To mark the 15th anniversary of the UN Global Compact, DNV GL conducted an assessment of the corporate sustainability movement in a report: ‘Impact: Transforming Business, Changing the World.’
Sustainability is now firmly on the global business agenda, but there is an urgent need to turn words into action. This is a key conclusion in the independent report; “Impact – Transforming Business, Changing the World” prepared by DNV GL on behalf of the United Nations Global Compact.
The report concludes that the UN Global Compact, as the world’s largest sustainability initiative, and the business community have had an impact on the development of sustainability over the past 15 years. Recommendations that must be implemented to accelerate progress towards a more sustainable future are also highlighted in the report.
As part of the assessment, 214 representatives from business, academia, civil society, labour unions, government and the United Nations were interviewed. Of these, 56 were top executives. In addition, we surveyed over 1,500 Global Compact participants, UN agencies and Global Compact Local Networks.
What are the key changes we need to see over the next 15 years?
- “Sustainability is the business of business” – we need to mobilise the vast majority of companies. Sustainability must be part of daily business – embedded in our business models and long-term goals and making sure we add value to society.
- “Breaking down barriers, energizing positive drivers” – how we can enable conditions to speed up change. It is a matter of better and smarter governance and regulations. Providing the right directional support and shifting investor practices.
- “New thinking for a new reality” – changes will come. We should inspire change by showcasing new business opportunities and sustainable solutions. And we should demonstrate that business is ready for the transformation.
About this report
This year the UN Global Compact is marking its 15th anniversary and askedDNV GL Group to conduct an assessment of the corporate sustainability movement and the role of the Global Compact in this.
We were asked to deliver an account of the “evidence” of the change that has happened in the corporate sustainability movement since the launch of the Global Compact in 2000 and until the 15thanniversary in 2015, and the role that the Global Compact has played in enabling this change.
As part of the assessment, 214 representatives from business, academia, civil society, labour unions, government and the United Nations were interviewed. Of these, 56 were top executives. In addition, we surveyed over 1,500 Global Compact participants, UN agencies and Global Compact Local Networks.
Hellolittlefuture has been contributing to this report through research, desk top analysis and writing.