The business community is an essential architect of this sustainable future. Their leadership in pursuing the SDGs can accelerate progress, transform markets and societies, and create a more sustainable and inclusive world.
Despite the clear need for sustainable practices, many countries, including the Philippines, still grapple with challenges rooted in traditional profit-centric models. The temptation of short-term gains often distracts from the broader sustainability agenda. Business leaders must navigate deliberately, balancing immediate demands with a long-term sustainable vision.
The journey begins at the Boardroom, with the top leadership recognizing that they must integrate sustainability into the organization's culture. Sustainability should be woven into the long-term strategy, continually assessed, and aligned with the organization's core purpose. This approach will not only foster a sense of purpose among employees but could help attract and retain top talent, particularly the socially conscious younger generation who prioritize a company's impact on society.
In this age of social media empowerment, stakeholders wield unprecedented influence, shaping businesses' reputations and priorities. The most important stakeholders that have emerged are the employees. To traverse this evolving landscape, companies must identify a few issues, not all the 17 goals, that resonate most with stakeholders and pursue solutions for these with ambition and determination. Choosing battles wisely can lead to tangible progress while safeguarding the business's long-term viability.
Measurement of progress in sustainability must go beyond financial metrics. Key Performance Indicators (KPIs) should reflect how well employees understand and embody the organization's purpose, both within and outside its walls. By aligning materiality with purpose and engaging stakeholders for feedback, businesses can gradually embed sustainability into their long-term value proposition.
Faced with pressures not only from employees but also from consumers and investors, businesses now confront sustainability issues related to supply chain oversight and environmental impacts. Disclosure alone will not be enough to address these systemic challenges. Collaborative efforts between the private sector and policymakers are also necessary to effect meaningful change toward sustainable practices.
Ultimately, embedding sustainability into an organization’s DNA demands a holistic approach driven by purposeful leadership, active stakeholder engagement, and an unwavering commitment to continuous learning and improvement. By embracing sustainability as an ethical imperative and a strategic asset, businesses can chart a course toward a more prosperous and equitable future for all.
Cilette Liboro Co specializes in sustainability governance and is a graduate member of the Institute of Corporate Directors.
