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With Harmonized Sustainability Reporting Requirements On the Horizon, Companies Must Prepare Now or Be Left Scrambling

17 01 2024

(Image: Vasyl/Adobe Stock)

By Amy Brown from Triple Pundit • Reposted: January 17, 2024

Global sustainability reporting is finally on the brink of unifying around a set of disclosure requirements for climate and other environmental, social and governance (ESG) issues. This is great news for business leaders who are choking on the alphabet soup of sustainability reporting standards. Yet being prepared to meet the harmonized reporting standards around the corner remains a challenge. Companies are well served to start preparing now rather than later.

More than 600 ESG reporting frameworks and standards are used around the world today. Among the most widely known and adopted are those from the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the Task Force on Climate-Related Financial Disclosures (TCFD).

The proliferation of standards has led to confusion as well as a significant amount of time, effort, and resources to gather the information and data that is shared in annual sustainability and financial reports. On top of that, individual investors often send out their own ESG data questionnaires to companies.

Preparing for regulatory disclosures

To add to the pressure, ESG reporting that has been largely voluntary will now be mandatory in many jurisdictions. The U.S., Canada, the European Union, Australia, Brazil, India, and others have either passed or indicated they will soon enact ESG-specific disclosure requirements for companies.

That includes the European Union’s Corporate Sustainability Reporting Directive (CSRD) which entered into force in January 2023 and requires all large companies and listed companies to disclose information on risks and opportunities arising from ESG issues. The final rules from the U.S. Securities and Exchange Commission (SEC) requiring companies to include certain climate-related disclosures in their reporting are now expected in spring of 2024.

Confusion and reporting for reporting’s sake

“The biggest downside of this situation has been the confusion,” Ted Dhillon, co-founder of the ESG reporting platform FigBytes, told TriplePundit. “The second biggest downside is: How do you standardize your reporting when you have so many different reporting requirements?”

Critically, time spent collecting data for reporting is time not spent on making actual progress toward sustainability goals. The reporting burden has become so overwhelming that the usually small sustainability teams at organizations spend most of their time gathering data, Dhillon said.

“I call sustainability officers ‘nag, bag and drag officers,’ because that’s essentially what I’ve seen them do over the years: Pick up the phone and try to get the data, and that takes up most of the year,” he said. “It is becoming a reporting exercise for reporting’s sake and not for making true improvements. In the larger scheme of things, this makes us lose focus on the bigger challenge: We have to get to net zero.”  

A welcome move toward harmonized sustainability reporting

Against this backdrop, many welcomed the finalized disclosure standards released by the International Sustainability Standards Board last year, a major step toward a standardized global framework for sustainability reporting. The ISSB Standards, effective from January 1, 2024, provide a comprehensive global baseline of sustainability disclosures that can be mandated and combined with other legislative requirements. The ISSB is part of the IFRS Foundation, which is responsible for writing global financial accounting rules.

Notably, the ISSB supports both regulatory and voluntary adoption, and it has ensured that there will be interoperability between SASB, GRI and the European CSRD. The ISSB Standards have also incorporated the recommendations of the TCFD, and the ISSB will take over monitoring the progress on companies’ climate-related disclosures from the TCFD from 2024.

This harmonization is welcome and needed, Dhillon said. “I think it’s critical to have consistency and comparability. Otherwise, organizations will report on what suits them best and hide information that shows them in a negative light. While too many competing frameworks lead to confusion, I think standards and disclosure requirements are absolutely critical for setting a global baseline of sustainability performance.”

From this vantage point, Dhillon applauded the ISSB’s effort to align the various standards and reduce complexity. “The ISSB was clearly the way to go in setting a uniform level playing field for reporting. But I think it will probably take another iteration or two before the ISSB Standards clearly get set as the overarching global standard.”

Preparation is the best prescription

Now, with reporting season upon them, many organizations are trying to understand the implications of the different sustainability reporting developments. They need to figure out if their current reporting strategy is sufficient or whether additional steps are needed to comply with regulatory standards and to meet the expectations of investors and other stakeholders.

Dhillon said the first step should be to consult guidance provided by the standard-setting organizations themselves. The ISSB website offers a wealth of information including answers to frequently asked questions. It is the same for the websites of the other frameworks that companies may be using.

“Companies who have been using other standards like GRI or SASB, or following the recommendations of the TCFD, won’t have such a heavy lift. They will have already started tracking their emissions across the different scopes of 1, 2 and 3 [categories of direct and indirect greenhouse gas emissions],” Dhillon said. “But in light of the new reporting developments, they will need to take a step back and say, ‘Do we do another materiality exercise or at least a scoping exercise to figure out what we missed?’”

You have to start somewhere

For companies that have not yet made much progress on sustainability reporting, Dhillon advised that the global disclosure system CDP is a good place to start, as well as the Greenhouse Gas (GHG) Protocol which offers tools that help with systematic collection of data.

Over time, legislative and mandatory ESG requirements will likely take center stage and “voluntary reporting will just fade away,” Dhillon predicted. “I think the future will be companies reporting probably once, or maybe twice in Europe,” he said. “When organizations file a report to meet the CSRD requirements, for example, they won’t need to report again to any other framework. There will no longer be a need for multiple reports, and I think that’s the ideal situation for any company globally. Once you’ve filed to meet the CSRD or SEC requirements, you’re done and you can focus on your sustainability work.”

This should be welcomed by most companies, and Dhillon believes it will be — “aside from some organizations that don’t want to put their information out there, but they are outliers.”

Taking the alphabet soup of competing frameworks off the menu means companies can focus on the main course: making improvements to their ESG performance overall, he added. And he advised companies not to show up late for that meal.

“The time is now to learn as much as you can, put the systems in place and get started. There’s never going to be a perfect situation,” Dhillon said. “Even if it’s just a scoping exercise at the bare minimum, you’ll be in a far better position. At the end of the day, you want to create a mindset shift, because this is a change management issue for organizations. If organizations get started today understanding where their gaps are, they will be ready to meet whatever comes.”

This article series is sponsored by FigBytes and produced by the TriplePundit editorial team.

To see the original post, follow this link: https://www.triplepundit.com/story/2024/prepare-harmonized-sustainability-reporting/792696

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Ever Expanding Role of CEOs in Corporate Sustainability

16 01 2024

Image Credit: Siemens

By Mia Garcia of Industry Leaders Magazine • Reposted: January 16, 2024

The role of CEOs in overall success of the organization, leading the development and execution of long-term strategies with the goal of increasing shareholder value is inevitable. At the same time, corporate sustainability topics are ubiquitous.

