With the launch of the Sustainable Development Goals (SDGs), the United Nations has defined common goals for governments and business, to transition to a sustainable economy. The SDGs, which took forward the progress of the Millennium Development Goals (MDGs) in September 2015, expect the private sector to play a larger role than the MDGs. Consequently, one of the most important questions being asked today is, “Which processes will drive the changes we need to make in order to achieve this economy.
Corporate reporting provides an assessment on the economic, environmental and social impact of companies on sustainable development. The information gathered during the process of reporting could lead to better companies and policies, provided it is properly focused and used to inform critical decisions. While more companies are now reporting their social and environmental impacts and the trend is only increasing, the negative social and environmental impacts still exist.
This makes it imperative for more businesses to commit to the SDGs and the processes (Corporate Reporting included) required to achieve them.
70 participants joined us for our Thought Leadership event to learn from mature reporting organisations on the opportunities that exist in aligning to the SDGs and using corporate reporting as a tool to inform business decisions while also transforming local economies and societies.
Some questions addressed were:
- How does reporting facilitate positive change to the world and create business opportunities through the SDGs?
- Does reporting facilitate a change in corporate behaviors? How?
- How can we encourage more companies to begin the process of corporate reporting?
- SGX has implemented "Comply or Explain" requirements for all listed companies, what does it mean to non-listed companies?
- What are the frameworks and which should we follow when it comes to reporting?
- Ms Esther An, Chief Sustainability Officer, City Developments Limited
- Mr Simon Bennett, General Manager, Sustainable Development, Swire Pacific Offshore Services
- Mr Tony Wines, CEO, Turnkey Group Limited
- Ms Yeo Lian Sim, Special Advisor, Singapore Exchange
- Ms Fang Eu-Lin, Partner, PricewaterhouseCoopers LLP