business community. The new set of 17 SDGs will be achieved in 2030 only with inordinate levels of private finance and business and management skills of a private sector. It is clear that the SDGs not only identifies to create a sustainable world in 2030 but also outlines the new market and opportunities for all the companies throughout the world. To succeed, we must turn global goals into a local business.

As an adage goes "where's there's muck, there's brass". The best business opportunities are in global challenges. The SDGs serves as a brilliant template for creative exploration of future business opportunities that suits an organization. Contributing to the SDGs is a way an organization create shared value for all stakeholders that make their business strong and sustain.

Business is the most powerful drivers of change. They bring innovation and resources to the world’s development changes as there is no shortage of ideas. Each company should decide how the SDGs fit into its strategy. Every organization should consider themselves as consumers of good governance and seek partnership to help in contributing to long-term policy solutions for all the SDGs.

Collaborative efforts will bring the organization and collaborative partners to address the most urgent challenges that they might have little or no chances of handling alone. For example, General Electric has partnered with PartnersGlobal, to support rule-of-law efforts in developing countries. The initiative is establishing self-sustaining "conflict resolution centres" that seek to manage and mediate the conflicts that arise as countries transition to more democratic systems.

On the other hand, the collaboration will enhance the reputation of the organization. Companies that align their priorities behind the planetary goals can strengthen their engagement with customers, employees and other stakeholders in order to maximize a positive impact.

According to SDG compass, by developing and delivering solutions for the achievement of SDGs, companies will discover new growth in opportunity and lower their risk profile.

Reference:
https://sdgcompass.org/wp-content/uploads/2015/12/019104_SDG_Compass_Guide_2015.pdf
https://www.unglobalcompact.org/what-is-gc/our-work/sustainable-development
https://www.dnvgl.com/news/from-risk-to-opportunity-turning-the-un-sustainable-development-goals-into-local-business-initiatives-69527

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