In the current global business landscape, the paramount significance of environmental, social, and governance matters is evident, a recognition that is reverberating among CEOs and corporate leaders on a global scale. From the existential threat of climate change to growing socioeconomic disparities, businesses worldwide face immense pressure to adopt sustainable strategies.

The role of CEOs in this transformative charge have evolved from profit maximization proponents to sustainability trailblazers. This evolution of CEOs role is not merely altruistic; it reflects the understanding that long-term corporate success is intricately tied to a healthier planet and more equitable society.

The CEO’s Sustainability Mandate

Increasingly, stakeholders demand companies contribute positively to the world. Dr. Rebecca Henderson, a professor at Harvard Business School, states, “Businesses cannot succeed in societies that fail.” CEOs of today, must pivot from traditional business practices to ones acknowledging their operations’ broader societal and corporate sustainability.

WHY DOES THE CEO NEED TO LEAD ON SUSTAINABILITY?

The CEO is the leader, the top of the business and in many cases, the face of the company. When people research the brand, they are likely to look at who the CEO is, what they are doing, and what they have been saying.

Having a CEO who encapsulates the brand message and values, and who creates value for the business by accelerating it and giving it credibility, commitment, and trustworthy respect, is essential.

Organization who lack this approach are likely to find themselves losing market share, see their brand’s marketing power diminish, lose talented potential employees to other businesses and will lose out on investment opportunities.

CEOs need to take the lead on Environmental, Social, and Governance (ESG) issues, especially as regulations and requirements are becoming stricter – when it comes to Climate Change, 77% of Executives reported regulatory pressures to act.

CEOS ROLE IN CORPORATE SUSTAINABILITY AND HOW TO ACHIEVE IT?

The CEOs role is to lead by example, and show stakeholders and customers, that the visions of the business, and the values, aren’t just lip-service – they’re a core component, which they take seriously, and are personally invested in. Here are some of the ways a CEO can attain corporate sustainability.

Integrating sustainability as company’s mission

Embed ESG goals into the company’s mission and vision, ensuring they align with operational strategies and business models.

Sustainability in supply chains

Enforce sustainable practices among suppliers, including reduced emissions, fair labor practices, and responsible sourcing.

Green investment

Redirect investments from non-renewable to renewable sources, supporting sustainable initiatives.

Adopt eco-friendly resources

Adopt production methods minimizing environmental impact through waste reduction, energy efficiency, and sustainable resources.

Employee training on sustainability

Foster a sustainability-centric mindset among employees through training, open dialogue, and inclusive decision-making.

Transparent sustainability reporting

Practice transparent and comprehensive ESG reporting, following frameworks like the Global Reporting Initiative or Sustainability Accounting Standards Board.

Stakeholder Engagement

Engage stakeholders (communities, NGOs, governments) in creating shared value through strategic partnerships and dialogues.

Resilience Building

Develop strategies for business continuity and resilience with an emphasis on mitigating ESG risks.

THE SUSTAINABLE CEO’S JOURNEY

CEOs’ roles have transcended maximizing shareholder value, evolving to account for wider societal impacts. Sustainability is no longer a sideline activity but a core component in strategy development, influencing every business aspect from supply chains to internal culture. The sustainable CEO’s journey is filled with continuous learning, stakeholder engagement, and an unwavering commitment to a greener and more equitable world.

The companies and leaders mentioned above illustrate that integrating sustainability does not compromise profitability; rather, it future proofs the business. In the words of Andrew Winston, a renowned sustainability consultant, “The hallmark of a resilient, forward-thinking company is its ability to thrive where others won’t, by embracing what others don’t.”

CEOs today have an unprecedented opportunity to reframe their success by the legacy they leave for the world and future generations.

Strategic decisions, careful evaluation of action, and open, honest, transparent communication with employees, stakeholders, and consumers must be a the heart of a sustainable strategy, so the CEO can speak with authority and a level of trust.

To see the original post, follow this link: https://www.industryleadersmagazine.com/ever-expanding-role-of-ceos-in-corporate-sustainability/

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Sustainable Business: Leveraging User Insights Is Key To Greener Profits

16 01 2024

As businesses navigate the complex terrain of a rapidly changing world, user insights will lead the charge toward a climate-positive future. Photo: GETTY

By Malini Leveque, Global Vice President User Research & Product Insights at SAP via Forbes • Reposted: January 16, 2024

We are in the midst of the era of Sustainable Business, a transformative period where the decisions we make today are shaping the future of our planet. Our times are marked by a heightened focus on environmental responsibility, with consumers, investors, and regulators demanding authentic commitment over mere green credentials. To truly stand out today, businesses must make choices that align with sustainable practices and responsible and ethical choices that resonate with their stakeholders.

In the corporate boardroom, we see that sustainability is no longer a buzzword; it is a strategic imperative. Products like SAP Analytics Cloud not only showcase financial performance, but also highlight the environmental impact of each business decision. Carbon footprints, resource consumption, and eco-friendly alternatives are becoming key metrics to create personalized experiences that go beyond transactional relationships, to enable businesses to build genuine customer loyalty through shared values for a greener future.

Navigating this complex landscape requires more than good intentions. It demands a deep understanding of what stakeholders truly value; how their needs align with environmental responsibility, and how to translate those insights into tangible action. The translation of these insights into actionable strategies becomes the key differentiator in achieving sustainable success.

This is where the often-overlooked realm of user insights comes into play.

In the past, user research might have been relegated to tweaking product features or refining marketing campaigns. Today, it is the hidden weapon in the fight for a sustainable future. User insights reveal the unspoken concerns, and evolving priorities of consumers when it comes to sustainability.

Understanding these nuances allows companies to design products and services that resonate deeply, while simultaneously minimizing environmental impact. By harnessing the power of user data and leveraging the analytical might of AI, product teams can unlock a treasure trove of information to drive informed decision-making, foster innovation, and build genuine customer loyalty.

Gone are the days of opaque calculations and guesswork. AI-powered algorithms, trained on real-world data and user feedback, deliver transparent and reliable insights, empowering businesses to identify areas for improvement and make data-driven decisions that shrink their environmental footprint.

But it is not just about technology. The true magic lies in the collaborative spirit behind it. User insights should not be confined to white papers and dashboards, but rather serve to fuel product development through cross-functional teams, where designers, engineers, and sustainability experts work side-by-side.

