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„The Sustainable Development Goals provide a plan of action for addressing the world’s most pressing challenges, and thereby also a framework for sustainable solutions. The private sector is an essential part of these solutions, and more and more companies recognize the SDGs as levers for innovation, growth and better competitive performance. No matter how large or small, and regardless of their industry, all companies can contribute to the SDGs. Transparency is fast becoming the new paradigm for conducting business. Through better reporting, organizations can understand, communicate, and better manage their contributions to the SDGs“
The project “SDGs Roll-out Support and Private Sector Engagement”, funded by Sweden and implemented by the United Nations Development Program in Bosnia and Herzegovina, created the first blueprint for the annual sustainability report for businesses in Bosnia and Herzegovina. The methodology is based on Global Reporting Initiative (GRI) standards. GRI is the world’s most widely accepted framework for sustainability reporting.
This form of reporting is a trend in developed countries and as many as 96% of the world’s 250 largest companies (G250) prepare their own annual report on sustainable business. Also, 72% of companies from the G250 group associate their business with the Sustainable Development Goals. In Bosnia and Herzegovina, only a few companies follow this global trend.
Starting from next year, this type of measuring will also be done in BiH, mainly to track reporting on the implementation of SDG Framework for BiH. The measuring will in the future be done by authorized institutions of BiH.
All companies that were finalists of the SDG Business Pioneers Award 2020 were presented with their sustainable business reports. In this way, the importance of non-financial reporting of companies in the field of sustainable development is promoted.
The reports were created based on the applications of these companies for the SDG Business Pioneers Award 2020, and the application itself is based on the original methodology developed by the eminent expert Prof. Dr. Vjekoslav Domljan, rector of the Sarajevo Science and Technology School, and one of the most prominent economists in BiH.
The responses provided by the companies through the application served as the basis for the report on the state of implementation of the Sustainable Development Goals at the company level. Many companies understand corporate social responsibility as a tool that will help them build a better reputation, because in addition to the negatives, it sees new business opportunities.
The template for creating the annual report on sustainable business in Bosnia and Herzegovina is available to all interested companies that can download it from the link on this page and then fill out their own report following the established methodology. This is especially important for a planned approach to sustainable development and measuring development. In 2021, through the project “SDGs Roll-out Support and Private Sector Engagement“, support will be organized for companies interested in making their reports for 2020/2021. year.
DOWNLOAD: Annual Sustainability Report – template (ENG)
