Advancing the pursuit of the United Nations Sustainable Development Goals: Initiatives of selected publicly listed companies in the Philippines

Abstract

We probed what are the sustainability initiatives of the selected Publicly Listed Companies in the Philippines that are advancing the pursuit of the UN Sustainable Development Goals, particularly on Good Health and Well-Being and Quality Education. Specifically, we mapped the sustainability programs implemented by the sample companies that are aligned with the 17 UN SDGs. We also determined if these UN SDGs are embedded and articulated in their corporate vision-mission statements. Then, we identified the explicit programs that were implemented by the selected firms that are advancing the pursuit of a few specific targets of SDG#3 and SDG#4. We anchored our study on the theories of Sustainable Development and Humanistic Management and used qualitative descriptive and exploratory research designs. We utilized purposive sampling to select the 20 Publicly Listed Companies based on four criteria. We employed content analysis to determine their specific programs from their Sustainability Reports and/or Annual Reports. Our numeral mapping analysis revealed that the average number of implemented programs related to the 17 UN SDGs by the sample corporations is 11(65%). Companies are pursuing all 17 SDGs while some implemented only six programs. Our data further showed that overall, 15 out of 20 (75%) corporations have articulated and embedded the essence of the UN SDGs either in their vision or mission or combined vision-mission statements. On SDG#3, our findings disclosed that all (100%) of the 20 sampled corporations implemented definite programs for "ending epidemics and communicable diseases" with specific reference to the COVID-19 pandemic in 2020. On SDG#3, our findings divulged that 13 out of the 20 (65%) sampled firms implemented specific programs that directly addressed the target of "achieving health coverage and wellness for all at all ages." On SDG#4, our results indicated that all (100%) of the 20 sample corporations have implemented programs on quality education. Our propositions that there are specific sustainability programs implemented by the selected Publicly Listed Companies that contributed to achieving Health and Well-Being, as well as Quality Education, were confirmed. We recommended including non-publicly listed companies across industries, increasing the sample size, and using of mixed method design in the methodology for a more rigorous investigation of the achievements and impact of SDG target indicators for future research. ReferencesApex Mining Co., Inc (2020). Sustainability Report. http://www.apexmines.com/wp-content/uploads/2021/05/2020-Sustainability-Report-Final.pdfAyala Land (2020). Integrated Report. https://ir.ayalaland.com.ph/wpcontent/uploads/2021/04/ALI-AR-2020-20210420_WEB-1.pdfBenedictus PP. XVI. (2007). Letter of His Holiness Benedict XVI to the Ecumenical Patriarch of Constantinople on the occasion of the seventh symposium of the Religion, Science, and the environment movement. Libreria Editrice Vaticana.BDO Unibank, Inc. (2020). Sustainability Report. https://www.bdo.com.ph/sites/default/files/pdf/BDO-2020-Sustainability-Report.pdfBrundtland, G. H. (1987). Our common guture—call for action. Environmental Conservation, 14(4), 291–294. http://www.jstor.org/stable/44518052Buckley, P. J., Doh, J. P., & Benischke, M. H. (2017). Towards a renaissance in international business research? Big questions, grand challenges, and the future of IB scholarship. Journal of International Business Studies, 48(9), 1045–1064.Centro Escolar University (2020). Annual Report. http://corporate.ceu.edu.ph/static/media/CEU17A-2020.pdfCreswell, J. (2014). Research design: Qualitative, quantitative, and mixed methods approach (4th ed.). Sage Publications.Del Monte (2020). Sustainability Report. https://www.delmontephil.com/hubfs/sustainability/sustainability-report/00,%20Del%20Monte%20FY2020%20Sustainability%20Report.pdfDror, E., Kypraios, E., & Forgues, B. (2019). Employing Finance in Pursuit of the Sustainable Development Goals: The Promise and Perils of Catastrophe bonds https://journals.aom.org/doi/abs/10.5465/amd.2018.0137Edralin, D. & Pastrana, R. (2019). Sustainability initiatives and practices of selected top universities in Asia, Europe, and the USA. Bedan Research Journal. 