Targets
A reality to be achieved in the future world, the ultimate goal. All goals are to some extent centred around the Sustainable Development Goals; all goals are aimed at achieving ‘good’ for humanity and our planet. The United Nations Sustainable Development Goals provide a structure for addressing some of our most serious challenges. Changing the way we work, produce and consume is of vital importance. Climate change, human working conditions, occupational injuries, the share of sustainable products in revenue, etc., targets can be set for each theme group. This depends entirely on your sector, your country's national contributions, SDG commitments, and the market.
The key to transformation lies in defining and aligning industry's aims, creating a roadmap, and striving to achieve a sustainable reality.
For example, climate change impacts are increasingly being faced, with certain parts of the world experiencing warming while others see increased rainfall patterns. To mitigate these impacts, alongside directly reducing greenhouse gas emissions, there should also be targets for how to avoid these impacts. Or turnover rates within the organisation; artificial intelligence and generational typologies have now set us and organisations on a different path. In contrast, what might the objectives be for maintaining human-organisational culture?
For the first time in human history, we needed to set global targets for sustainability. Failure to meet this need means failure in everything.
IFRS S1 & S2 and ESRS ask what your objectives are for avoiding risks and capitalising on opportunities (specifically for ESRS, to mitigate negative impacts and enhance positive ones). Not only that, but it also asks whether you have set targets for resource allocations towards the roadmap defined for these risks and opportunities (and impacts), and how you plan to achieve them. Targets can be short, medium or long-term. With the financial system directly involved in the game, achieving these objectives is becoming more dynamic. By setting final targets, interim targets, tracking progress, and explaining these in sustainability/activity reports, your stakeholders get insights into what the future holds and where you stand. This creates strong organisations.
See it on your own data
A short walkthrough with someone who knows the standards — no slide deck.