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As part of Bank Audi’s commitments to the UN Global Compact (UNGC) and within the programs proposed, the Bank has signed on two new programs: the SDG (Sustainable Development Goals) Ambition Accelerator and the Target Gender Equality (TGE).
SDG Ambition is an accelerator initiative that aims to challenge and support participating companies of the UNGC in setting ambitious corporate targets and accelerating integration of the 17 SDGs into core business management. SDG Ambition enables companies to move beyond incremental progress and step-up transformative change – unlocking business value, building business resilience, and enabling longterm growth.
The need for SDG Ambition today is clear. The world is not delivering progress towards the SDGs at the pace and scale needed. While it is still possible to shift the world and achieve the SDGs by 2030, it will take urgent, scalable and multi-stakeholder action to dramatically accelerate progress. Companies must take a clear stand and demonstrate bold leadership to transform business models and economies so they become more just and inclusive – leaving no one behind.
As you may already know, Bank Audi pledged towards five goals back in 2016. SDG 4, Quality Education where we currently rate at 63.4%. SDG 5, Gender Equality scored at 63%. SDG 8, Decent Work and Economic Growth, which we champion in Lebanon and our score at end 2020 was 78.8%. SDG 9, Industry, Innovation and Infrastructure places us at 93.1%. Finally, SDG 13, Climate Action where we scored 56%. Bear in mind that these scores are scaled on our business model, internal operations, supply chain, and collective action.
The current global impact of the pandemic has slowed down global commitments towards these ambitious goals. Hence the inspiration provided by the UNGC to help organizations and governments get back on track through such a program. The action plan invites institutions to prioritize goals as relevant to business types/sectors and to integrate these within company strategy within responsible, intentional, ambitious and aligned principles. By amplifying the positive and considering the 5 Ps – Planet, People, Prosperity, Peace and Partnership. Where one needs to look further than compliance and mitigate the negative as basic, principle-approached strategy in order to contribute to the 2030 Agenda. The program particular warns on “cherry picking” and SDG washing with “easy” leads amplified and negative impacts ignored.
Evidently, SMART steps are important as they incentivize and motivate performance and internal communication invites us all to relate and perhaps even commit. The expected outcome is a sustainable future; the journey will create opportunities for business and consumer satisfaction. This ambitious program was aligned with Bank Audi’s CSR strategy and the Bank opted to use the Global Track to participate, while being - together with INDEVCO - the only two institutions in Lebanon which have embarked on this initiative.
The second program, TGE, is relevant to our pledge to SDG 5 – Gender Equality but, of course, overlaps several other SDGs. Women’s leadership and more equitable representation in business is essential to drive business performance and advance corporate sustainability. Yet, progress around the world is alarmingly slow. At the current pace of change, it will take 257 years to close the economic gender gap! The TGE initiative is providing companies with the opportunity to deepen implementation of the Women’s Empowerment Principles (WEPs) and strengthen their contribution to SDG 5.5, which calls for equal women’s representation, participation, and leadership in business globally. Participating companies map out strategic priorities in furthering progress and making gender equality a reality by implementing inclusive workplaces that work for everyone.
Through facilitated performance analysis, capacity building workshops, peer-to-peer learning and multi-stakeholder dialogue at the country-level, TGE supports companies in setting and reaching ambitious corporate targets for women’s representation and leadership, starting with the Board and Executive Management levels. The program enables companies to engage in accelerated learning opportunities specific to the Lebanese context to strengthen women’s representation and leadership in their business. It helps set ambitious and realistic corporate targets for gender equality and communicate these commitments to various relevant stakeholders.
More than 2,000 companies across geographic regions, industries, and sizes are using the WEPs Gender Gap Analysis Tool to assess their progress. At Bank Audi, we have always been proud to report our female to male numbers as 48% vs. 52% across grading.
During the introductory session held in January, case studies of best practices from Deloitte, Medtronic and Unilever were discussed as inspiration for strategic and tactical guidance and orientation for Gender Equality target-setting.
We were also exposed to the five hallmarks of inclusion: valued, trusted, authentic, psychological safety – latitude, and physiological safety – risk taking. These alongside to leadership support, communicating internally, engaging and accountability to track progress.
The next modules will be based on increasing gender balance in boardrooms where research shows that increasing women’s representation on corporate boards improves business outcomes in multiple ways, ranging from increased revenues and profits to strengthened ESG performances. It is understood that board diversity is critical to business performance and sustainability where an intersectional lens can be used to bring women of diverse backgrounds with differing identities and abilities to the table and increased and investor expectations, as well as stock exchange listing requirements are incentivizing businesses to prioritize board diversity. Diverse examples about the many strategies that companies have taken to achieve gender balance on boards and ensure that women’s perspectives are equally valued in decision-making.
