World Benchmarking Alliance launched
1 October 2018
24 Sept saw the launch of the World Benchmarking Alliance (WBA) to help businesses measure progress against the UN Sustainable Development Goals (aka the Global Goals). In their press release (available here), Aviva, Index Initiative and the United Nations Foundation announce the launch
of the WBA with an aim of developing free, publicly available benchmarks which will rank companies on their contributions to achieving the Global Goals.
WBA’s press release says: “At a time of increasing focus on the role of the private sector in helping to drive greater levels of sustainability, equality and prosperity in society, the WBA will increase transparency and accountability for businesses in relation to the SDGs. It aims to empower consumers, investors, governments and civil society organizations by providing them with free and publicly available data that shows a company’s SDG performance, which they can use when deciding where to spend their money, allocate their investments or direct their policy and advocacy efforts. The WBA will develop a range of corporate benchmarks by 2023 to comprehensively assess the progress of 2,000 companies across major areas of transformation required to achieve the SDGs. The first set of benchmarks will be published in 2020 and will address food and agriculture, climate and energy, digital inclusion and gender equality and empowerment. The benchmarks will be designed to clarify what society expects from business with regards to the SDGs, and how best these companies can contribute to meeting these expectations. The WBA also believes this initiative will help to promote competition among businesses in their race to deliver against the SDGs. By assigning a value to social good, the WBA will help to create a market that rewards corporate leadership while challenging those that lag behind.”
Read the full press release here.
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