A case in point is reimagining the SAP SuccessFactors HXM Suite. User feedback, meticulously gathered and analyzed, revealed common themes around individualization, talent sourcing, and confident decision making. This translated into a user-centric redesign that not only enhanced usability, but also instilled a sense of personal ownership and empowerment, aligning seamlessly with modern values and sustainability goals.

This collaborative approach – informed by a constant influx of user insights – is not just about optimizing products or increasing profitability. It is about building trust, fostering genuine engagement, and driving organizational change. When employees feel their voices are heard and their concerns addressed, they become champions of sustainability within the company, propagating environmentally conscious practices throughout the value chain.

The journey from user feedback to sustainable action is not always smooth. It requires commitment, flexibility, and a willingness to embrace change. But the rewards are undeniable. Companies that successfully harness the power of user insights to inform their sustainability initiatives will not only secure a competitive edge in this decade of choice, but also contribute to building a more just and sustainable future for generations to come.

As businesses navigate the complex terrain of a rapidly changing world, user insights will lead the charge toward a climate-positive future. The shift from feedback to foresight is not just a technological evolution; it is a commitment to responsible and sustainable business practices.

To learn more about how design is helping to solve the problems that matter, visit www.sap.com/design.

To see the original post, follow this link: https://www.forbes.com/sites/sap/2024/01/11/sustainable-business-leveraging-user-insights-is-key-to-greener-profits/?sh=2d7895bc7b8d

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Climate disclosures: corporations underprepared for tighter new standards, study of 100 companies reveals

11 01 2024

Photo: Shutterstock/Bilanol

By Evangelos Seretis, Lecturer in accounting, University of Glasgow, Fanis Tsoligkas, Associate professor in management, accounting, finance & law, University of Bath, Ioannis Tsalavoutas,Professor in accounting and finance, University of Glasgow and Richard Slack, Professor of accounting, Durham University from The Conversation • Reposted: January 11, 2024

Companies and the carbon emissions that they generate are one of the key drivers of anthropogenic climate change. Because of this, however, they also hold precious potential of curbing its severity. The 2021 Glasgow Pact stated that rigorous sustainability reporting standards that will push companies to disclose information about their impact on the environment as well as climate change’s impact on their operations are essential. For this reason, it supported the creation of the International Sustainability Standards Board (ISSB), a new branch of the International Financial Reporting Standards (IFRS) Foundation, which aims to develop a robust set of financial-related sustainability-reporting criteria.

In June 2023, the ISSB issued its first two standards, IFRS S1, General Requirements for Disclosure of Sustainability-Related Financial Information and IFRS S2, Climate-Related Disclosures. The second focuses solely on climate change-related issues, requiring companies to disclose information around four aspects of their activities: governance, strategy, risk management, and metrics and targets. The standard requires information about the company’s governance body responsible for oversight of climate-related risks and opportunities, as well as quantitative disclosures (in particular, greenhouse-gas emissions).

The standards have gained support from many global bodies, including the G7, the G20, the International Organization of Securities Commissions, and the Financial Stability Board. Although no country has yet adopted them, many are expected to endorse or require them in the near future. Countries such as the UK and Brazil are moving toward this direction. Also, the European Commission confirmed that climate-related disclosures of the European Sustainability Reporting Standards exhibit a high degree of alignment with second IFRS standard, and EU-based companies will have to adopt them in 2024.

Are companies ready for this transition?

At the end of March 2022, the ISSB issued drafts of the two standards. Our study explored the ex ante level of firms’ adherence with climate-related disclosures by capturing disclosure levels against those proposed as to be required by the draft IFRS S2 (known as ED IFRS S2). Our year of analysis was the financial year 2021, i.e., the year immediately prior to the publication of the draft. We purposely focused on 100 large international companies in sectors with high carbon emissions, comprising 50 from the chemicals and 50 from the construction materials sectors.

Due to their size, such companies are under increasing pressure from consumers, shareholders, regulators and NGOs to report on their climate-related risks and opportunities. To carry out our analysis, we built a research instrument based on the ED IFRS S2 and scored the firms’ publicly available reports, ranging from annual, sustainability to integrated reports.

Variations in reporting

Our findings indicate that, on average, the companies analysed disclose around 39% of the items they would be required to reveal under the ED IFRS S2. When we zoom into the four categories of the ED IFRS S2 “core content”, we find that companies engage much more with climate-related disclosures about their governance processes (around 60%) but much less with strategy and risk management disclosures (around 36% and 35%, respectively).

For metrics and targets, companies disclosed more of their climate-related targets than reporting their metrics (i.e., outcomes) with average levels around 67% and 35%, respectively. In other words, companies are found to be more vocal about their future plans (i.e., their future targets) than they are about their actual achievements so far (i.e., metrics). The moderate overall level of companies’ forecasted adherence with the draft standard does not allow us to draw a direct conclusion. Nevertheless, a closer look to the findings reveals some additional insights with important implications about the application of IFRS S2:

It draws heavily from the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures (TCFD) recommendations. When we focus specifically on the “new” items (those not included in the 2017 TCFD recommendations), we find that the related average disclosure score drops to about 25%.
Many “new” items relate to the effects of climate-related risks and opportunities on financial statements. Our evidence indicates that climate-related disclosures appear disconnected from the financial statements. This is consistent with our previous studies on companies from the extractives sector that report very low levels of engagement with climate-related financial disclosures in their financial statements. For example, whether climate change affects companies’ accounting policies, their financial performance, and their cash flows.
Companies use various locations to disclose their climate-related information with limited cross-referencing between their various reports. On average, 50% of the items disclosed are found in the annual reports, about 25% are found in sustainability reports only, and around 15% in other reports only (e.g., CDP response). The absence of cross-referencing potentially hinders the connectivity (and hence the usefulness) of the disclosures scattered among different reports.
About 50% of the companies have, at least, some parts of their climate-related disclosures assured by a third party. The assurance refers primarily to the metrics disclosed and to a much lower extent to the narratives.

