Fighting Inequality: Which Companies are Diversity Leaders? (#SDG10)
SDG 10 focuses on Reducing Inequalities
This week, Global Sourcing Council's 17 Weeks for 17 Sustainable Development Goals (SDGs) explores SDG 10 with examples of corporate action for reducing inequality within and among countries.
The Global Challenge:
Inequality within countries rose by 11% in developing countries between 1990 and 2010. Economic growth is not enough to reduce poverty and inequality; growth must be inclusive of all segments of society, and involve the three dimensions of sustainable development. In turn, inequality can harm growth, as well as the quality of political and public life.
The Business Opportunity:
Fighting inequality can unlock new markets, attract new business, lead to innovation of new products or services, increase employee morale and productivity, and manage risk in communities. The UN Global Compact suggests these steps for business:
- Create decent jobs, goods and services that help meet basic needs, and more inclusive value chains.
- Make strategic social investments and promote public policies that support social sustainability.
- Partner with other businesses, pooling strengths to make a greater positive impact.
McKinsey research has found that diversity is recognized as a core driver of business growth and innovation, leading to higher earnings and greater shareholder value. Hewlett Packard is among the companies who have observed that “engaging diverse suppliers supports the economic strength of local communities while enhancing innovation and competitive advantage in our supply chain.” To this end it seeks suppliers who are: small businesses; located in underutilized commercial and industrial zones; aboriginal/indigenous-owned businesses; service-disabled veteran owned businesses; and lesbian, gay, bisexual and transgender owned businesses.
Click Here to Find Examples of How Taking Action Makes a Difference such as:
- Identify Inequality Challenges in your Supply Chain: Inequality-Adjusted Human Development Index, GINI Index, UN High Commissioner for Human Rights Anti-Discrimination Database, OECD Data and Bloomberg Gender-Equality Index.
- Learn from Leaders Taking Action on SDG 10: Novartis, AT&T, Sodexo, Hewlett Packard, HSBC Holdings Plc, BNP Paribas SA, Old Mutual Plc, Hartford Financial Services Group, Deutsche Bank AG, Nike, Walt Disney Company and Harley Davidson.
- Amplify your Impact: Collaborate with NGOs and Other Companies: Dandelion – Specialisterne, Catalyst and Business and Human Rights Resource Centre.
- Join the Sustainable Sourcing Community: Become a GSC Corporate Member or Individual Community Member to Drive Results.
- Highlight your Work for Industry, Innovation and Infrastructure in Sourcing: Apply Today for 2016 3S Awards - 2015 Employee Engagement Nominee: TenSquared [VIDEO]
- Participate in an Upcoming Event on Sustainable Business and SDGs
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