Business Commitment to Sustainability Reaches Turning Point: UN Global Compact Report

Jun 25, 2015 4:30 PM ET

The impact of the UN Global Compact on worldwide business has been substantial for the past fifteen years, but future progress depends on efforts to speed up, scale up, and strengthen sustainability initiatives. That’s the summary finding of a new report prepared by DNV GL for the UN Global Compact. 

The report, “Impact: Transforming Business, Changing the World,” lists numerous positive developments since two thousand. Commitments by global business now total twenty-five percent of the world’s largest companies. Businesses from one hundred fifty-six countries have signed on to the Compact. Corporate agendas list more sustainability issues because they impact performance. And leading companies are now looking for ways to turn sustainability risks into new business opportunities. 

The report also highlights three keys to making transformative change over the next fifteen years. One, a majority of companies must embed sustainability in their business models and long-term strategies. Two, better governance and regulations are needed, especially those that encourage investors. And three, companies should know that constant, major innovation is the new “business as usual.” 

I’m John Howell for 3BL Media.

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