Sustainable Development Goal 16: promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels.
« UN Global Compact launches SDG 16 Business Framework to inspire transformational governance », 1 June 2021
The UN Global Compact today launched a new tool to accelerate business action on the governance element (“G”) in environmental, social, governance (“ESG”).
The “SDG 16 Business Framework: Inspiring Transformational Governance” provides companies with guidance on strengthening business culture, ethics and performance and supporting public institutions, laws and systems… Goal 16 of the Sustainable Development Goals includes 12 specific targets that promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions.
The SDG 16 Business Framework will help companies embrace transformational governance, a principles-based philosophy that calls on business to be more accountable, ethical, inclusive and transparent as a driver to responsible business conduct, enhanced ESG performance and strengthened public institutions, laws and systems.
With the increasing overlap and urgency on ESG issues, transformational governance is a prism through which businesses can expand their understanding of the “G” in ESG. It demonstrates why and how businesses can assess and implement each target of SDG 16 through internal and external activities, including throughout their supply chains…
The SDG 16 Business Framework does not aim to create new legal commitments or standards but to deepen understanding of the role that business can play in advancing these issues; strengthen cross-functional engagement; encourage companies to assess where they are and to identify opportunities for improvements; and to incorporate into board and management oversight, values and culture, strategies, policies, operations and relationships.
It builds on insights from more than 60 business leaders and consultations in 14 countries around the world and reflects the Statement from Business Leaders for Renewed Global Cooperation… The Framework will form the basis of the UN Global Compact’s focus on Transformational Governance as part of its 2023 Strategy.
p / o Virginie Gastine Menou
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