How can you use foresight to align your sustainability strategy with the SDGs?

The SDGs, or Sustainable Development Goals, constitute a comprehensive agenda consisting of 17 interconnected goals and 169 targets established by the United Nations in 2015. Encompassing social, economic, and environmental dimensions, the SDGs address critical issues like poverty, health, education, climate change, biodiversity, gender equality, and justice. Serving as a shared framework, the SDGs chart a course toward a more sustainable and improved future for global well-being by 2030.

The Sustainable Development Goals are the most comprehensive framework for various organizations, governments, private entities, and worldwide communities. It has 17 interlinked goals, starting from the most immediate worldwide needs such as #1, No poverty, and #2, zero hunger, to #17, partnerships for the goals. These are important goals and targets for every individual, business, organization, government, and country to be a part of. The plans are astoundingly ambitious; however, raising the living standard worldwide and being within our means is an ambitious effort that would greatly benefit humanity the organisms we share the planet with, and the earth we rely on.

The SDGs are not in line with the Paris Agreement. Simply picking a few and making them your "thing" and continuing with business as usual is not going to cut it. You need to rethink your business model and that goes beyond the SDGs.

Aligning your sustainability strategy with the SDGs offers a myriad of benefits. It elevates your reputation and credibility as a responsible entity, providing a competitive edge and mitigating risks and costs. This alignment not only fosters innovation but also encourages collaboration, contributing to positive social and environmental transformation. Meeting the expectations of customers, investors, and stakeholders unlocks market opportunities, while adherence to regulations and standards minimizes costs. Embracing new ideas and partnerships fuels innovation and collaboration, ultimately making a positive impact on global challenges.

By imagining possible future scenarios and modifying plans accordingly, you may use foresight to link your sustainability strategy with the SDGs. Prepare for changes in the social, political, and economic spheres by involving stakeholders and soliciting their opinions. As you innovate, keep an eye out for new technology and make sure your goals are realistic, attainable, and relevant to your community and business. Keep an eye on developments, evaluate potential threats, and encourage cooperation for greater effect. Your sustainability efforts can effectively contribute to the global objectives defined in the SDGs by keeping up with trends and taking proactive measures to overcome issues.

Going back to the basics my approach would be to visualize your business/portfolio dealing with sustainable problems in the future. Alignment to SDGs will come hand by hand with a preemptive approach to ASG risk-return scenarios in the future.

Scenario analysis would be a good tool. By leveraging reference scenarios from organisations such as the IPCC and IEA, organizations can enhance their preparedness for the future. Note that this process is iterative, as macro trends evolve, necessitating ongoing refinement of assumptions. Organisations should remain adaptable, acknowledging the dynamic nature of macro trends. Overall, there will be a more robust and responsive foresight process.

Foresight is a dynamic, ongoing process comprising four key steps. Scanning involves meticulous analysis of current and future trends, drivers, and signals of change impacting sustainability goals. Scenario building crafts coherent stories of diverse futures, considering various assumptions and uncertainties. Implications assess the impacts, opportunities, and challenges each scenario poses for sustainability strategy. Lastly, options involve generating and selecting strategic choices that align with the sustainability vision and values, ensuring robustness and flexibility.

My experience has shown that the first crucial step in effective strategic planning is understanding the organization's goals and objectives. This includes a thorough understanding of the SDGs. The next step is to align the organization's strategic planning with the SDGs, taking into consideration the organization's mission, vision, products, and services. This applies to all types of organizations, whether they are government, businesses, academia, or NGOs. However, there may be slight differences in the approach for each type of organization. The alignment or identification of the SDGs is the first part of the Agenda2030. The other important components include the implementation and monitoring of the SDGs.

To align your sustainability strategy with the SDGs, a comprehensive understanding of their relevance to your business and sector is essential. Tools like the SDG Compass or SDG Action Manager aid in assessing current performance, identifying gaps, and setting targets. Frameworks like Three Horizons or Futures Wheel explore the evolution and interaction of SDGs in various future scenarios. For aligning strategic options, methods like backcasting or roadmapping define outcomes and pathways, highlighting necessary actions, resources, and partnerships. Monitoring progress and impact can be achieved through tools like the SDG Dashboard or SDG Index, facilitating continuous learning and improvement in your sustainability strategy.

We are in an Ecological overshoot; zero harm is not going to get us through the crisis. To reach a sustainable state we must regenerate and change the system at a sufficient pace and scale. This means applying Limits To Growth and circular strategies as tools for achieving that.

Trade has been taking place since the beginning of time, largely influenced by supply and demand. While international trade has negative environmental impacts, international demand has the potential for positive impact. There was much international outcry against slave labour in the past and more recently against child labour and sweatshops, which resulted in a change in business practices all over the world. There is now a growing international awareness and outcry against practices which harm the environment. With growing demand for “green” products internationally, this trend should influence business practices all over the world, resulting in a positive impact on the environment, including the transport sector.

When a company understands its Mission, its purpose and what its contribution is to the Sustainable Development Goals, it can lead the sector, be more competitive, innovate and differentiate itself. In such a way that it becomes a pioneer and protagonist in the development of new technologies, products, trends and practices. These new practices must be focused on increasing sustainability in a comprehensive and systematic way.