More challenges ahead

This fast-changing corporate reporting landscape brings new challenges for companies, regulators, standard setters, and users:

Having contrasted the suggested requirements in the ED IFRS S2 and in the final version of IFRS S2, we note few differences that, however, do not alter the requirements in substance. If anything, IFRS S2 is more prescriptive and thus more “demanding” for companies.
Future disclosure. Based on forecasted disclosure levels, companies face considerable changes to their reporting when the two standards are adopted, or made mandatory, at a country level.
New standards on the horizon. The ISSB is considering a number of other sustainability-related topics such as biodiversity, ecosystems and ecosystem services; human capital; and human rights for its future standards. There is still a long way ahead for the ISSB to cover such a multidimensional topic satisfactorily. At the same time, companies may find it particularly challenging to collect all the necessary information for adequately disclosing their sustainability-related activities/impact when the full set of IFRS sustainability standards is completed.
Materiality. According to IFRS S1, companies shall disclose sustainability disclosures that have financial implications for them and their financial capital providers. Nevertheless, the magnitude of various climate-related risks (especially the physical ones) companies, potentially, face inherently cannot easily be reliably measured. Hence, the reliability of these disclosures may be questioned.
Audit and assurance. Neither IFRS S1 nor S2 requires assurance of disclosures, although they recommend verification for some items (such as the volume of direct and indirect greenhouse gas emissions). Nevertheless, companies are required to disclose material sustainability-related financial information which is likely to be subject to the audit process. It is unclear how the audit of this extra financially material information will be performed.
Integrated reporting. The intention of ISSB is to integrate financial and sustainability reporting, following the Integrated Reporting Framework. However, very few companies engage with disclosures directly connected to their financial statements. Without change in reporting, the ISSB’s purpose to provide integrated sustainability-related financial reporting standards may be undermined.
Standards competition. Although the ISSB has received support from many jurisdictions, other countries (namely the EU block and the US) are working on separate projects (e.g., European Sustainability Reporting Standards). While the current “polyphony” helps to improve the quality of sustainability reporting standards, companies may find themselves being subject to multiple reporting requirements. Moreover, users may find it difficult to compare companies’ performance that report against different Standards. Without global comparability, sustainability reporting may fail its very purpose.

To see the original post, follow this link: https://theconversation.com/climate-disclosures-corporations-underprepared-for-tighter-new-standards-study-of-100-companies-reveals-210737

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Personal and Planetary Health Now Increasingly Linked in the Mind of the Consumer, Tetra Pak Index Reveals

11 01 2024

Image: Tetra Pak

From Tetra Pak via CSR Newswire ª Reposted: January 11, 2023

Consumers are now actively considering the environment alongside their individual health when buying food, according to the latest Tetra Pak Index. The study, developed in collaboration with global market research firm IPSOS, also reveals that only 17% are willing to sacrifice food and drinks with health benefits in the current economic climate.

Report Highlights

54% consider the future of the planet when making food choices.
70% say that healthy products shouldn’t harm the environment.

Consumers are now actively considering the environment alongside their individual health when buying food, according to the latest Tetra Pak Index. These environmentally conscious consumers labelled ‘Climatarians’ are willing to alter their eating habits to protect the planet.

The market for healthy foods is already well established, as consumers actively seek products that will have a positive impact on their physical wellbeing. But a significant majority now take a more holistic view: 70% say that healthy products should not harm the environment, while another 54% are willing to take responsibility for the planet and change their diet to contribute to a better world.

This dual focus is reflected in the rising number of consumers consciously reducing the amount of meat they eat, known as “flexitarians”, with nearly half of all consumers saying they are reducing meat intake or excluding meat altogether. The Tetra Pak Index, based on a survey conducted in ten countries around the world by global market research firm IPSOS, found that this trend towards meat reduction is a global phenomenon. 56% of respondents cite health reasons for adopting a flexitarian, pescatarian, vegetarian or vegan diet, but over a third (36%) specifically cite the environment as their primary motivator.

The research also reveals that convenience is no longer king. In a marked shift in long-prevailing attitudes, 70% would sacrifice convenience for healthier products. The drive for health is also unaffected by the cost-of-living crisis, with only 17% willing to sacrifice food and drinks with health benefits in the current economic climate.

A rising trend

The climatarian trend is expected to grow, as the effects of climate change are felt more widely; with consumers expecting food manufacturers to deliver products that are both healthy and sustainable.

Adolfo Orive, President and CEO at Tetra Pak, comments: “The findings of this year’s Index are reflective of the direction we have taken in the last few years, to decarbonise the food industry and make food systems more resilient and sustainable. In many parts of the world, people rely on products such as milk and juices for their daily nutrition, so it is critical to optimise their value chain with innovations in sourcing, packaging, processing and distribution, which is where we have been playing an active role together with our customers and suppliers.

In addition, considering that the world will need 60% more food by 2050, we are complementing these efforts through technologies that can help explore new sources of nutrition – ranging from new plant-based sources to alternative proteins produced with biomass and precision fermentation. Both these areas are critical to contribute towards food system sustainability.”

The potential of new food

Breakthrough new food innovations can play a strong supporting role in delivering products that are not only tasty, but also resource efficient. The good news is that consumers are ready to embrace innovations that improve how we live and eat, with 62% believing that technology has a role to play in a more sustainable future. At the same time, some consumers are concerned that such innovations may not be as natural as fresh, unprocessed food – so finding the right balance will be key.

“This area is developing quite rapidly, and it is difficult to predict when and to what extent it will succeed; but it is only through continued efforts and leveraging collaboration to explore every potential opportunity, that we will find solutions to the current food system challenges” says Adolfo.

To view the full report, follow this link: https://www.tetrapak.com/insights/tetra-pak-index/tetra-pak-index-2023

To see the original post, follow this link: https://www.csrwire.com/reports/792126/personal-and-planetary-health-now-increasingly-linked-mind-consumer-tetra-pak-index

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What to expect from sustainability and social impact in 2024

7 01 2024

Source Images: Andriy Onufriyenko/iStock/Getty Images, Photobank/Shutterstock]

By Susan McPherson from Fast Company • Reposted: January 7, 2023

The landscape of corporate responsibility today looks substantially different than 10 years ago. As the industry continues to evolve, face political backlash, and deal with more complex business and societal issues, we’re beginning to see an increased focus on companies’ most valuable asset, their employees and workers. According to JUST Capital’s 2023 rankings of America’s most “just” companies, the top three companies share a clear commitment to addressing worker issues and investing in employees.

Businesses are catching on and turning their attention to how they can better support their people—including contingent employees such as freelancers, contractors, consultants, and vendors—as well as investors, customers, and communities at large.

