UN sets the 2030 Agenda for Sustainable development goals (SDGs) as a new, universal set of goals, targets, and indicators that UN member states will be expected to use to frame their agendas and political policies over the next 15 years. All 17 goals were set as urgent calls to action by all countries – both developed and developing – in a global partnership.
The EU’s Corporate Sustainability Reporting Directive (CSRD) required large companies to publish regular reports on their environmental and social impact activities. The CSRD covers all relevant environmental, social, and governance (ESG) elements, and aims to increase investments in truly sustainable activities across the European Union. EU rules on non-financial reporting currently apply to large public-interest companies with more than 500 employees. It is predicted that in coming years, SMEs will be included in this reporting as well.
Social sustainability has become increasingly crucial for businesses across the world, and several international tenders already include requirements on social sustainability certifications.