For sub-national governments like municipalities, Social Development Goals (SDGs), though inspiring and actionable, are too complicated as they are for monitoring national-level data. This is challenging because SDG national indicators cannot be easily disaggregated at a local level. Hence, to inform decision-making Norway has developed a taxonomy of SDG indicators for local and national governments.
The taxonomy, officially launched in March 2022, allows municipalities to manage a range of SDG and Environmental, Social, and Governance (ESG) - related issues. At the resource level, it provides all municipalities the tools to find and understand the key performance indicators vital to them. At the strategic level, the taxonomy helps decision-makers find indicators that measure the impacts and outcomes of their decisions. Thus providing them with the data and insights, they need to influence policy-making and investment.
Moreover, the taxonomy helps drive public-private partnerships and enables greater investment into new sustainable infrastructure and technologies. Furthermore, it is being seen as a valuable tool to help both public and private sector players plan, execute, and measure their ESG and SDG activities.
As ESG becomes increasingly influential in the financing, bidding, and development process, taxonomies like this one will help infrastructure players report on their ESG impacts and activities.
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