We’re seeing more initiatives than ever being created to guarantee that not only products and services but also policies and procedures are adopted to better ensure that workers can thrive in all aspects of their lives. For example, many companies have prioritized offeringbenefits that address specific midlife health and lifestyle concerns, while research suggests that benefits tailored to employees’ needs can have an impact on retention and performance. This shift has most certainly been informed and accelerated by changing quality of life dynamics and quickly evolving technology, the likes of which have made AI a reality across sectors.

The current political climate also influences how businesses have (and have yet to) shown up for people. Globally, we’re witnessing several active conflicts unfold, while 2024 will be the largest election year in history, with more than 40 countries going to the polls. That’s more than 40% of the world’s population. As we look ahead, the state of democracy will also play a key role in what’s next for business.

I asked several experts in the field to gather insights on how sustainability will continue to grow and evolve in 2024. Here’s what they had to say:

IT’S TIME TO FOCUS ON THE “S” IN ESG

This year, experts believe that people will take center stage with businesses making greater commitments to prioritize, measure, and improve quality of life. According to Jennifer Fisher, human sustainability leader at Deloitte: “The “S” in “ESG” has been living in the shadow of “E.” However, leaders and organizations are increasingly realizing that our biggest societal and environmental challenges can’t be solved if people aren’t thriving.

In the next few years, I think the “S” will become a bigger focus on the C-suite agenda and leaders will be investing more in human sustainability, which refers to the degree to which an organization creates value for people as human beings. It considers all people in contact with the organization: not just current workers, but also future workers, extended (contingent, gig, or external supply chain) workers, customers, investors, communities where the organization operates, and society broadly.

I predict that leaders and organizations will not only reflect, but also act on the role they play as stewards of human thriving, making greater commitments to prioritize, measure, and improve human outcomes within their spheres of influence.”

Alison Taylor, executive, NYU Stern School of Business associate professor, and author of the forthcoming book, Higher Ground, added the importance of worker voice as it relates to ongoing conflict: “The focus on worker rights and voice will continue to escalate. Hopefully, we will have a more realistic and sober conversation about how and when corporations seek to advocate for or represent their employees, especially given the ongoing conflict in the Middle East.”

BUSINESS HAS A ROLE TO PLAY IN PROTECTING DEMOCRACY

This year will be a pivotal one in global politics. Taylor believes that corporate political spending and influence will face more scrutiny than ever this year: “I’d say there will be two big themes for 2024. The most obvious one is corporate political responsibility, both domestic and international.

With a fraught and turbulent election year, we can expect renewed scrutiny over political spending and influence and the revival of questions on what corporations should and shouldn’t be doing to protect democracy.” Organizations such as Leadership Now Projectand Business for America are actively engaging with private sector leaders to ensure the United States has both a strong democracy and economy. Each organization regularly shares insightful research and educational materials that business leaders can turn to throughout the year.

PRIORITIZE COLLABORATION OVER COMPETITION TO REACH SHARED GOALS

As corporate responsibility continues to mature in 2024, businesses are moving away from operating in silos towards a more collaborative, mutually beneficial environment. Jeannette Ferran Astorga, executive vice president of corporate affairs, communications, and chief sustainability officer at Zoetis, shared: “In 2024, we expect to see more collaboration versus competitiveness, as companies seek to achieve common goals such as emissions reductions across the value chain. As an example, agriculture, food, and livestock received significant interest at COP28, and improved animal health emerged as a clear climate solution.”

ENSURE THAT SUSTAINABILITY-RELATED SKILLS ARE INTEGRATED INTO VARIOUS ROLES ACROSS THE BUSINESS

When thinking about the workforce that will support business collaboration, Dave Stangis, partner and chief sustainability officer at Apollo, believes sustainability skills will become even more important to various roles within a company. He added: “Despite a fluid global geopolitical landscape, I see sustainability taking a more interconnected higher ground in 2024. With increased global attention, I think we will see greater focus on value creation—both for businesses and society. We’ll see growing attention to adaptation and resilience as more people see the connection between our oceans and severe weather around the world. The sustainability profession has grown immensely over the past decade. This year will continue the expansion and integration of sustainability skills into other corporate roles—especially finance, legal, and strategy.”

ACCESS TO COMPREHENSIVE ESG DATA AND RIGOROUS REPORTING CAPABILITIES WILL BE ESSENTIAL

Comprehensive financial data and reporting have long been available. According to Pamela Gill-Alabaster, global head of ESG & sustainability at Kenvue, ESG data and reporting should be based on the same rigor and assurance. “I believe among the greatest challenges, beyond decarbonizing everything we do, will be addressing the mounting global regulatory requirements for enhanced disclosure of ESG-related impacts, risks, and opportunities. It will become increasingly important to have access to upstream and downstream value chain primary data and the ability to report that data with the same rigor and assurance used for financial reporting. These pressures will likely foster greater collaboration between the ESG function and the financial comptroller’s office and drive demand for better tools for data collection, governance, measurement, auditability, and reporting.”

DOUBLE DOWN ON COMMITMENTS TO MOVE FROM FOSSIL FUELS TO RENEWABLE ENERGY

Although December’s COP28 didn’t explicitly endorse a “phase out” of coal, oil, and gas as many hoped, it did address the concept of “transitioning away” from fossil fuels in power systems. According toAnisa Kamadoli Costa, chief sustainability officer at Rivian, this year will be critical in the continued transition to renewable energy: “I can’t help but see 2024 as a critical year in the transformation of our transportation and energy system from internal combustion engines powered by fossil fuels to electric vehicles powered increasingly by renewable energy. Critical because the pace of this shift needs to accelerate significantly across three levers simultaneously, as laid out in The Pathway Report, which we commissioned together with Polestar: faster electrification; more renewable energy for charging; and decarbonizing our supply chains. We need to move further faster in transitioning away from fossil fuels and I hope that 2024 will be a year of action on this front—it needs to be.”

BE PREPARED TO SHIFT CORPORATE RESPONSIBILITY STRATEGIES QUICKLY, AND IN REAL-TIME

Kristen Titus, founder and CEO of Titus Group, believes that corporate responsibility strategies will continue to evolve in 2024, often shifting in real time given the various issues businesses navigate daily. She shared: “The next 12 months promise to challenge the standards and norms that have guided corporate responsibility efforts over the past decade. Corporations and executives are facing consequential decisions as they navigate economic uncertainties, global conflict, and the impacts of AI on society—all this in a year in which two billion people across more than 40 countries will be headed to the polls. We’re seeing strategies shift in real time, with the public’s trust in executives waning. Expect renewed calls for commitments to economic mobility, responsible AI, education and workforce investments, and time off to vote. Perhaps most notably, AI will be top of mind—for executives, policymakers, for voters and consumers alike.”

