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Business has been identified by the UN as key to the successful realization of the Sustainable Development Goals (SDGs). Whether a small company or a large multinational, the products, services, and values of businesses can help address many of the global issues the Goals set to address.
A recent survey by PwC found that SDG awareness is on the rise in the business community and is at a much higher level (92%) compared to the general population (33%). Additionally, the survey noted that 71% of businesses are already planning how they will respond to the SDGs. As noted by Paul Polman, CEO of Unilever, “it is not possible to have a strong, functioning business in a world of increasing inequality, poverty and climate change. The private sector has a unique opportunity to embrace the Global Goals agenda and recognise it as a driver of sustainable business strategies, innovation and investment decisions” (Huffington Post, June 2016).
And herein lies the challenge: how can a business respond to and positively impact the SDGs? Well, many companies are choosing to align their climate action with the Goals through the use of carbon finance.
In this article, which originally featured in the Corporate Citizenship Briefing, I discuss how improvements in measuring carbon finance impacts are enabling businesses to better articulate the benefits of their carbon project investments beyond the verified emission reduction.