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SDGs Becoming More Prominent in Sustainability Reporting, But Challenges Remain

October 5, 2016

SDGs Becoming More Prominent in Sustainability Reporting, But Challenges Remain

One year after the launch of the Sustainable Development Goals (SDGs, or Global Goals), United Nations (UN) officials are encouraging more businesses to engage in corporate sustainability reporting and integrate the Goals into their reporting. Also this week, the World Business Council for Sustainable Development (WBCSD) and consultants Radley Yeldar have released the 2016 edition of “Reporting matters,” which found that nearly a third of WBCSD’s members are already communicating on the SDGs.

The private sector has a significant role to play in meeting the Sustainable Development Goals (SDGs), but incorporating social and environmental factors into global corporate accounting remains a sizeable challenge, said UNCTAD Secretary-General Mukhisa Kituyi at an annual meeting of accountancy experts in Geneva this week. Hosted by UNCTAD, the United Nations Conference on Trade and Development, the meeting runs October 4 to 6.

“Corporate sustainability reporting can be a powerful tool to measure the contribution of business towards the SDGs,” Kituyi said on Tuesday. He also welcomed collaboration between the international development and accounting communities and acknowledged the challenges of going from single-issue financial reporting to reporting with social, environmental and other sustainability factors.

Read more at Sustainable Brands.

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