Why does a company need to set sustainability goals?
We need goals that we target to achieve. The journey towards a goal could contain multiple targets. UN Development Program (UNDP) has set sustainable development goals for the planet. These aim to end poverty, establish peace and harmony and protect the earth. Seventeen goals are defined to achieve these UNDP objectives.
Goals for a company, on the other hand, could be different. A company may seek to achieve the objective of sustainable development by setting goals to reduce carbon emissions. Another target could be to achieve gender equity in the board and the company. There could be a target to achieve the goal of equality of opportunity irrespective of race and religion.
Each of these targets will have a measure against which we monitor the organization’s performance to achieve the target and reach the goal.
Why do companies set goals for sustainable development? The customers are demanding that there should be a sustained global effort to reverse global warming. In response to the customer demand, companies set targets to reduce carbon emissions in their internal operations and the operations of their partners.
As a company progresses towards achieving its goals, customers note that this is a company working towards fulfilling its desire. They then view products and services offered by that company favorably compared to competitors.
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