Website revamping called for amidst ongoing crises

In the wake of the COVID-19 pandemic, businesses worldwide are facing increased scrutiny on their alignment with the United Nations Sustainable Development Goals (SDGs). This shift in focus is likely to become more prevalent in the future, as companies are increasingly measured by their commitment to these global goals.

One retail giant that has demonstrated this commitment is Costco. The company has implemented a series of measures to prioritise the safety of its employees and customers, including the mandatory use of face masks during shopping and dedicating specific hours for those over 60 and healthcare workers.

Costco's actions during the crisis have not only ensured the safety of its community but also have positively impacted its ability to sustainably increase profits. This is a trend that is being observed across various industries, as companies' responses during the pandemic are shaping their ESG (Environmental, Social, and Governance) quality.

While specific companies that significantly improved their ESG quality during the crisis are not explicitly named, it is noted that about 27% of companies have systematically implemented ESG measures during or after the crisis. These companies have integrated sustainability efforts more deeply into their business strategies, leading to improved reputation and competitive advantages.

For instance, Ferrari has assisted its employees during temporary production halts, while Portuguese retailer Jerónimo Martins has prioritised efficient supply chains and offered bridging loans to its suppliers during the crisis.

The pandemic has underscored the importance of a company's response reflecting how well its business practices align with the SDGs. Companies that prioritise the safety and well-being of their employees, customers, and suppliers, and demonstrate resilience and adaptability in times of crisis, are likely to be recognised for their commitment to sustainability and long-term success.