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The University of Sydney Business School has begun a comprehensive mapping of its teaching, research and operations against the UN SDGs, as part of its commitment to the UN鈥檚 (PRME).

Professor Greg Whitwell, Business School Dean, committed to aligning all units of study, research and operations to the SDGs in the School鈥檚 new five-year strategy, called Business Not As Usual 2.0.

鈥淥ur purpose as a business school is wrapped up with the notion of responsible management, which is why we became a PRME signatory in 2016,鈥� said Professor Whitwell at the recent launch of the School鈥檚 second PRME Sharing Information on Progress Report.

鈥淭his commitment is key in developing and equipping the next generation of business leaders with the knowledge and skills needed to effectively navigate the social inequity, climate and environmental challenges facing the world.鈥�

Lead author of the report, Dr Anna Young-Ferris, said, 鈥淔or too long the assumption underpinning the curriculum taught at business schools is that the fundamental responsibility of businesses is to maximise profits and to give primacy to shareholders.

"The SDGs give us a platform through which we can acknowledge all stakeholders, and not just shareholders, and start to establish more balanced systems. The tertiary education sector has a significant role to play in bringing about this transformation.

鈥淭his report demonstrates how much progress we have made but there鈥檚 more work to be done. The current pandemic shows we need to be teaching programs and asking research questions that examine our over-reliance on global production and consumption systems that also perpetuate inequality and the destruction of nature.鈥�

The report, Transforming management education beyond shareholder primacy鈥�, outlines the School鈥檚 achievements in relation to each of the Principles for Responsible Management Education and details future action.

It also highlights specific activities reflecting the School鈥檚 commitment to the SDGs, including:

• The Rural and Remote Enterprise (RARE) program, which connects students with remote, rural and Indigenous social enterprises such as in Alice Springs (SDG10).
• Critical research on the climate responses and actions of large corporations (SDG13).
• Research offering a solution to address drastic inequality in a world where an estimated three billion people have wealth, while four billion live on less than $5 a day (SDG1).
• Understanding physiological, emotional and socio-cognitive factors that enable employee health and wellbeing (SDG3).

CEO of Business Council for Sustainable Development Australia and member of the Business School鈥檚 Board of Advice, Andrew Petersen, explained: 鈥淲hile we鈥檙e slowly seeing business profit and purpose converge, the Business School has a critical role to play in preparing graduates with the skills they鈥檒l need to lead in a future of work that鈥檚 more sustainable than the environments we鈥檝e previously built.鈥�

The student experience also features in the report. Reflecting on the relevance of the聽Sustainability Accounting subject, BCom/Liberal Studies student Olivia O鈥機onnor said, 鈥淥ne issue that particularly grasped my attention was the tension between achieving SDG8, that includes 鈥楨conomic growth鈥�, and many of the other goals such as climate action, life on land and life below water.鈥�

Dr Young-Ferris, who also coordinates the Sustainability Accounting unit, added: 鈥淲e need to respond by building resilient students who can take the necessary skills into the workforce and the community.鈥�

鈥淲e don鈥檛 want to only focus on the problems; our role as a business school is to provide a social good through the sharing of research-based solutions and preparing our students to be adaptable future leaders who are also climate-ready. Australia鈥檚 bushfire season shows us that the environment is saying 鈥榚nough is enough鈥�.鈥�

After becoming an Advanced signatory in May 2019, the Business School is now seeking to become a PRME Champion by 2025. This involves greater interaction and collaboration with other PRME schools around the world 鈥渢o affect action and systematic change of business school education鈥�.

The require signatories to contribute to the implementation of the SDGs in order to improve living standards, protect the environment and encourage good governance, peace and security.

鈥淏usiness schools play a vital role in the preparation of our future leaders through management education, research, partnerships, and dialogue with business, civil society, and government. Business schools should also be champions of the need to secure a sustainable and inclusive economy,鈥� Professor Whitwell concluded.