Sustainable Development Goals and the Responsible Business

The role of businesses in achieving the Sustainable Development Goals (SDGs) is widely acknowledged. This chapter examines how the SDGs framework, alongside the shared value paradigm, can drive responsible business practices. Achieving the SDGs requires a shift in mindset toward maximizing outcomes through three key extensions: a) a temporal shift towards long-term thinking, b) a stakeholder shift from prioritizing shareholders to considering a broader range of stakeholders, particularly customers, and c) a value creation shift, focusing on shared value rather than just profit. National culture, as seen in Europe, plays a significant role in fostering this mindset change. Indeed, enhancing the quality, comparability, and consistency of companies’ sustainability metrics and reporting is crucial for improving transparency, a cornerstone of responsible business committed to sustainable development.