What is ACT?
ACT is a way for co-ops to illustrate their contribution to sustainability and to demonstrate their difference through the 7 Principles of Cooperatives.
Increasingly, investor-owned businesses (IOBs) are implementing sustainable procurement policies. It is important for co-ops to illustrate how they are unique by linking Sustainable Development Goals (SDGs) to the 7 principles of co-operatives. There is a tremendous need to:
- Improve co-ops’ awareness of SDGs
- Help co-ops differentiate themselves by reporting on their SDGs
- Support small to medium sized co-ops to measure and report on their SDG performance
How does sustainability benefit co-operatives?
Co-ops are responding to pressure from members who want them to consider the SDGs in their operations. This will require cooperatives to adopt sustainable practices.
According to a Harvard Business Review article, adopting sustainability practices:
- Increases stakeholder engagement
- Improves risk management
- Fosters innovation
- Improves financial performance
- Builds customer loyalty
- Attracts employees
Why is the link between SDG’s and the 7 Principles important?
SDGs are consistent with the co-operative identity as expressed through the 7 principles.
Reporting on the SDGs in the context of the seven principles enables co-operatives to illustrate their co-operative difference from investor-owned businesses who are increasingly reporting on SDG performance.
Why participate in the ACT project?
Through act.coop—a made for co-ops by co-ops measurement and reporting dashboard—co-operatives will be able to easily connect the dots on their performance to co-operative principles to the SDGs.
act.coop will enable co-operatives to better understand and communicate their SDG impact, allow for comparison to their peers, and foster performance benchmarking.