Why we’re raising our SDG Flag this September
As the 2030 deadline to meet United Nations Sustainable Development Goals nears, Standard Bank Offshore is firmly behind efforts to inject urgency into global efforts.
Standard Bank’s offices in Jersey and Isle of Man are joining in flying the SDG global flag campaign to accelerate efforts to meet the United Nations Sustainable Development Goals (SDGs). The 2024 SDG Flag event is being celebrated worldwide on 25 September.
The UK arm of this campaign was launched in 2022 and attracted the support of nearly 100 organisations. Standard Bank is participating this year together with more than 650 institutions across the UK and British Isles in a monumental act of solidarity.
This year marks the nineth anniversary of the international community's adoption of the United Nations SDGs: 17 goals that guide us to a more inclusive, just, and sustainable world by 2030; leaving us with just six more years to go until the target date. The SDGs are made up of a comprehensive framework of 17 goals, supported by 169 targets and 232 indicators to realise the human rights of all, achieve gender equality, eradicate poverty, combat catastrophic climate change, and protect our natural environment..
Standard Bank Offshore has identified several areas in which we believe we can have most impact as a financial institution, and our sustainability and Corporate Social Investment (CSI) strategies are also focus on areas such as climate change, job creation, equality, education, and health.
“As a subsidiary of a founding signatory of the United Nations Principles for Responsible Banking, we are ensuring that our strategy is consistent with and contributes to society’s needs and priorities,” says William Thorp, CEO of Standard Bank Offshore. “By raising an SDG flag, we are demonstrating our dedication to the UN Global Goals and highlighting the tangible actions we’re taking to address climate change, gender inequality, health and wellbeing, and decent work.
“With only 1 in 10 people in Britain familiar with the SDGs, raising the SDG flag this September is key to raising awareness and mobilising stakeholders for action. We encourage other like-minded organisations to join this global movement in championing the SDGs so that, together, we can achieve the 2030 Agenda.”
Only 16% of SDG targets are currently on track to be achieved by 2030. The remaining 84% show limited or a reversal of progress. Therefore, the need for action on the Goals is now greater than ever.
A milestone in transparency
“The financial sector has an important role to play in each of our communities and we have set ourselves challenging goals and know that we cannot do these alone - which is why we partner with businesses, charities, and local communities,” William says.
One such partnership is with a local sustainability expert who has been helping our offshore team with our SDG impact journey. We had already undertaken a large amount of work to better understand the sustainability impact on clients, employees, and communities in which we operate.
The annual impact assessment conducted by the consultants allows us to see where we are performing positively, negatively, and where we could have even deeper impact. It also allows us to see how we compare against our industry peers, how our operations align with global commitments and standards, and how much more valuable SDG impact measuring is than just ESG reporting alone.
A culture of Positive Impact
Standard Bank Offshore has a long tradition of engaging colleagues in CSR and charitable programmes.
Jennie Bronte-Hearne, Sustainability Specialist for Offshore, says a 2023 World Economic Forum report emphasises how shifts in job roles and skills are being driven by sustainability and the green transition, with employees increasingly seek roles that align with societal impact and sustainability goals.
“This shift resonates deeply with us as an employer and service provider,” she says, “which is why we’ve set ourselves challenging impact goals, closely aligned with the UN Sustainable Development Goals, relating to our operations, products and services, and our key stakeholder groups such as employees, clients, and our local communities. Our efforts are about taking responsibility and being transparent with our progress.
“Corporate social responsibility is a key driver of our organisational culture and is embedded within our standard practice. It aligns with our purpose and values, and as a principle, shapes many of our actions and decisions.”
The principles of being a responsible corporate citizen are therefore well entrenched, with regular contributions by way of employee volunteering, fundraising, and payroll-giving to local charities.
As we continue our journey towards 2030, we're committed to strengthening our partnerships and refining our strategies. We invite you to join us in this important mission. Together, we can achieve a more sustainable and equitable world for all.