The corporate sustainability is a holistic approach that seeks to maximise the positive impact of a company on society and the environment, while maintaining sustainable economic profitability. It is a key concept for sustainable development and applies to all companies, regardless of size or sector.
Companies are increasingly aware that they have to change, transform and adapt in order to move towards a more sustainable world. The sustainability consulting makes this possible.
The 83% for young people Spanish consumers say they choose brands with purpose compared to 39% of those aged 65 and over. Something is changing. Companies are no longer just required not to pollute. The market is going much further. Consumers are buying 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.
Specifically, Danone has long been working towards its purpose: 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 committed to a real transformation of eating habits that reduces waste and promotes a system of local and seasonal production. At the same time, it places value on empowering the new generations to become agents of change. In coherence with the BCorp of which the company is a part.
There are many references to look up to. Ecoalf, Auara, Unilever, Ben & Jerry, Central Lechera Asturiana... the list is very long. And more and more. The BCorp movement is growing all the time. In Spain there are already almost 50 companies with this certification, which assesses through a rigorous verification process which are the best companies "for" the world.
The "what for" of your business is key
But how can I incorporate sustainability into my business, how can I transform my business to make a positive impact? A sustainability consultancy can be the answer to these questions.
The key is to define and activate your purpose. What does someone need a company like yours for? That "what for" is the key to the transformation that any company should address, if it has not already done so, in order to take sustainability to the next level.
Activating purpose in a company can help you:
- Enhancing reputation and legitimacy to operate
- Attracting, retaining and motivating talent
- Customer loyalty
- Increasing investor interest
- Encouraging innovation
Do I need a sustainability consultancy?
A sustainability and business impact can make a difference by helping to define and activate purpose, to manage ESG assets, and through a dashboard to identify, measure and improve your company's performance and social, environmental and governance impact.
All of this allows you to improve your position in relation to your competitors. For example, according to the First Business Purpose Barometer in Spain, produced by APD y Transcendent, 9 out of 10 executives surveyed, purpose brings value and contributes to improving the company's profitability. It is also a lever to attract talent at all levels of the organisation. In fact, 3 out of 4 respondents would move to a purpose-driven company, and 1 in 4 would be willing to move, even at a reduction in salary.
We know that purpose-driven companies double their market value four times faster than others and also record a higher return on capital of 5.9%.
They also become better financed in the markets, improve their reputation, reduce their risks of vulnerability to potential crises, attract and retain talent and improve their performance.
But how do you bring sustainability into business?
Companies approach sustainability from different perspectives:
- Incorporating the ODS (Sustainable Development Goals) to its business, which involves understanding the opportunities and responsibilities that they individually and collectively represent for the company.
- Prioritising the most important SDGs. In order to know which of these actually have a positive impact, the organisation should analyse them in order to define priority areas for 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 to ensure that they are 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 dissemination of corporate information, access to such information by stakeholders and general knowledge about the set of shared priorities.
A process that requires commitment, involvement of the management committee and communication to employees, but which once implemented brings value to the company, to those who work in it, to society in general and to the planet. Find out more about how it can help you fulfil your company's purpose in a way that, according to the experts, there is no turning back. Find out more about how a sustainability consultant!