In closing, expect much more change ahead. Navigating 2024 will require transparency in addition to swift and adaptive corporate responsibility strategies. By putting employees and workers first, companies can not only navigate the evolving landscape but also lead in making a positive impact across community well-being, climate change, democracy, and much more that we all need during these challenging times.

Susan McPherson is a serial connector, angel investor, and corporate responsibility expert. She is the founder and CEO of McPherson Strategies, a B-Corp certified, communications consultancy focused on the intersection of brands and social impact. To see the original post, follow this link: https://www.fastcompany.com/91004700/what-to-expect-from-sustainability-and-social-impact-in-2024

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, social responsibility, sustainability, sustainable branding, sustainable brands

From gimmick to necessity: Role of sustainability in shaping a brand’s success

7 01 2024

By Yug Bhatia from financial express.com • Reposted: January 7, 2023

As consumers become more aware of environmental and social issues, sustainability has become more than just a buzzword. It has evolved into a crucial component in defining the essence of a successful brand.

While many companies may view sustainability as a mere marketing gimmick, it is essential to recognise that a genuine commitment to sustainable practices can substantially impact a brand’s identity, consumer perception, long-term profitability and societal contribution.

By prioritizing sustainable strategies that align with their values, companies can build a reputation as responsible leaders and gain the trust of consumers who share these values. Sustainability is crucial for all businesses, especially those involved in renewed products.

Renewed products, such as refurbished electronics and appliances, offer consumers a more sustainable option compared to purchasing new products. The businesses involved in this segment aid in reducing waste, conserving resources and reducing the environmental impact of consumerism by extending the lifespan of existing products.

The growth of the used and refurbished smartphone market is a clear example of the evolution of sustainability from a mere marketing gimmick to a necessity. According to research firm Mordor Intelligence, the market size is expected to increase from $56.61 billion in 2023 to $71.91 billion by 2028, with a CAGR of 4.90% during the forecast period. GSMA predicts an even more significant growth, with the refurbished smartphone market alone expected to grow by $140 billion by 2030.

These numbers reflect a substantial change in consumer behaviour and industry focus towards sustainability.

To succeed in this flourishing market, brands must make sustainability their core principle and integrate it into every aspect of their operations. This includes responsibly sourcing materials, adopting eco-friendly manufacturing processes and providing top-notch customer service.

By embracing sustainability, renewed product brands can reap several benefits, including:

Enhanced brand reputation: With sustainability becoming increasingly significant to consumers, brands prioritising it can garner a distinct advantage in the market. By demonstrating a commitment to eco-friendly practices and values, these brands can improve their reputation and attract a growing segment of environmentally conscious consumers.

Reduced costs: Implementing sustainable practices can result in cost savings by reducing energy consumption and waste production. This, in turn, can lead to enhanced profitability for brands that adopt these practices.

Unique competitive advantage: Integrating sustainable practices can also furnish a significant competitive edge over other brands that do not prioritise sustainability. With this, businesses can attract a new segment of customers who value green operations, which can help them gain a larger market share.

It is also essential to understand that contrary to the misconception that sustainability compromises profitability, it future-proofs businesses against evolving regulatory frameworks and consumer preferences.

Today, employees are more inclined towards organisations that are driven by purpose. Businesses with strong sustainability initiatives appeal to top talents who seek to contribute to a more significant cause. Furthermore, apart from hiring, a commitment to sustainability instills a sense of satisfaction and involvement among the workforce.

When employees feel they share the same values as their organisation, they function as brand advocates, leading to enhanced innovation and productivity.

Moreover, sustainability is not just about the environment but also about social responsibility. Brands that actively promote sustainability often support community development, marginalised sections and diversity and inclusion.

By embracing a comprehensive approach to corporate social responsibility, these businesses improve their reputation and foster goodwill among stakeholders, positively impacting society. Furthermore, zeroing in on sustainability will also allow businesses to comply with stringent environmental regulations and meet the growing expectations of new-age consumers.

In the ever-changing business landscape, sustainability is no longer just an advantage but a crucial factor that shapes a brand’s image and prosperity.

The author is CEO and founder of ControlZ. To see the original post, follow this link: https://www.financialexpress.com/business/brandwagon-from-gimmick-to-necessity-role-of-sustainability-in-shaping-a-brands-success-3357349/

Climate literacy: why ESG training for employees is crucial

7 01 2024

Photo: Getty Images via Sustainability Magazine

By Kate Birch via Sustainability Magazine Reposted: January 7, 2023

Forward-thinking companies are schooling their workforce in climate action, building corporate sustainability champions committed to being agents of change

Employees with strong environmental awareness and knowledge play a pivotal role in accelerating corporate sustainability. That’s according to recent Deloitte research, which reveals that companies who educate, engage and empower employees in sustainability will not only bolster worker satisfaction – but accelerate impact and catalyse deep organizational change. And employees want to learn.

According to Salesforce research on the Sustainability Talent Gap, over 8 in 10 global workers want to help their company operate sustainably, with 3 in 5 employees eager to incorporate sustainability into their current role.

“Leading companies today are not only setting science-based targets to slash emissions and drive progress through their supply chains. They’re also engaging their customers and employees to make smarter choices and build momentum for broader societal progress,” says Carter Roberts, CEO of the World Wildlife Fund.

One step many companies are taking is investing in employee training – 50% of leaders surveyed by Deloitte say they are already educating employees about sustainability and climate change, while another 41% plan to launch such a programme within the next two years.

This commitment by companies arrives as the new European Corporate Sustainability Reporting Directive (CSRD) comes into force (January 1) mandating 60,000 companies in the EU to educate and engage key stakeholders.

It is also likely fuelled by the upcoming SEC climate risk disclosure ruling in the US.

Employee training on climate action is no longer a nice-to-have, but increasingly necessary if companies are to reach ambitious net-zero goals.

In an interview with Reuters a year ago, Microsoft President Brad Smith warned that thousands of businesses would likely fail to meet pledges to combat climate change unless they start training employees on sustainability.

“We have to move very quickly to start to bring our emissions down, and the ultimate bottleneck is the supply of skilled people,” he said.

And recent research from LinkedIn’s 2023 Global Green Skills report released at the end of 2023 backs this up – showing that demand for green talent is outpacing the growth of green skills.

