The Global Deal welcomes the World Benchmarking Alliance (WBA) as a new partner. WBA is a non-profit organisation holding influential companies accountable for their part in achieving the Sustainable Development Goals. By publishing benchmarks on companies' performance, and with an Alliance of over 350 stakeholders, it highlights best practices from leading companies and incentivises laggards to catch up.
WBA has identified seven systems transformations that have a potential to put our society, planet and economy on a more sustainable and resilient path. These transformations range from themes such as climate, nature, finance, urban, food, digital inclusion, but also social aspects around corporate human rights, companies acting ethically and providing decent work, which are embedded in all of the other transformations. WBA’s benchmark analysis spotlights areas for improvement allowing governments to develop tailored policies, civil society to drive partnership efforts and investors to leverage their influence within companies.
As part of their first commitment to the Global Deal, WBA will incentivise more companies and governments to promote and implement social dialogue to advance a just transition to a low-carbon economy and ensure more effective human rights due diligence. For example, WBA released in 2021 the Just Transition Assessment which includes social dialogue and stakeholder engagement as key areas of measurement. As part of their second and third commitment to the Global Deal, WBA will facilitate knowledge sharing through strengthening its communities of practice and will disseminate good practices on social dialogue through the expansion of its multi-stakeholder Alliance.