As we approach 2030, the private sector must employ a wide range of solutions to help get the Sustainable Development Goals (SDGs) back on track. To help companies take ambitious actions across five key action areas where the business community is uniquely positioned to advance sustainable development, the UN Global Compact unveiled the Forward Faster initiative: a guide on where companies can make the biggest, fastest impact before 2030. By committing to Forward Faster, companies are joining a movement of business leaders and innovators who are paving the way for a safer, more sustainable future.
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About This Episode
With just seven years left until 2030, the world faces significant challenges and opportunities in shaping a sustainable future. The finance and investment sectors play a pivotal role in this transition, and in this episode of «Moving Business Forward Faster," we delve into this topic.
Joining us are two CFOs, Ronan Lory from Edison, a leading Italian company in the energy market, and Jill Klindt from Workiva, a company revolutionizing data management and reporting with cloud-based platform, who, alongside Claire Baumann, navigate a discussion related to the Sustainable Development Goals (SDGs) and Agenda 2030.
The conversation centers on the need for considerable investments to achieve these goals and how such investments can create new revenue streams, reduce risk, attract investors and talent, and prioritize sustainability. As Edison has done, companies must set specific targets and work continuously to meet them.
- We've set two big goals: to reduce our direct emissions by 90% by 2050 and to avoid about 10 million tons of emissions annually from 2040 onwards. So, Lory says you must invest to reach those goals once you've set them.
Reporting is critical in sustainable business operations, particularly when measuring and communicating progress toward the Sustainable Development Goals (SDGs). Effective reporting enables businesses to assess and demonstrate their environmental, social, and governance (ESG) performance.
- Workiva is a mid-sized global company serving just under 6,000 customers. We provide shared integrated reporting, which helps our customers report their ESG data. The data's structure, collection process, and consistency are essential. Klindt emphasizes that all stakeholders, not just the board and investors, rely on this information.
In light of these discussions, integrating sustainability into business models is not just a question of environmental responsibility but also a critical component of economic success. By committing to the SDGs, companies can contribute to a sustainable future and strengthen their financial and market standing.
So, how will this affect your business? Are you curious how companies can attract investors and capital by aligning their business strategies with the SDGs? What are your business's most significant challenges and opportunities in tackling climate ambitions and decarbonization? What role does finance play in advancing sustainable development goals? Then you must listen to this episode of “Moving Business Forward Faster.”