Published 11th of February 2022 by Nina

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?
#betterbusiness #future

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