Balancing profits and responsibility

Mazars, the global international audit and advisory firm, has been a longstanding partner and advocate of the Sustainable Development Goals (SDGs) set by the United Nations Development Programme, as highlighted by its latest article in the Global Goals Yearbook 2018, a publication published on 3 September under the auspices of the Macondo Foundation. However, Mazars goes one step further with its commitments by supporting businesses, via dedicated expertise, in creating greater value for all by being more sustainable.

A significant part of the current debate on the advancement of these SDGs now revolves around the fact that the value created by companies and their ecosystems cannot be understood by relying solely on financial indicators. Yet, the difficulty lies in how to provide verifiable information on the intangible value created by companies. The Mazars Sustainability Leadership Team, which comprises four leaders – Edwige Rey (France), Jerome Devillers (USA), Kai M. Beckmann (Germany), and Richard Karmel (UK) – demonstrates in its latest article published in the Global Goals Yearbook 2018, the link between sustainability and profitability.

The multifaceted and complex nature of non-financial reporting, as well as all the diverse parameters involved, are not always obvious for companies. For instance, take the example of water: “without a proper understanding of a company’s operational dependence on water – or of its suppliers’ dependence on water sources – companies are at risk of destroying value for shareholders and exposing themselves to major reputational risks”, explains Jerome Devillers. Therefore, it is only when companies take into consideration the entire scope of their impact on society, that they can understand the undeniable link between the health of their communities and their long-term growth prospects. If Corporate Social Responsibility (CSR) is seen only as a compliance matter, it remains a cost – and little value is achieved. Acting responsibly, as well as respecting people and the environment, needs to be built into the broader business model.

This is where Mazars can step in as a privileged business partner. Mazars believes in doing ‘Business. For Good®’. As a global audit and advisory firm, Mazars sees it as its duty to work towards a more inclusive, responsible and sustainable world. It helps business leaders to think and act long-term in order to enhance business performance and pursue profit responsibly for the benefit of companies, their stakeholders, and the wider society.

Through knowledge, tools, and services, ‘Business. For Good®.’ was built to help Mazars itself, its clients, and stakeholders become truly sustainable actors, at all levels. With global experts able to respond to increasing challenges within a more demanding and disparate CSR regulatory system, Mazars is in a position to serve and advise ever more complex clients.

Mazars is proud to be the Gold Sponsor of the 2018 Global Goals Yearbook – a publication published under the auspices of the Macondo Foundation, in support of the SDGs and the advancement of corporate sustainability globally. The Yearbook offers in-depth information on key sustainability issues and promotes comprehensive knowledge-ex- change and learning in the spirit of the SDGs and the 10 Principles of the UN Global Compact. The Global Goals Yearbook helps to advance corporate transparency, promotes the sharing of good business practices and, perhaps most significantly, gives a strong voice to the regional and global stakeholders that are at the heart of the sustainability agenda.

This year’s edition, ‘Partnerships for the Goals’, discusses the many ways in which privatesector engagement can be improved. Recommendations include a revision of multilateralism, partnership models and processes, as well as investing more in trust, a failure culture, metrics and monitoring.