While family businesses account for two thirds of all enterprises worldwide, the full scope of their impacts is largely unknown since the majority of them are privately owned and, in turn, are often not subject to the same level of scrutiny demanded of publicly traded firms. This has recently begun to change as more business families expand the concept of responsible ownership to include a deeper understanding of their impacts and an increased commitment to transparency.
To encourage sustainability reporting and higher levels of transparency, FBSD is launching its online platform to benchmark and track progress against the Sustainability Indicators for Family Business (SIFB). The SIFB build upon UNCTAD’s guidance on core indicators (see Guidance on Core Indicators for Entity Reporting on the Contribution towards the Attainment of the Sustainable Development Goals), as well as custom family business indicators, recognizing the distinctive attributes of family business models and considering metrics that guide and help advance sustainability practices and facilitate contributions to the SDGs.
The Sustainability Indicators for Family Business platform provides an online template to guide and assess the implementation and reporting of actions by individual companies, to help spur sustainability considerations among business owning families, and to help family businesses to champion a transparent sustainability path that they can measure and report.
Issues to be addressed
- Learn from families that have taken the lead on thinking on the business imperative of transparency and reporting.
- Discover how the SIFB can help a family business to track, measure and report on key sustainability metrics.
- Explore the SIFB in detail through illustrative cases.
- Understand how to get started on your sustainability journey and measure your progress.