To address climate change, we need to understand it

Climate literacy extends beyond a basic awareness or knowledge of climate change and represents a deeper level of understanding, where individuals possess the necessary knowledge, skills, and attitudes to effectively engage in conversations and take informed action regarding climate-related issues.

IKEA for example has trained its 20,000 food workers in technology that has cut the Swedish furniture giant’s food waste by 50%. While drinks multinational Diageo is working with the University of Oxford to equip its executives with ESG skills to ensure a truly sustainable business.

And consultancies like Deloitte and Bain are investing millions in upskilling their consultants in ESG to ensure they have the skills to help clients transform – good for the planet and good for business.

In the words of Deloitte Global CEO Emeritus Punit Renjen: “To address climate change, we need to understand it.”

Under Renjen’s watch, as Global CEO, Deloitte was among the first big companies to roll out a climate learning programme for employees.

As well as building awareness about AXA’s climate strategy and increasing understanding of the impacts of climate change to the business, the training encourages change in employee behaviour and attitude and develops the ability to think critically about climate topics.

To achieve its targets, AXA must act as “an investor, as insurer and as an exemplary company by integrating climate issues in every job of the company”, the company says.

As well as training AXA employees, the Climate Academy is now working with more than 130 organisations worldwide – including organisations such as Microsoft, Unilever and Heineken – to integrate the Climate School, making it accessible to 4 million people worldwide.

Due to increased demand, AXA Climate School has more recently rolled out a new 10-syllabus curriculum called Net Zero School to help knowledge workers across professional services companies to fully understand the decarbonisation challenges of some of the most CO2 intensive sectors, to help their clients decarbonise.

Make employees your biggest sustainability champions

One company that has partnered with AXA Climate School to build sustainability champions among its employees is IT major HCLTech.

Committed to achieving net-zero by 2040 and recently recognised as an ‘industry mover’ in the coveted S&P Global Sustainability Yearbook, the India-headquartered tech giant is taking its 220,000-strong workforce across 54 countries on the climate journey with it.

In 2022, in partnership with AXA, HCLTech launched its Sustainability School and is delivering a comprehensive climate literacy learning series.

The climate literacy course covers topics such as the impending threats to biodiversity, the exploitation of natural resources, and the impact on livelihoods across geographical regions. It also delivers actionable insights, looking at the innovative ways to reduce carbon emissions within HCLTech and with clients – as well as helping employees understand how to reduce their own carbon footprint.

“Our people can be our biggest champions on sustainability and this learning series will provide them with practical tools so they can be agents of change within the company and their own communities,” says Santhosh Jayaram, Global Head of Sustainability at HCLTech.

French fashion conglomerate LVMH takes a similar stance, believing that “each employee can be an actor of change”, Helene Valade, LVMH’s Environmental Development Director said during the Change Now environmental summit that took place in Paris.

Key to this, according to Valade, is the provision of “expert training” and LVMH has committed to environmental education for all 200,000 employees by 2026.

From Vallée de la Millière, a 75-acre wetland located about an hour outside of Paris and home to more than 350 plant and animal species, the luxury goods giant will provide biodiversity awareness and training for employees with programmes tailored around specific employee functions – from a procurement specialist evaluating suppliers of raw materials, a sales associate responding to customer enquiries about a product’s eco credentials or a logistics specialist navigating the most eco-friendly modes of product transport.

Building the ESG expertise and skills of employees is a no-brainer, given sustainability is one of the defining issues of the time.

This is especially true for consultancies, financial institutions and tech companies for whom ESG is increasingly central to business success, as they work with clients to improve their ESG performance.

Supporting the client transition – green skills

Take Nordea. As the largest financial services group in the Nordics, Nordea has an opportunity to support and strengthen clients through climate change – and is tapping this with the launch of a new modular sustainability training programme that allows its more than 30,000 employees to tailor the curriculum to suit their specific needs and roles.

According to Anne Schult Ulriksen, Head of ESG at Nordea’s Large Corporates & Institutions unit, the aim of the programme is to “help ensure that we remain relevant, competent and compliant on sustainability topics, and that we continue to support our clients’ transition towards a more sustainable net-zero future.”

Developed in-house to bring out the Nordea perspective (the bank’s own goals and policies and the challenges its clients typically face) the curriculum ensures all staff understand Nordea’s positions on sustainability issues and equips them with the skills to support client shifts to sustainable business practices.

Categorised into 10 core modules, the training covers topics ranging from Nordea’s sustainability strategy and the current reporting and regulatory environment to sustainable products and services, engagement and stewardship, and ESG ratings and research.

In developing its ESG curriculum, consulting giant Bain & Company realised the need for bespoke content and has tapped some of the world’s leading universities.

Long considered a sustainability frontrunner in the industry, achieving carbon neutral status for the past 10 years in a row, Bain is not just committed to tackling its own footprint but that of its clients – and this requires a deep understanding of ESG matters.

“To become the leading consulting firm in ESG, we needed to ensure all our employees have mastered these topics,” says Brussels-based Bain Associate Partner Alexandre Gueulette.

So, its Sustainability & Responsibility practice set about developing a programme to cater to employees with different baseline understandings – unveiling a global initiative with local implementation.

Each region partnered with a major university (12 world-class universities are involved) and developed its own curriculum to equip Bain professionals (Bainies) with the ESG skillsets they need, from carbon transition to circularity and food systems, tailoring each to the relevant demands of the thousands of consultants across 40 countries.

While the Italy team developed four modules with Bocconi University, Bain’s Australian offices partnered with the Melbourne Business School to create three modules and two masterclasses with training covering climate science and policy, planetary boundaries, doughnut economics, climate risks, and more.

In the Americas, the team partnered with MIT Sloan to develop the ‘Sustainability in Action’ training programme and 1,100 Bainies opted in to learn how to make the business case for sustainability and explore sustainable business strategies.

The training was rolled out to all Bain consultants digitally throughout 2023.

Bain’s ESG training programme was rolled out to all Bain consultants digitally throughout 2023

Take a Sustainability Masters at EY

Taking sustainability education to even greater heights, Big Four firm EY offers its global employees the opportunity to undertake a Master’ Degree – without charge.

Launched in collaboration with Hult International Business School in 2022, the EY Masters in Sustainability aims to significantly expand sustainability and climate literacy among EY’s staff, helping them transfer their skills into sustainability services for clients around the globe.

Delivered entirely online and available to all EY’s 312,000 global employees, the customised curriculum looks to efficiently upskill students in high growth areas for client work.

