The World Benchmarking Alliance Calls Out the Lack of Business Commitment to Societal Reforms in ESG Pledges
The World Benchmarking Alliance (WBA) has just released its #Social Transformation Baseline Assessment, and it makes for highly uncomfortable reading.
In assessing half of what the WBA has entitled the SDG2000 -- i.e. companies which have the greatest potential impact to achieve the United Nations Sustainable Development Goals (#sdgs)-- the WBA has found only 1% meeting the fundamental expectations.
Their publication reflects that while 55% of businesses are publicly committed to “respecting #humanrights,” less than half are demonstrating the commitment through tangible actions, including ongoing human rights due diligence (HRDD).
The WBA’s report is also a damning indictment in relation to “decent work” fundamentals, with only 4% of #business #leadership recognised as meeting the mark.
On the ethical dimension, the WBA found only 20% of companies disclosing high level lobbying information, with only 8% disclosing how much they actually spend on lobbying and influencing legislation. As they put it, “#transparency is often the exception rather than the rule.”
Dan Neale, at The WBA, summarised the report saying “research paints a sobering picture.” Said another way, all too many companies are talking the talk rather than walking the walk on #social sustainability commitments.
#ESG includes not only the #environment but also the societal, ‘S’ elements.
What can you do to make sure you don’t neglect it?