4, April,24-45.Edralin, D. & Pastrana, R. (2020). The Nexus between Sustainable Business Practices and the Quest for Peace. Bedan Research Journal.Elkington, J. (2018, June 25). 25 years ago I coined the phrase “triple bottom line.” Here’s why it’s time to rethink it. Harvard Business Review. https://hbr.org/2018/06/25-years-ago-i-coined-the-phrasetriple-bottom-line-heres-why-im-giving- up-on-it.Ercoskun, O. Y. (2005). Sustainable City Plans against Development Plans. https://dergipark.org.tr/en/download/article-file/83293Far Eastern University (2020). Annual Report. https://investors.feu.edu.ph/reports%20new%20format/2021/01072021/ASM2020_FEU_Chairman's%20_AnnualReport2020_Final_Updated(1)%20(1).pdfFraisl, D., Campbell, J., See, L., When, U., Wardlaw, J., Gold., M., Moorthy, I., Arias, R., Piera, J., Oliver, J., Maso, J., Penker, M., and Fritz, E. (2020). Mapping citizen science contributions to the UN sustainable development goals. Sustain Sci 15, 1735–1751. https://doi.org/10.1007/s11625-020-00833-7Freeman, R. E. (1994). The politics of stakeholder theory: Some future directions. Business Ethics Quarterly, 4(4), 409–421. https://doi.org/10.2307/3857340George, G., Howard-Grenville, J., Joshi, A., & Tihanyi, L. (2016). Understanding and tackling societal grand challenges through management research. Academy of Management Journal, 59(6), 1880–1895.Global Compact, United Nations. (2006). What is the Global Compact? https://www.unglobal compact.org/aboutGlobe (2020). Integrated Report. https://www.globe.com.ph/content/dam/globe/brie/About-s/sustainability/documents/GLO_IR2020.pdfHoward-Grenville, J., Davis G. F., Dyllick, T., Miller, C. C., Thau, S., & Tsui, A. S. (2019) Sustainable development for a better world: contributions of leadership, management, and organizations. Academy of Management Discoveries, 5(4), 355–366.Johnson, G., Whittington, R., Scholes, K., Angwin, D and Regner, P. (2014). Exploring Strategy, 10th Edition. Pearson Education, Ltd.Jollibee Foods Corp. (2020). SEC Sustainability Report. https://bucketeer-9d45a0bc-28bd-439b-9619-e2bfda478d44.s3.amazonaws.com/public/uploads/ETnPKOuI-FINAL-JFC-2020-SEC-Sustainability-Report-with-Audited-Figures.pdfLBC Express Holdings, Inc. (2020). Annual Report. https://lbcexpressholdings.com/files/2021/09/17/1318/LBCEH_2020_Annual_Report.pdfLu, Y., Nakicenovic, N., Visbeck, M., & Stevance, A. (2015). Five Priorities for the UN Sustainable Development Goals. Nature, 520(7548), 432–433.Megaworld (2020). Annual Report. https://www.megaworldcorp.com/investors/sites/investors/files/2021-06/MEG%202020%20Annual%20Report.pdfMele, D. (2013). Antecedents and current situation of humanistic management. African Journal of Business Ethics, 7(2), 52-61. https://www//doi.org/10.4103/1817-7417.123079]Meralco (2020). Sustainability Report. https://meralcomain.s3.apsoutheast-1.amazonaws.com/2021-07/2020_meralco_sustainability_report_for_web_063021.pdf?nullMetro Retail Stores Group, INC. (2020). Annual Report. https://www.metroretail.com.ph/images/Investor_Relations/Annual_Report/MRSGI_Annual_Report_2020.pdfMorseletto, P. (2020) Restorative and regenerative: Exploring the concepts in the circular economy. https://onlinelibrary.wiley.com/doi/full/10.1111/jiec.12987#:~:text=A%20link%20to%20a%20role,Jawahir%20%26%20Bradley%2C%202016).Pilipinas Shell (2020). Annual and Sustainability Report. https://pilipinas.shell.com.ph/sustainability/pilipinas-shell-annualsustainability-report-2020/_jcr_content/par/toptasks_copy.stream/1621654702710/a864f6dffad9daf8c7585772f2322923d148d6b7/pspc-asr-2020.pdfPhilex (2020). Annual and Sustainability Report. http://www.philexmining.com.ph/wp-content/uploads/2020/Philex%20Mining%202020%20Annual%20Report%20FA.pdfPhilippine