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  • Writer's pictureBORIĆ & PARTNER

Partnering with the Private Sector: The Role of Companies in Achieving the SDGs

The SDGs (Sustainable Development Goals) are a globally accepted framework for sustainable development that sets uniform standards for priorities and goals until 2030. Achieving these goals requires the collaboration of all stakeholders, including governments, businesses, and civil society. Unlike their predecessors, the Millennium Development Goals, the SDGs explicitly call on all businesses to use their creativity and innovation potential to address the challenges of sustainable development. Companies can use the SDGs as a framework to design, manage, communicate, and report their strategies, goals, and business activities.

In Croatia, the SDGs offer companies the opportunity to promote sustainable development and improve their reputation. By implementing the SDGs, companies can strengthen their innovation capabilities and seize new market opportunities. However, it is essential for companies to also consider the legal aspects, especially compliance with environmental and labor laws, as well as combating corruption and bribery. Companies should ensure that their business activities comply with the applicable legal framework and transparently report on their activities within the SDGs framework.

The SDGs and Corporate Innovation

As former Secretary-General of the United Nations, Ban Ki-moon emphasized the importance of the private sector as an essential partner in achieving the SDGs. Companies can contribute to achieving the goals through their core business. Therefore, companies shall measure the impact of their actions, set ambitious goals, and communicate their progress transparently. Companies have the opportunity to develop and implement solutions and technologies to address the world's most pressing challenges for sustainable development. The SDGs provide companies with the opportunity to promote sustainable development within their activities by minimizing negative impacts and strengthening positive impacts on people and the environment.

Balancing Profit and Purpose

BORIĆ & PARTNER wants to assist companies in aligning their business strategy with the SDGs and measuring and managing their contribution. Therefore, we aim to provide inputs in simple steps in our blog series “One Step Beyond” on how companies can plan or adapt their own activities, depending on how far their core business strategy is already geared towards sustainability, in order to make the largest possible contribution to the SDGs.

It is important to emphasize that implementing the SDGs is not only a moral but also a business responsibility. Companies that integrate sustainability into their business can benefit from various advantages, such as improved market positioning, a positive image with customers, investors, and business partners, and increased competitiveness.

Join us in our blog series and learn more about how your company can integrate the SDGs into your business activities and contribute to sustainable development.

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