Only 26% of corporate social responsibility priorities are linked to a quantitative business-related indicator, according to a report released Tuesday by S&P Global Sustainable1.
The report, "Achieving the SDGs: The Role of Corporates to Deliver Measurable Contributions," tracks progress and actions taken by companies that align with the U.N. Sustainable Development Goals. It is based on data from S&P Global Sustainable1's Corporate Sustainability Assessments over the past four years.
Examples of quantitative indicators include improved reputation or brand recognition, human capital development, and access to talent.
According to the report, the lack of quantifiable business-related key performance indicators "highlights the misconception that CSR strategies are not connected to the core business and raises the question of whether these strategies can create meaningful impact in the future when the benefit to the business is unclear."
"The data overwhelmingly show that companies tend to focus with the same intensity on the same SDGs, (which) casts doubt on whether companies' CSR strategies are diverse enough to achieve the various targets the U.N. has set out to reach by 2030," the report said.