Airlines (2020). Sustainability Report. https://phi.com.ph/wpcontent/uploads/bsk-pdf-manager/2021/08/Sustainability-Report-2020.pdfPLDT (2020). Sustainability Report. https://pldt.com/docs/defaultsource/annual-reports/2020/pldt-2020-interactive-sr.pdf?sfvrsn=0Robinson Retail (2020). Annual and Sustainability Report. https://www.robinsonsretailholdings.com.ph/wp-content/uploads/2021/06/Salute-to-Frontliners-RRHIs-2020-Annual-and-Sustainability-Report.pdfRousseau, H. E., Berrone, P., & Gelabert, L. (2019). Localizing sustainable development goals: nonprofit density and city sustainability. Academy of Management Discoveries, 5(4), 487– 513.Sachs, J. D., Schmidt-Traub, G., Mazzucato, M., Messner, D., Nakicenovic, N., & Rockström, J. (2019). Six transformations to achieve the sustainable development goals. Nature Sustainability, 2(9), 805–814.San Miguel Corporation (2020). Annual Report. https://www.sanmiguel.com.ph/storage/images/article/file/SMC%20AR%202020_0601Aforweb.pdfSaunders, M., Lewis, P., & Thornhill, A. (2019). Research methods for business students (8th ed.). Pearson Education Limited.SM Investments Corporation (2020). Sustainability Report. https://www.sminvestments.com/wp-content/uploads/2021/05/SMIC-Integrated-Report-2020.pdfSpreitzer, G. (2007) Giving peace a chance: organizational leadership, empowerment, and peace https://onlinelibrary.wiley.com/doi/abs/10.1002/job.487Sustainable Energy Fund (2021), Regenerative Organizations: Developing an Understanding of How We Work. https://www.thesef.org/regenerative-organizations/#:~:text=Regenerative%20organizations%20use%20or%20develop,work%20in%2C%20and%20Earth%20itselfUN (2016). Report of the Inter-Agency and Expert Group on Sustainable Development Goal Indicators. https://unstats.un.org/unsd/statcom/47th-session/documents/2016-2-iaeg-sdgs-rev1-e.pdfUN (2017). The Sustainable Development Goals Report. https://unstats.un.org/sdgs/files/report/2017/TheSustainableDevelopmentGoalsReport2017.pdfUN (2015) Transforming our world: the 2030 agenda for sustainable development. Resolution adopted by the General Assembly on 25 September 2015.https://www.un.org/ga/search/view_doc.aspUN News Centre (2015). UN forum highlights the' fundamental' role of the private sector in advancing new global goals. https://news.un.org/en/story/2015/09/509862-un-forumhighlights-fundamental-roleprivate-sector-advancing-new-global-goals#.VgcFQmRVikoUnion bank (2020). Sustainability Report. https://www.unionbankph.com/sites/default/files/202104/2020_UBP_SR_SEC_April_15_opt.pdfUnited Nations Educational Scientific and Cultural Organization (UNESCO). (2005). UN Decade of Education for Sustainable Development 2005 – 2014. http://unesdoc.unesco.org/images/0014/001416/141629e.pdfVan Zanten, J. A. & Van Tulder, R. (2018). Multinational Enterprises and the Sustainable Development Goals: An Institutional Approach to Corporate Engagement. Journal of International Business Policy 1(3–4): 208-233.Virji, H., Sharifi, A., Kaneko, S., & Simangan, D. (2019). The sustainability–peace nexus in the context of global change. Sustain Science, 14(6), 1467–1468. https://doi.org/10.1007/ s11625-019-00737-1Von Kimakowitz, E., Spitzeck, H., Pirson, M., Dierksmeier, C., Amann, W. (Eds.) (2011). Humanistic management in practice. Palgrave Macmillan.World Commission on Environment and Development / Brundtland Commission (1987). Report of the World Commission on Environment and Development: Our common future. Oxford University Press.World Health Organization. (2022). Third round of the global pulse survey on continuity of essential health services during the COVID-19 pandemic. https://apps.who.int/iris/bitstream/handle/10665/351527/WHO-2019-nCoV-EHS-continuity-survey-2022.1-eng.pdf?sequence=1World Wildlife Fund (WWF). 2018. The living planet report. https://www.wwf.org.uk/updates/living-planet-report-2018. Wang, C., Guan, D., & Cai, W. (2019). Grand challenges cannot be treated in isolation. One Earth, 1(1), 24–26Wang, C., Guan, D., & Cai, W. (2019). Grand challenges cannot be treated in isolation. One Earth, 1(1), 24–26