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The World Benchmarking Alliance

Project led by : 

Index Initiative

Geographical Area
International
Theme
Inclusive Economy

The project develops benchmark that will rank assessing the companies' impact on the implementation of performance of the SDGs.

Project

The World Benchmarking Alliance (WBA) seeks to generate a movement committed to increasing the private sector's impact towards a sustainable future for all. In 2015, the United Nations set out a supremely ambitious and transformational plan of action for people, planet and prosperity. The 17 Sustainable Development Goals (SDGs) and 169 targets demonstrate the scale and ambition of this agenda, stimulating action in areas of critical importance to humanity and the planet. Achieving these ambitious goals requires large-scale and profound transformations of the ecological, industrial and human systems that drive environmental and social pressures. The private sector has a crucial role to play in advancing the SDGs and contributing to systems change, but there needs to be real change in the way that the impact of business is measured to boost motivation and stimulate action. Together with allies from governments, industry, business, financial institutions, and civil society, we are developing transformative benchmarks to measure companies’ progress against the global challenges we all face. The benchmarks demonstrate to companies and their stakeholders where they stand compared to peers and where they can improve. This information provides business and stakeholders with a roadmap for the transformations ahead, showing how sectors can positively leverage their influence and where action is urgent. The benchmarks are informed by best available science, and build on existing norms and standards, frameworks and initiatives. They are free for everyone to use and continually improved through an open multi-stakeholder dialogue.

By virtue of being public, the benchmarks empower all stakeholders, from consumers and investors to employees and business leaders, with key data and insights to encourage sustainable business practices across all sectors. The first set of benchmarks will be published in 2020 and are strongly linked to the transformations needed to put our world on a more sustainable and resilient path. The benchmarks will be developed in close collaboration with WBA Allies, with methodologies published throughout 2019. The first benchmarks developed by the WBA assess companies on key challenges in food and agriculture, climate change and energy, digital inclusion and gender equality and empowerment. The Scale-up Committee of the Paris Peace Forum provides strategic advice regarding process of creating new indicators and improving the methodology behind it. It also helps with the advocacy stream, through the facilitation of connections with key stakeholders.

Organization

The World Benchmarking Alliance seeks to generate a movement around increasing the private sector’s impact towards a sustainable future for all, by developing benchmarks that will rank assessing the companies' impact on the implementation of performance on the SDGs.

NEWS

6 - 9 March 2019: The WBA Allies gathered for the second time to focus on their future engagement around benchmark development and methodology, community building and learning, and collective impact on the SDGs.

24 April 2019: Publication of the methodology on seafood industry.

21 May 2019: Roundtable on the Food & Agriculture Benchmark.

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