As a company which is focused on adding value through the use of technology and innovative ideas, we are well informed of the importance of working towards attaining the aims set in the UN Sustainable Development Goal (SDG) 8. We are aware of the SDG 8 which insists on “Decent Work and Economic Growth”(Costanza et al., 2016) where it aims to ensure a situation where there is sustainable economic growth which guarantees the people have quality jobs which work in handy with economic growth and preservation of the environment. Optus acknowledges this goal set by the UN on the role of all stakeholders regarding their position in making sure we work towards attaining the Goals of the SDG 8. One of the CSR issues that we have identified which relates to Optus’ business is economic responsibility(Kates, 2018). Economic responsibility emphasizes the activities and practices that are geared towards facilitating the long-term growth and development of business with considerations towards meeting the standards set for philanthropic, environmental and ethical practices.
Introduction
For the last few years, we have been engaged in programs that apply technology and expertise as a means of facilitating an accelerated problem-solving measure that can offer a positive impact on the society across different regions of the world. As a company placed on the forefront of using information technology to ensure the growth towards economic growth and sustainability, we have managed to show the value of investing in technology and people at early stages of development to create an avenue to scale solutions to environmental and social challenges. Also, we have managed to highlight how working through partnerships in the society and marginalized communities can facilitate the opening of doors to innovation and progress which will enable an extensive and prosperous global economic growth and sustainability. Everyone has the potential to become a problem solver on a global platform through innovative ideas and acting as a social change agent. Our core focus has been on the areas of the society, people and the planet where we identify CSR priorities which are relevant to Optus’ business and where we can make the greatest impact.
Discussion
CSR Issue Towards Sustainable Development Goal 8
At Optus, we have created a strategic approach through our products and services where we are engaged in building long-term and sustainable growth for our business without neglecting the four pillars of sustainability as we work towards leadership and providing a positive image(Stafford-Smith, 2014). We have focused on working towards creating opportunities that offer the most significant impact on the society through innovative programs and our operations. In the financial year of 2018, we introduced more scientific approaches that will ensure there is a clear identification of the CSR issue of economic responsibility through identification of targets that will impact and stimulate action towards 2030(Hák et al., 2016). We acknowledge that economic responsibility goes beyond the need to attain profits and growth within the organization at the expense of the ethics, philanthropic and environmental practices. Following this understanding, we are keen to identify targets that require our immediate attention particularly in our countries of operation and the supply chains in place.
The UN Sustainability and Development Goal 8 focuses on providing a state of sustainable economic growth which can be achieved through quality jobs. The CSR issue we have identified at Optus focuses on the economic responsibility of organizations in working towards the SDG. Over the last few years, we have channelled our resources towards education and employment as a measure to work towards attaining SDG 8(Stafford-Smith et al., 2017). One of our flagship programs is the student2student program which works with the aim of ensuring there is equal opportunity when it comes to empowerment through education especially when it comes to offering services to the marginalized and disadvantaged groups in the society(Lu et al., 2015). We recognised the importance of the issue of economic responsibility and the need to focus on this issue above all other challenges associated with CSR. We are aware of the increasing demand for economic sustainability and growth which can only be achieved through proper partnerships and adequate channelling of resources towards community initiatives.
Figure 1
Source: “Optus Sustainability Report 2018,” (2018)
Optus has had the opportunity to connect over 90% of the Australian population through its vast network coverage(Tran, 2018). Despite the success we have witnessed in this area where we have been able to work towards meeting the economic goals, we are aware of the environmental impact made by our growth. Part of SDG 8 insists on the need for economic growth while ensuring there are measures in place to avoid any harm to the environment(Tai and Chuang, 2014). We are focused on coming up with innovative, science-based targets that makes sure Optus is in line with coming up with technology that will ensure growth and reduction of global warming goals towards 2030.
We are aware of the need to foster economic growth and environmental preservation by monitoring and managing the impact of Optus in mater of pollution and global warming. Since SDG 8 cannot be accomplished without consideration of the environment and its preservation(Schwartz, 2017). We have strategies in place that will ensure Optus makes use of its broad coverage to influence initiatives that strike a balance between economic growth and the environment. Alongside our commitment to the Taskforce on Climate-Related Financial Disclosures (TCFD), we are focused on ensuring we engage in growth that maintains a lower emissions threshold by 2030(McWilliams, 2015). Through measure associated with environmental management systems, we have been able to focus on training and equipping different groups in the community to ensure there are job creation and awareness of their responsibility towards a conducive environment.
Conclusion
We believe quality jobs requires proper education and opportunities which will ensure there are qualified individuals in the workforce pool. Quality jobs which are the solution identified in the SDG 8 can be achieved through quality jobs(Grinstein and Blekher, 2015). The student2student program which was initiated through a partnership with The Smith Family has been able to educate and empower over 500 students where there was a 94% success rate through this venture. Focusing on the future, we are planning to increase our partnerships with other like-minded individuals and organizations where we will be able to use our broad network to reach the disadvantaged and vulnerable groups in the society who can benefit through the initiative(Clapp and Rowlands, 2014). We are working towards targeting more groups in the community that require empowerment through our education programs which will ensure we reach a state of sustainable economic growth and development.
Recommendation
Economic responsibility is one of the issues associated with CSR which can determine the ability of the organization to work towards attaining the goals of the SDG 8. We are aware that the company has to work towards a profitable outcome to be able to engage in its CSR mandates which are in line with the SDG. One of the factors associated with economic responsibility deals with items such as taxes and government policies which may affect the ability of the company to attain its CSR goals(Stafford-Smith, 2014). At Optus, we acknowledge the challenge posed by external influence on the company’s operations which may hinder its ability to engage in economic responsibility. We are working on coming up with technology and innovations that will ensure a reduction in the overall costs and provide for an avenue where Optus can balance the external factors and maintain its duty towards CSR.
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