Today we launch our scoping report with the proposed model for the social transformation. While all companies should support human development through contributing to the 2030 Agenda, they must do it in a responsible way that respects the rights of workers, consumers and the wider community – that is, in a way that leaves no one behind.
All companies must therefore meet basic societal expectations, from respecting human rights to paying living wages and taxes. As part of our model, WBA is developing a set of core social indicators to assess the 2,000 most influential companies globally – across all systems and industries – and will consult on the draft indicators from June to September 2020.
It is proposed that the core social indicators will act as responsible business hurdles. If companies don’t meet them, it will have a material impact on their assessment in subsequent SDG benchmarks. We believe this approach is vital to avoid SDG-washing and to ensure people are at the heart of all SDG transformations.
Proposed core social topics to assess all 2,000 keystone companies
We invite you to give your input on the model and the indicators; how far, deep and fast should we go?
If you are interested in business’ role in achieving the SDGs, responsible business conduct, human rights and development, this report is for you.
WBA will host two webinars on 12 May at 11:00 (CET) and 17:00 (CET) to explain its approach to the social transformation and hear your feedback. Register now!
Aviva is one of the world’s largest insurance and asset management companies, its history tracing back more than 300 years. It has operations in 16 markets around the world, but through its investment portfolio, Aviva’s reach extends to a broader and larger group of consumers. The company is a LEAD member of the Global Compact; a founding member of both the UN Principles of Responsible Investment and the UN Sustainable Stock Exchange Initiative. It is also a frontrunner in responsible investments, using its influence to support more sustainable business and ultimately a more sustainable economy and society. Aviva is an active contributor and user of different corporate sustainability benchmarks, including a founding member of the Corporate Human Rights Benchmark. Aviva’s CEO Mark Wilson is a member of the Business and Sustainable Development Commission (BSDC) and is personally committed to driving forward the sustainable development agenda and the creation of the WBA.
The Business & Sustainable Development Commission (BSDC) aims to make a powerful business case for achieving a sustainable, inclusive economy. Its flagship report Better Business, Better World, launched in January 2017, maps the economic prize for companies that align with the SDGs, and shows how to achieve them. The report includes the creation of SDGs benchmarks as one of the key recommendations. The Business Commission aims to make a powerful business case for achieving a sustainable and inclusive economy, if the UN Sustainable Development Goals are achieved. In its flagship report, Better Business, Better World, the Commission describes how business can contribute to delivering these goals. Chaired by Lord Mark Malloch-Brown, the Commission include 37 leaders from business, finance, civil society, labour, and international organisations from around the world.p>
Index Initiative is a centre of expertise in benchmarking corporate performance against stakeholder expectations. It seeks to propel the use of benchmarks to engage and bring purpose and clarity on the role of companies in contributing to the SDGs closest to their core business. A non-profit based in Amsterdam, The Netherlands, Index Initiative’s research and benchmarks are free and accessible to all. Index Initiative will conduct the global consultation on the World Benchmarking Alliance.
The United Nations Foundation builds public-private partnerships to address the world’s most pressing problems, and broadens support for the United Nations through advocacy and public outreach. Through innovative campaigns and initiatives, the Foundation connects people, ideas, and resources to help the UN solve global problems. The Foundation was created in 1998 as a U.S. public charity by entrepreneur and philanthropist Ted Turner and now is supported by philanthropic, corporate, government, and individual donors.