Stockholm (NordSIP) Trucost, the full cost accounting firm that makes estimates about the hidden costs of the unsustainable use of natural resources by companies, has launched an SDG Evaluation Tool that will allow companies to determine which Sustainable Development Goals are the most relevant to their business operations, supply chains and products.
The tool, which provides quantitative analysis of corporate performance on the SDGs across value chains, from raw material inputs to product use and disposal within the context of geographic operations, will also allow companies to identify opportunities to create business value, prioritise SDG investments and report progress on SDG alignment.
Trucost, a leader in carbon and environmental data and risk analysis and which is part of S&P Dow Jones Indices, assesses risks related to climate change, natural resource constraints and broader ESG factors. “Over 9,000 companies and investors with more than USD 4 trillion in assets have pledged their support to the SDGs,” said Libby Bernick, Global Head of Corporate Business at Trucost. “Seeking to translate awareness to action, the Trucost, SDG Evaluation Tool is designed to provide data-led insights to assess and communicate progress to stakeholders.”
“We are pleased to work with esteemed contributors in the Tool’s inaugural application to help meet the decision-making needs of company boards, investors, and other market participants with an interest in financing the SDGs.”
The main features of the Trucost SDG Evaluation Tool include:
- Scorecard of a company’s overall SDG performance and individual scores for each goal, including positive contributions towards the SDGs as well as negative impacts;
- Comparison of a company’s performance relative to its sector and competitors;
- Identification of the most relevant SDGs for a company, with prioritized risks and opportunities;
- A gap assessment showing the company where SDG investments may be optimized.
HP, Ingersoll Rand and Ørsted will be part of the inaugural application of the Trucost SDG Evaluation Tool, which will also be supported by an advisory panel of investment professionals, interest group representatives and academics, including the Nordic Investment Bank, the UN Global Compact and the World Business Council for Sustainable Development.
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