Conducting business responsibly and sustainably has never been more important.
The world is dealing with impending climate change, encroachment on planetary boundaries, big data and an environment of business disruption in an age of unprecedented consumer information and transparency.
Responsible, sustainable business makes commercial sense. Rather than altruism or philanthropy, sustainability accounts for the environmental and social context of operations to ensure profitability in the short, medium and long term.
Concepts used interchangeably include Sustainability, Global/Corporate Citizenship, Corporate (Social) Responsibility, ESG (environmental, social and governance), Social Purpose, Impact and Shared Value.
Whatever the nomenclature, these initiatives encompass environmental and social values within a profitable business and when executed authentically are not only a defensive way of managing reputational risk and cost, and safeguarding a social license to operate, but are also the offensive means to gain stakeholder loyalty, build markets, create competitive advantage, attract investment and inspire innovation.
Calls for concerted efforts toward building an inclusive, sustainable and resilient future for people and planet, have never been louder, nor more urgent for the public and private sectors.
Investors, employees, consumers, business partners, governments and communities all have vested interests in sustainability, impacting on it as well as being affected by it.
- 81% of employees take into account Corporate Social Responsibility and sustainability when considering where to work… *Edelman 2012
- 78% of customers are more likely to buy from a company signed up to the United Nations Sustainable Development Goals… *PwC 2015
- 83% of Australian institutional investors consider non-financial factors including sustainability relevant when making investment decisions… *EY 2015
- 70% of CEOs believe sustainability and corporate responsibility will be core to operations for successful businesses by 2020… *PwC 2016
Responsible, sustainable business requires a “whole of business” approach, bridging risk and strategy whilst connecting stakeholders. It is therefore imperative in addressing sustainability, that organisations effectively adopt, implement and communicate sustainability goals and initiatives at all levels, and to all stakeholders to reap the rewards. Business that fail to take action will be left behind.
With ResponsAble, organisations adopt and operationalise responsible, sustainable strategies in meaningful and authentic ways through genuine engagement, operational understanding and strategic thinking.
For more information on how to benefit from sustainability strategy in your business, fill in this contact form.