285
Similarly, reported initiatives, in most cases, do not comply with the network’s
principles.
Concerning sustainability policy, the analysis shows even results among cases.
The investigation, however, found a high number of companies are not accountable
for either sustainability policy or performance. A situation that may compromise
overall corporate sustainability.
18.5 Impact Sustainability: Final Remarks
This study outlined the evolution of accountability theory and current practice in
alignment with a global network for corporate accountability. It highlighted the current state of accountability and approaches to corporate accountability applied to
day-to-day operations in the selected cases in the Asia and Pacific region. This
research is essential for businesses and governments interested in improving corporate accountability practices. Hopefully the conclusions and recommendations
below assist stakeholders in developing business accountability practices that truly
respond to impacts on the environment and the community. The authors also hope
this research provides some conceptual and practical instruments to fully exercise
accountability, contributing to the achievement of the Sustainable Development
Goal 17 (SDG 17) and its targets Multi-stakeholder partnerships (17.16 and 17.17)
and Data, monitoring and accountability. Although companies have a primary
responsibility to their shareholders, they are increasingly being tasked – through
international agreements and guidelines and in-country obligations with social and
environmental responsibilities to external stakeholders. In this context, companies
need to contribute to ensuring the effective development, provision, and assessment
of corporate accountability practices, which must be a constituent component of the
business strategy enabling them to become more accountable to external stakeholders. Although this research focused on selected cases in Asia and the Pacific region,
the conclusions are highly likely to be applicable to other locations in the region and
elsewhere.
If the fostering of business accountability is identified as a corporate goal, then
companies need to be more active in support of this and to be more accountable to
external stakeholders. While corporate accountability agendas are vital to achieve
development aspirations and protect the environment, in practice they have serious
constraints. Lack of government support to encourage corporate accountability and
limited corporate capacity for external accountability are two of the main obstacles
that hinder business accountability practices. It is recommended that the international community plays an active role in advising and building corporate and government capacity on corporate accountability. It is equally important that both
governments and companies and global business networks further engage in collaborative approaches to corporate accountability, especially where it has been identified as being of high priority, thereby increasing opportunities to overall
sustainability.
18 SDG 17 Partnerships for the Goals
Similarly, reported initiatives, in most cases, do not comply with the network’s
principles.
Concerning sustainability policy, the analysis shows even results among cases.
The investigation, however, found a high number of companies are not accountable
for either sustainability policy or performance. A situation that may compromise
overall corporate sustainability.
18.5 Impact Sustainability: Final Remarks
This study outlined the evolution of accountability theory and current practice in
alignment with a global network for corporate accountability. It highlighted the current state of accountability and approaches to corporate accountability applied to
day-to-day operations in the selected cases in the Asia and Pacific region. This
research is essential for businesses and governments interested in improving corporate accountability practices. Hopefully the conclusions and recommendations
below assist stakeholders in developing business accountability practices that truly
respond to impacts on the environment and the community. The authors also hope
this research provides some conceptual and practical instruments to fully exercise
accountability, contributing to the achievement of the Sustainable Development
Goal 17 (SDG 17) and its targets Multi-stakeholder partnerships (17.16 and 17.17)
and Data, monitoring and accountability. Although companies have a primary
responsibility to their shareholders, they are increasingly being tasked – through
international agreements and guidelines and in-country obligations with social and
environmental responsibilities to external stakeholders. In this context, companies
need to contribute to ensuring the effective development, provision, and assessment
of corporate accountability practices, which must be a constituent component of the
business strategy enabling them to become more accountable to external stakeholders. Although this research focused on selected cases in Asia and the Pacific region,
the conclusions are highly likely to be applicable to other locations in the region and
elsewhere.
If the fostering of business accountability is identified as a corporate goal, then
companies need to be more active in support of this and to be more accountable to
external stakeholders. While corporate accountability agendas are vital to achieve
development aspirations and protect the environment, in practice they have serious
constraints. Lack of government support to encourage corporate accountability and
limited corporate capacity for external accountability are two of the main obstacles
that hinder business accountability practices. It is recommended that the international community plays an active role in advising and building corporate and government capacity on corporate accountability. It is equally important that both
governments and companies and global business networks further engage in collaborative approaches to corporate accountability, especially where it has been identified as being of high priority, thereby increasing opportunities to overall
sustainability.
18 SDG 17 Partnerships for the Goals