Nevertheless, progress has been alarmingly slow. In 2018, women held only about 17% of all corporate board seats worldwide and 20% of Fortune Global 200 companies have all-male boards.
SDG Ambition is an accelerator initiative that aims to challenge and support participating companies of the UNGC in setting ambitious corporate targets and accelerating integration of the 17 SDGs into core business management. SDG Ambition enables companies to move beyond incremental progress and step-up transformative change – unlocking business value, building business resilience, and enabling longterm growth.
The need for SDG Ambition today is clear. The world is not delivering progress towards the SDGs at the pace and scale needed. While it is still possible to shift the world and achieve the SDGs by 2030, it will take urgent, scalable and multi-stakeholder action to dramatically accelerate progress. Companies must take a clear stand and demonstrate bold leadership to transform business models and economies so they become more just and inclusive – leaving no one behind.
As you may already know, Bank Audi pledged towards five goals back in 2016. SDG 4, Quality Education where we currently rate at 63.4%. SDG 5, Gender Equality scored at 63%. SDG 8, Decent Work and Economic Growth, which we champion in Lebanon and our score at end 2020 was 78.8%. SDG 9, Industry, Innovation and Infrastructure places us at 93.1%. Finally, SDG 13, Climate Action where we scored 56%. Bear in mind that these scores are scaled on our business model, internal operations, supply chain, and collective action.
The current global impact of the pandemic has slowed down global commitments towards these ambitious goals. Hence the inspiration provided by the UNGC to help organizations and governments get back on track through such a program. The action plan invites institutions to prioritize goals as relevant to business types/sectors and to integrate these within company strategy within responsible, intentional, ambitious and aligned principles. By amplifying the positive and considering the 5 Ps – Planet, People, Prosperity, Peace and Partnership. Where one needs to look further than compliance and mitigate the negative as basic, principle-approached strategy in order to contribute to the 2030 Agenda. The program particular warns on “cherry picking” and SDG washing with “easy” leads amplified and negative impacts ignored.
Evidently, SMART steps are important as they incentivize and motivate performance and internal communication invites us all to relate and perhaps even commit. The expected outcome is a sustainable future; the journey will create opportunities for business and consumer satisfaction. This ambitious program was aligned with Bank Audi’s CSR strategy and the Bank opted to use the Global Track to participate, while being - together with INDEVCO - the only two institutions in Lebanon which have embarked on this initiative.
The second program, TGE, is relevant to our pledge to SDG 5 – Gender Equality but, of course, overlaps several other SDGs. Women’s leadership and more equitable representation in business is essential to drive business performance and advance corporate sustainability. Yet, progress around the world is alarmingly slow. At the current pace of change, it will take 257 years to close the economic gender gap! The TGE initiative is providing companies with the opportunity to deepen implementation of the Women’s Empowerment Principles (WEPs) and strengthen their contribution to SDG 5.5, which calls for equal women’s representation, participation, and leadership in business globally. Participating companies map out strategic priorities in furthering progress and making gender equality a reality by implementing inclusive workplaces that work for everyone.
Through facilitated performance analysis, capacity building workshops, peer-to-peer learning and multi-stakeholder dialogue at the country-level, TGE supports companies in setting and reaching ambitious corporate targets for women’s representation and leadership, starting with the Board and Executive Management levels. The program enables companies to engage in accelerated learning opportunities specific to the Lebanese context to strengthen women’s representation and leadership in their business. It helps set ambitious and realistic corporate targets for gender equality and communicate these commitments to various relevant stakeholders.
More than 2,000 companies across geographic regions, industries, and sizes are using the WEPs Gender Gap Analysis Tool to assess their progress. At Bank Audi, we have always been proud to report our female to male numbers as 48% vs. 52% across grading.
During the introductory session held in January, case studies of best practices from Deloitte, Medtronic and Unilever were discussed as inspiration for strategic and tactical guidance and orientation for Gender Equality target-setting.
We were also exposed to the five hallmarks of inclusion: valued, trusted, authentic, psychological safety – latitude, and physiological safety – risk taking. These alongside to leadership support, communicating internally, engaging and accountability to track progress.
The next modules will be based on increasing gender balance in boardrooms where research shows that increasing women’s representation on corporate boards improves business outcomes in multiple ways, ranging from increased revenues and profits to strengthened ESG performances. It is understood that board diversity is critical to business performance and sustainability where an intersectional lens can be used to bring women of diverse backgrounds with differing identities and abilities to the table and increased and investor expectations, as well as stock exchange listing requirements are incentivizing businesses to prioritize board diversity. Diverse examples about the many strategies that companies have taken to achieve gender balance on boards and ensure that women’s perspectives are equally valued in decision-making.
Nevertheless, progress has been alarmingly slow. In 2018, women held only about 17% of all corporate board seats worldwide and 20% of Fortune Global 200 companies have all-male boards.
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