The World Business Council for Sustainable Development (WBCSD) has recently launched its SDG Sector Roadmap for the electric utilities sector. It convened 11 of the world’s leading electric utility companies, including Tata Power, to explore, articulate and set a course to realising the unique potential of this sector to contribute to the SDG agenda.
In 2015, the United Nations launched the 2030 Agenda for Sustainable Development as a powerful framework to guide the world towards prosperity for people and the planet. The 17 Sustainable Development Goals (SDGs) require the transformation of our financial, economic, societal and political systems and ambitious action by all stakeholders, including business.
We are now over one-third of the way through the timeframe for the 2030 Agenda and despite global recognition of the urgency to realise the SDGs, we are not on course to deliver them. Moreover, the Covid-19 pandemic has emphasised the interconnections between climate, nature, health and social equity, and proven that business can only prosper when societies thrive. The future of business is dependent on the 2030 Agenda; those companies that embrace and embed the SDGs into their operations and management will build resilience and opportunities for growth. In addition to individual company action, collaboration within each sector is an important enabler to spur collective action and maximise impact.
The new SDG Roadmap for Electric Utilities provides utility business leaders worldwide with a flagship guide to driving transformative change. It explores the sector’s interaction with the SDGs, identifies nine priority goals, and outlines seven key impact opportunity areas where the sector is well placed to drive transformation in line with the objectives of the SDGs. The impact opportunities include:
Each of these impact opportunities is underscored by a series of tangible actions that companies can take to maximise their potential for positive SDG impact across short, medium and long term time horizons. This roadmap has been developed by electric utilities with multinational operations spanning Asia-Pacific, the Americas, Africa and Europe. The organisations who have demonstrated their leadership by producing the roadmap are: ACCIONA, Celsia, CLP, EDF, EDP, Eletrobras, Enel, ENGIE, Iberdrola, Kansai Electric Power and Tata Power.
Sustainable and affordable energy is crucial to achieving the SDGs. Energy powers the economy and makes it possible for people to live the kinds of lives they aspire to. However, serious challenges remain, with one out of ten people still lacking access to electricity. Accelerated efforts to scale renewables and drive energy efficiency remain critical to achieving long-term climate goals.
Click here to read the report.
