· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Eurasia Review or enjoy below:
🗞️ Driving the news: Multinational enterprises (MNEs) are failing to meet global sustainability goals and, in some cases, exacerbating the problems they claim to address, according to a new University of Surrey study
• The research highlights how MNEs often prioritize profit over meaningful sustainable innovation
🔭 The context: The study, analyzing MNEs across advanced and emerging economies, found that companies tend to adopt superficial compliance measures or use sustainability initiatives as marketing tools
• By neglecting local stakeholder knowledge, these firms undermine their potential for meaningful impact
🌍 Why it matters for the planet: The disconnect between MNEs' sustainability claims and their practices jeopardizes progress toward the UN Sustainable Development Goals (SDGs)
• Genuine innovation is needed to address pressing issues like climate change, inequality, and political instability
⏭️ What's next: The research urges MNEs to deeply engage with local contexts and stakeholders to foster collaborative, sustainable solutions
• A shift from box-ticking to true innovation is essential for real progress
💬 One quote: “Our findings challenge the notion that multinational enterprises (MNEs) are inherently beneficial for sustainable development. Many are simply ticking boxes rather than innovating in ways that truly address the pressing challenges faced by local communities.” – Dr. Shasha Zhao, University of Surrey
📈 One stat: Only 39% of multinational enterprises (MNEs) have set science-based targets to align with global sustainability goals, highlighting significant gaps in corporate climate commitments. – Science Based Targets initiative (SBTi)
Click for more news covering the latest on corporate sustainability
