Companies’ accountability in sustainability: A comparative analysis of SDGs in five countries

Abstract

As global environmental, health, and humanitarian problems increase, leaders are working hard to tackle these risks. As Sustainable Development Goals (SDGs) expire, companies have their own role to play in economic and social development. In fact, companies have connected SDGs to their own business initiatives. To support this trend, the Organization for Economic Co-ordination and Development (OECD) has recently developed a set of guidelines for the private sector to initiate responsible business practices. Globally, the trend points to businesses being more responsible and putting more emphasis on sustainability. The ethical motivation to engage in sustainable practices varies. When companies integrate sustainability into their business, the management of these initiatives needs to be integrated as well. Certain tools exist for companies to help support the internal management of sustainability, such as the Global Reporting Initiative (GRI). However, there is little research on how companies formulate their SDG goals and objectives, set priorities, and measure the impact of these initiatives. Doing so would increase their transparency and help convey meaningful information to their stakeholders. This research focuses on how companies from five different countries integrate SDGs into their business activities. Each of these countries face different, as well as similar types of sustainability challenges. The five countries that have been included in this research project are: Thailand, the United Arab Emirates, Qatar, Australia, and Malaysia. The research finds that the private sector lacks strategy when they plan for integrating sustainability.