HOW TO ACTIVATE BUSINESS SUSTAINABILITY
Business sustainability is a comprehensive approach that seeks to maximize positive impact of a company in society and in the environment, while maintaining sustainable economic profitability. It is a key concept for sustainable development and applies to all companies, regardless of their size or sector.
More and more companies are aware that they have to change something, transform and adapt to continue moving towards a more sustainable world. La sustainability consulting makes this possible.
83% of young people Spaniards say they choose purposeful brands compared to 39% of those over 65. Something is changing. Companies are no longer just required not to pollute. The market goes much further. Consumers buy socially responsible products and services.
That's why companies like Danone are trying to change their production model to a healthier, more sustainable and inclusive style through different initiatives and projects.
In particular, Danone It has been working on its purpose for some time: to lead a food revolution to ensure the sustainability of the food system and guarantee a healthy diet for a growing population, while protecting natural resources.
To achieve this, it is betting on a real transformation of dietary habits that reduces waste and promotes a system of local and seasonal production. At the same time, it values empowering new generations to turn them into agents of change. In line with the movement BCorp of which the company is a part.
There are many references to look at. Ecoalf, Auara, Unilever, Ben & Jerry, Central Lechera Asturiana... the list is very long. And more and more. The BCorp movement continues to grow. In Spain, there are already almost 50 companies with this certification, which evaluates, through a rigorous verification process, which companies are the best “for” the world.
The “why” of your company is the key
But how can I incorporate sustainability into my company? , how do I transform my business so that it generates a positive impact? A sustainability consultancy may be the answer to these questions.
The key is to define and activate your purpose. What does someone need a company like yours for. This “what for” is the key to the transformation that any company should undertake, if it hasn't already done so, in order to take sustainability to another level.
The activation of purpose in a company can help you:
- Improve reputation and legitimacy to operate
- Attract, Retain and Motivate Talent
- Build customer loyalty
- Increase investor interest
- Encourage innovation
Do I need a sustainability consultancy?
Una sustainability consultant can make a difference because it helps to define and activate the purpose, to manage ESG assets and because through a scorecard it allows you to identify, measure and improve your company's results and its social, environmental and governance impact.
All of this makes it possible to improve your position compared to the competition. For example, according to the First Business Purpose Barometer in Spain, prepared by APD and Transcendent, for 9 out of 10 executives surveyed, purpose provides value and contributes to improving company profitability. In addition, it is a lever for attracting talent at all levels of the organization. In fact, 3 out of 4 respondents would switch jobs to a purposeful company, and 1 in 4 would be willing to change jobs, even assuming a salary reduction.
We know that purposeful companies double their market value four times faster than others and also record a return on capital greater than 5.9%.
They are also better financed in markets, improve their reputation, reduce their vulnerability risks to potential crises, attract and retain talent and improve their results.
But how do you bring sustainability to the company?
Companies approach sustainability from different points of view:
- Incorporating the ODS (Sustainable Development Goals) to your business, which involves understanding the opportunities and responsibilities that individually and collectively represent for the company.
- Prioritizing the most important SDGs. To know which of them actually have a positive impact, the organization must analyze them to define priority areas of action.
- Establishing own objectives linked to these SDGs, which means transforming them into business objectives and integrating them into the company's strategy. At this point, the involvement of senior management is key for it to be implemented as a strategic part of the company's development.
- Integrating sustainability into the company's business and governance
- Informing and communicating to the rest of the company, which will facilitate the work of disclosing corporate information, access to such information by interested parties and general knowledge about the set of shared priorities.
A process that requires commitment, involvement of the management committee and communication with employees, but which, once implemented, provides value to the company, to those who work in it, to society in general and to the planet. A path that, according to experts, has no turning back. Find out more about how a sustainability consultant!
