January 21, 2008
A New Mindset For Corporate Sustainability
Organizations that wish to grow profitably in the future must focus their efforts to benefit shareholders, society and the environment simultaneously, according to a paper published today by a group of academic experts on corporate responsibility and sustainability. Concentrating on any one of these areas at the expense of the other two may compromise a business’s long-term success. A focus on sustainability provides the best means to implement this triple-pronged strategy simultaneously, enabling organizations to innovate, differentiate themselves and succeed.
The paper, A New Mindset for Corporate Sustainability, was sponsored by Cisco and BT.
The paper outlines the 10 steps required for organisations to become sustainability-driven innovators:
1 Walk the talk
Top leadership in the business has to believe in it. Staff and other stakeholders need to hear their leaders explain regularly what responsibility and sustainability mean for the business and the innovation possibilities they hold.
2 Set up a body with the power to make sustainability matter
Many of the leading sustainability-driven companies have a board committee devoted to the area ensuring that things move ahead. Others have a leading non-executive director in charge, while others still have a mixed committee of executives and non-executives. Whatever the arrangement, it is essential that the company regularly addresses sustainability at the very highest level of decision-making.
3 Make innovating for sustainability a part of your company’s vision
Update your company’s stated visions, mission and list of values or principles to ensure that sustainability is at the heart, so that your company is publicly identified, both internally and externally, as sustainability-driven.
4 Set firm rules
Establish a code of conduct on sustainability covering both your employees and other stakeholders in your business, stating clearly that anyone who doesn’t adhere to it has no place in your company or connected to your company.
5 Bring your stakeholders on board
Identify all the stakeholders in your business – shareholders, employees, suppliers, customers, the communities in which you operate – and engage with them on thinking about sustainability. Actively encourage them to participate in your innovation and encourage them to develop sustainable opportunities themselves.
6 Formulate a strategy with sustainability at its heart
To really be effective, sustainability must be included in a new formulation of your business strategy. Simply bolting it on to an existing strategy is likely to leave it marginalised and insignificant.
7 Embed sustainability in every part of your business
Create an ongoing process for getting each part of the company to recognise and understand its environmental, economic and social impacts, and get each part thinking about how they can use that knowledge to innovate.
8 Use people power
Ensure that sustainability is a clearly stated value at every stage of your people management process, whether it’s advertising for staff, hiring, induction, performance appraisal, remuneration or promotion. Create a training organisation that includes a strong focus on creativity and innovation based on sustainability.
9 Join the movement
A growing number of organisations, networks and other bodies dedicated to encouraging sustainable business are emerging. Get involved with groups such as the World Business Council for Sustainable Development, the UN Global Compact and similar local bodies. Take part in sustainability investment rankings and monitors such as the Dow Jones Sustainability Indexes and the Corporate Responsibility Index.
10 Produce real sustainability reporting
Corporate social responsibility reports can sometimes be little more than box-ticking by companies that think everybody should have one. The truly sustainable company instead documents its activities, clearly setting out policies and pointing the way to innovative actions. It should be a dynamic base for progress.
Advertisers
Make sustainability part of your strategy.
Get equipped at the SAP Sustainability Resource Center. >>
Unclear about the EPA's new GHG Rule?
Learn how it could affect your business. >>
EPA mandatory emissions reporting starts Jan 1st
CSA Standards can help your organization get ready for compliance. Find out how. >>
Product Environmental Compliance Best Practices
How to achieve compliance at a significantly lower cost. Download the full report. >>
Join the Discussion
Recent Daily News [ see all ]
- 11/20/2009
- 11/19/2009
- 11/18/2009
- Ontario May Follow California’s Lead on TV Energy Efficiency
- EPA Is One Step Closer to New Ship Emissions Standards
- European Paper Industry Cuts CO2 Emissions by 42% since 1990
- CDP Launches Water Disclosure Project
- Whirlpool Cuts Water Use by Nearly 22% from 2004 to 2008
- National Grid Again Rejects High Costs of Offshore Wind
- California City’s Green Building Ordinance Applies to Commercial Buildings
- Agilent To Save $3.5M Over 10 Years With Solar
- S. America Takes Most Urgent View of Copenhagen Talks
- Texas, China Wind Partners May Build U.S. Factory to Appease Critical Lawmaker
- Volvo, Mack Engines First to Meet 2010 EPA Emissions Standards
- Around the Web – Nike, Google, Nissan, Bush’s Green Library, WWF
- Fossil Fuel Emissions Rose 29% since 2000
- SEC Charges Four in ‘Green’ Investment Ponzi Scheme
- No Sunny Skies for Two Solar Projects in Texas, California
- Canada Delays GHG Emissions Regs, Russia Ups Emissions Cuts
- News Corp. Taps Hara for Energy Efficiency, Environmental Management
- Rising Sea Levels Would Hit U.S. East Coast Hardest
- Building an Energy-Efficient Data Center Using Virtualization Technology
- Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
- A/V Equipment Gets New Energy Star Requirements
- By Scaling Back Catalogs, JC Penney to Save 30% on Paper
- Around the Web – Starbucks, EcoFactor, UPS, Brownfields, Eco-Labels
- Subaru Touts Energy & Environmental Initiatives
- U.S., China Partner on Renewable Energy, Energy Efficiency
- Green Buildings Do Double Duty: Reduce Energy Use, Lower Financial Risk
- UK to Ease Rules for On-Site Renewable Energy Installations
- Intel Eyes Wind, Electric Cars
- Nike Tops Annual Climate Action Scores
- Iranian Tanker Firm to Cut Fuel Use 28%
- Corporate Jetsetters Can be Carbon Offsetters
- USPS Energy Use Down 9% From 2005 to 2008
- From Solar Applications to Christmas, LEDs Light the Night
- EPA May Regulate Sulfur Dioxide Emissions on Hourly Basis
- MITEI: Sustainable Energy & Terawatt-Scale Photovoltaics
- Around the Web – Health Care & Energy, Shell, NBC
Charts [ see all ]
Popular Topics
Energy Efficiency
Data Center
Emissions
Facilities
Electricity
Sustainability
Water
Supply Chain
Efficiency
Green Marketing
Strategy & Leadership
Research
Fleets & Transportation
Carbon Finance
Conventional Energy
Clean Energy
Waste & Recycling
Paper & Packaging
Policy & Law
Utilities
Construction
Comments and Discussions
Trade Association on Trade Group on EPA Chemical Regs: ‘If Everything is a Priority, Then Nothing is a Priority’
"Seriously… that..."
Gary Markowitz on Supermarkets Tackle Emissions Reductions, Fuel Efficiency
"Supermarkets waste over 10 percent of their energy through improper..."
peter in ireland on Ontario May Follow California’s Lead on TV Energy Efficiency
"Governor Schwarzenegger is shooting himself in the foot! 1...."
Environmental Leader on S. America Takes Most Urgent View of Copenhagen Talks
"The survey respondents (the PDF report mentions 4,000 respondents in 38..."
Jake on UPS Trying New Hydraulic Hybrid Trucks
"A point of clarification: the Reuters press release referenced herein reports that 20 UPS will purchase..."
Custom Organic Shirts on S. America Takes Most Urgent View of Copenhagen Talks
"90% of North Americans believe it is urgent to get a global climate..."
peter dublin on California City’s Green Building Ordinance Applies to Commercial Buildings
"Why energy efficiebnt regulation on buildings –..."




Reader Comments
Very interesting. Appears to be along the lines of the book Green to Gold, and while I am not sure that any of these steps are new, I will agree that companies need to begin taking all of them.
r
http://www.china-crossroads.com
China @ Crossroads | January 21st, 2008