Corporate Sustainability – Guide to your Sustainability Strategy
- Anna Neumann
- Apr 4, 2023
- 3 min read
Sustainability activities in a company could vary from reactive approach (reduction of damage & risks, compliance with the laws and national policies & brand protection) to more pro-active approach (being seen as a specialist in the field, differentiate your approach from the other actors, being heard at the national and international levels).
For a pro-active future-oriented company Sustainability Roadmap could be as important as setting the financial indicators and goals. 80% of the world largest companies identify their major sustainability issues and report on them[1].
To be wholistic Sustainability in an organization should cover 3 areas:
1. Knowing direction (strategy)
Sustainability strategy should result from stackeholder- and materiality analysis and outline major targets.
2. Knowing how to get there (operations)
Once major priorities and targets were identified, operationalization should take place. At this stage indicators for the targets as well as timeframe milestones are developed. Organization can choose to create its own framework of indicators corresponding with activities, or rely on existing frameworks of sustainability standards & certifications such as Global Reporting Initiative, Deutscher Nachhaltigkeitskodex, Gemeinwohl-Ökonomie, EcoVadis usw.
3. Enabling environment to achieve those goals (organizational culture)
Awareness about your sustainability activities is as important inside of your organization as to external stakeholders. Making it personal, showing individual commitment to sustainability and living change you expect from the employees could be an encouraging and moving factor. It is also important to know, that sustainability need to be seen wholistically and embedded in overall company organization and activities.
5 main steps to creating your organization Sustainability Strategy:
1. Initial Analysis
This step includes initial stakeholder mapping, materiality analysis, as well as other possible assessments depending on organizational goals (Carbon Footprint Assessment, Life Cycle Assessment, Energy Analysis etc.)
2. Vision, Strategy & Operational Plan
Based on the step 2 company Vision towards sustainability should be formulated and Strategy & Operational Plan should be developed. Once prioritizing and clustering topics, it is important to focus on initial main 3-5 goals with highest impact and importance. Another 5 secondary goals can be added (depending on the size of the organization and resources). Priorities should be also organized in a timeframe with a up to 5 years duration.
3. Indicators
Here one can create own customary Framework creating indicators directly related to your organizational needs and functions. Alternatively, one can opt out to external sustainability certifications and standards. One need to however, consider, that externally validated standards and certificates could be seen as more trustworthy by your stakeholders and customers.
4. Communication & Monitoring
Communication of your sustainability plans and achievements should be done externally to your Networks and stakeholder circles, as well as to your own employees. Communicating sustainability in your organization is essential and should be done in a participatory way. Let your employees and main stakeholders to weigh in on the targets and activities. This will improve success, reduce resistance to change and increase ownership of your sustainability activities.
Monitoring Framework should be continuously revised to identify challenges and delays and adjust your strategy milestones.
5. Continuous improvement
Once the initial targets and indicators are achieved one can take time to celebrate, since you have now become sustainable organization. However, the sustainability is an ongoing process: new priorities may arise, and new problems will need a solution, also seeing success and benefits in company operations and representation your organization may want to improve and go beyond initial targets. You are on a good course, keep on improving and remember, that all big changes need time!
Reach out to Greenativity for initial analysis and step by step solutions for your Carbon Neutrality!
[1] https://www.globalreporting.org/media/mlkjpn1i/gri-sasb-joint-publication-april-2021.pdf
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