Can private sector participation in the SDGs unlock more sustainable business practices? An ambitious project has been launched to explore how the private sector can actively contribute to the Sustainable Development Goals (SDGs) — and determine the role of reporting and partnerships is to support this process.
GRI, the sustainability reporting standard setter, has joined forces with global power company Enel to research whether the SDGs have influenced business reporting and contributed to the adoption of new partnerships and business models. The project will look at how to strengthen the role of reporting, to enhance sustainable business practices and stimulate collaboration.
Through the first phase of the project, businesses, policy makers, NGOs and other stakeholders are asked to share their perspectives on the current state of affairs and help develop a vision on how companies and governments should work together.
An online collaboration forum was hosted by leading insights and strategy consultancy GlobeScan in late 2018 with an expert multi-stakeholder panel convened by GRI and Enel.
Now in the second phase, the outcomes of the online forums will be discussed in regional dialogues. Participants will explore how the lessons, especially those around effective business models and partnerships, can be translated into concrete action.
Tim Mohin, GRI Chief Executive said: “From the inception of the SDGs, GRI has championed the participation of the private sector in measuring and achieving progress. And it’s clear that, by engaging in SDG reporting and embedding this within corporate disclosures, businesses can change their ways of working through embracing sustainable practices.
This exciting partnership with Enel will help us understand how this is happening in practice —and what we can do to encourage more companies to get on board, as well as support national and global collaboration.
I would encourage organizations that are already reporting on the SDGs and those with a key interest or expertise in this area to get involved by participating in the engagement work we have planned.”
Ernesto Ciorra, Enel’s Head of Innovation and Sustainability (Innovability), said: “The integration of SDGs into our group's strategy is key to fostering group growth while accelerating sustainable development where we operate and promoting the creation of value to be shared with all the stakeholders we work with, from local communities, to employees, suppliers, and investors.
The implementation of SDG 17, which includes new forms of partnerships, helps create long-term value in line with our “open Innovability” vision. We are looking forward to working with GRI in an open environment towards the achievement of the goals of the 2030 agenda.”
The UN SDG target 12.6 requires Member States to encourage companies to adopt sustainable practices and integrate sustainability information into their reporting. SDG goal 17 is to strengthen global partnerships in support of achieving the 2030 Agenda. This research project is grounded in articulating and supporting the links between these aims.
Global Reporting Initiative (GRI) is the independent international organization — headquartered in Amsterdam with regional offices around the world — that helps businesses, governments, and other organizations understand and communicate their sustainability impacts.
Enel is a multinational power company and a leading integrated player in the global power, gas, and renewables markets. It is the largest European utility by market capitalization and ordinary EBITDA and is present in over 30 countries worldwide, producing energy with around 90 GW of managed capacity. Enel distributes electricity through a network of over 2.2 million kilometers. With around 73 million end users globally, the Group has the largest customer base among its European peers. Enel is strongly focused on sustainability and innovation. Its renewables arm, Enel Green Power, manages over 43 GW of wind, solar, geothermal, and hydropower plants worldwide. Enel X is Enel’s global business line dedicated to developing innovative products and digital solutions in sectors in the cities, homes, industries, and electric mobility segments. Enel X is the leader in demand response programs globally, with over 6 GW of capacity currently managed and assigned worldwide.
GlobeScan is an insights and strategy consultancy, focused on helping our clients build long-term trusting relationships with their stakeholders. Offering a suite of specialist research and advisory services, we partner with business, NGOs, and governmental organizations to meet strategic objectives across reputation, sustainability, and purpose.