Measuring Impact on Sustainable Development Goal Projects: From Good Intentions to Impact
Written by Wilson Rangel Sustainability Consultant.
According to the report, ‘Approaching the Future 2020’, the commitment of companies to the 2030 Agenda has increased progressively over the last 5 years, being today the third most relevant trend for the executives consulted.
Among other data, about 41% of the companies are already working on the Sustainable Development Goals, and 60% claim to have defined the SDG on which they will focus their contribution to 2030 Agenda. These data reflect the growing interest in the corporate world to generate investment to achieve an impact on the SDG.
Despite this, institutional transformation has been slow to align business resources into effective actions to meet these ambitious global goals by 2030. In fact, a recent UN report points to an urgent need to modernize the global financial system in order to meet the SDG.
Indeed, the United Nations Conference on Trade and Development (UNCTAD) in 2019 discussed the need to increase financing to meet the ODS. Neverlethless, the key point is to make the best use of these resources, and the efficiency of these resources per se can help attract more resources.
For this reason, several international organizations have promoted Impact Evaluation as an effective way to provide scientific evidence of the impact of social investments on SDG. In Latin America in particular, the IDB Group uses Impact Evaluation to close knowledge gaps and build more effective investment models, with a view to increasing the efficiency and scale of investments that work best.
Corporate results frameworks, Impact Evaluations, and other tools help assure governments, aid funds, donors, and investors that the money has a tangible impact. In this way, social investment resources can be focused on the projects that have the greatest impact on SDG.
The ambitious goals of the Sustainable Development Goals have become a major challenge to meet. For this reason, the participation of the various stakeholders in society is fundamental: Governments, NGOs, companies, civil society. ALLCOT as an organization focused on climate change and sustainability services has managed to properly identify the structural conditions of the current market and understand that the key point is to increase resource efficiency.
ALLCOT has a portfolio of services focused exclusively on organizations that are interested in working on Sustainable Development Goals. In particular, these services are focused on efficiently managing the resources of the organizations and generating the greatest possible impact.
For organizations that are in an early and intermediate stage, ALLCOT provides advice for SDG Mapping, understanding what the impact of the organization’s business model with ODS is. It also helps organizations SDG Quantify in their business model. Finally, it supports organizations in managing the impact on SDG through an Improvement Roadmap.
On the other hand, for organizations that are at a mature stage and make social investments in particular programs, ALLCOT provides advice on measuring impact on SDG, and thus helping organizations to efficiently invest their resources in the right programs.
Achieving the ambitious Sustainable Development Goals of 2030 Agenda is a major challenge for society at large, but the best way to meet the challenge is to use all resources in the most efficient way. This ensures that the resource is generating the greatest possible impact.