b'Climate Change Action AusLSA will ensure members have access to new resources and tools that support them to increase their commitments and accelerate their climate action. AusLSA will provide up to date information to allow firms to develop and adapt their programs so that they continue to meet stakeholder expectations and emerging opportunities.Using a common language and shared purpose the SDGs define a common framework of action and language that will help companies communicate more consistently and effectively with stakeholders about their impact and performance. 01 Understanding the SDGs As a first step, companies are assisted in familiarizing themselves with the SDGs. 02 Defining priorities To seize the most important business opportunities presented by the SDGs and reduce risks, companies are encouraged to define their priorities based on an assessment of their positive and negative, current and potential impact on the SDGs across their value chains. 03 Setting goals Goal setting is critical to business success and helps foster shared priorities and better performance across the organization. By aligning company goals with the SDGs, the leadership can demonstrate its commitment to sustainable development. 04 Integrating Integrating sustainability into the core business and governance, and embedding sustainable development targets across all functions within the company, is key to achieving set goals. To pursue shared objectives or address systemic challenges, companies increasingly engage in partnerships across the value chain, within their sector or with governments and civil society organizations. 05 Reporting and communicating The SDGs enable companies to report information on sustainable development performance using common indicators and shared set of priorities. The SDG Compass encourages companies to build the SDGs into their communication and reporting with stakeholders.8'