“EY people are passionate about tackling global challenges and this qualification will help both the EY organisation and EY clients become true leaders in building a more sustainable world,” say Carmine Di Sibio, EY Global Chairman and CEO.

Whatever the approach, educating and empowering employees in the fight against climate change is a no-brainer.

To see more, follow the original post using this link: https://sustainabilitymag.com/sustainability/climate-literacy-why-esg-training-for-employees-matters

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Tags: 2023 Global Green Skills REport, accountability, Climate Literacy, corporate social reponsibility, corporate social responsibility, CSR, Deloitte Research, employee engagement, ESG, green marketing, responsible brands, sustainability, sustainable branding
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, social responsibility, sustainability, sustainable branding, sustainable brands

How Internal Communications Can Unleash Employee Ingenuity on Sustainability Challenges

3 01 2024

Image: Beem

By Noah Keteyian via Sustainable Brands • Reposted: January 3, 2023

People everywhere are feeling the effects of climate change and want to be part of the solution. Business leaders who engage their employees in sustainability initiatives will help them feel more connected and create new opportunities to shape the future.

Extreme weather events, global carbon emissions and biodiversity concerns are rapidly accelerating the need for corporate sustainability action. For years, the private sector has been investing significant resources into achieving time-bound goals; and now, these investments — together with advancements in climate technology — are reshaping our economy and creating new opportunities in the workforce.

Recent WE Communications research, Winning the Battle Against Green Fatigue, finds that even as employees are overwhelmingly eager to get involved in their companies’ sustainability activity, few are actually participating. A targeted internal-communications strategy can help bridge that divide and mobilize employees.

Here are four places to focus:

1. Make connections, so employees see the impact of their work.

The bad news: Two-thirds of employees say they have little to no involvement in their companies’ sustainability efforts. The good news: 78 percent say they want to take part.

How do employers bridge this gap? Empowering employees can change the face of your commitments. Rally every employee to the cause, regardless of role, and tightly connect sustainability to your organization’s mission and purpose. Ask employees for their ideas. Upskill them as, for example, new AI-supported tools come online to rapidly embed sustainability throughout supply chains.

People want to feel like they are part of something greater; and the right communications can show employees how their role contributes to the bigger picture. As your organization makes real progress toward 2030 or 2040 goals, every employee becomes part of that success.

2. Embrace transparency along the way.

2030 sustainability goals aren’t just about back-of-house reporting anymore. Increasing occurrences of extreme weather — such as wildfires, flooding and droughts — have emphasized the immediate impact climate change has on people’s personal lives and communities. Because employers are integral members of the communities where they operate, people want to know what their organization is doing to help.

Other recent WE research, It’s Personal: The New Rules of Corporate Reputation, found that 75 percent of people say organizations should be transparent in communicating what they do in response to issues in society. This need for transparency is particularly important when companies fall short of sustainability goals. While only one-third of C-suite executives surveyed in Winning the Battle Against Green Fatigue agreed that transparent communication is a must in this situation, nearly half the broader workforce said it’s necessary. By embracing transparency, leaders show how they’re listening to employees and have a shared understanding of what’s important.

Transparent communication means you don’t have to wait until you have great results — keep your employees in the loop with sustainability reporting and milestones, whether you’re succeeding or falling short. Employees want to be part of the process; so, involve them early by sharing steps along the way and they’ll become more invested.

3. Rethink sustainability metrics

In the face of technological advances and workforce changes, integrate sustainability considerations right up through business planning and tools deployment. Embedding sustainability throughout organizational processes creates multiple points to connect with employees and will help address skepticism: Winning the Battle Against Green Fatigue also found nearly half of employees (45 percent) suspect their company of greenwashing at some level.

To prove your organization is in for the long haul, share sustainability metrics on a par with other business reporting. When employees hear the CEO talk about sustainability efforts in the same breath as earnings — and with follow-up from their managers on how they tie to team goals — it demonstrates a central connection to the business.

Steady clarity of communication gives organizations a way to provide a plan to get back on track when targets are missed. Our research shows that most employees will forgive setbacks to sustainability goals if there is also clear information about the path forward.

4. Create sustainability spotlights.

Facing the climate crisis can feel overwhelming; for the individual, it can seem like a lost battle. Help employees feel the strength in the organization’s numbers by encouraging sustainable or efficient behavior through rewards and recognition programs. Highlight benefits that work for people and planet — such as public-transportation vouchers, volunteer hours to restore a local wetland, or gift cards for local or sustainable businesses for those who find innovative ways to conserve company resources. How about a leaderboard that keeps a running tally of how much carbon employees are keeping out of the atmosphere by taking advantage of sponsored programs?

These shout-outs can help build momentum throughout the organization and show people how their direct actions, their colleagues’ efforts, and business innovations create meaningful outcomes.

Noah Keteyian is WE’s executive vice president of corporate reputation and brand purpose. To see the original post, follow this link: https://sustainablebrands.com/read/organizational-change/internal-communications-employee-ingenuity-sustainability-challenges

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, Employee Egagement, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands, We Communications, Winning the Battle Against Green Fatigue
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, lack of trust, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Can Advertising Ever Really Be Good for The Planet?

3 01 2024

Graphic: Getty Images

By Tom Idle from Sustainable Brands • Reposted: January 3, 2023

Ad-tech platform Good-Loop is helping advertisers connect with the public and overcome people’s desire to block ads by combining consumer engagement with charitable brand donations.

2023 saw a further wave of brands get behind the anti-Black Friday movement buoyed by a growing group of people concerned about the environmental implications of consumerism. Joining the likes of REI and Patagonia in boycotting the traditional day of discounted sales were beauty brand Lush, sustainable shoemaker Veja and UK electrical retailer Curry’s — which, instead of selling as many TVs and stereo systems as possible, used Black Friday to offer deals on home appliances that reduce energy usage.

Yes, people are becoming more worried about what overconsumption means for the planet — but also about the impact of flash sales and marketing on people’s mental health. As the Money and Mental Health Policy Institute points out, events such as Black Friday can “place great stress on people’s shopping experience. Periods of poor mental health can in some cases be accompanied by more impulsive decision making, or anxiety and worry about the future.” In selling us stuff we don’t really need, reinforcing a fear of missing out and, in some cases, using aggressive tactics to boost sales, the advertising industry has rightly come under scrutiny.

There have been pockets of progress in making sure that the advertising we do see is at least not fuelling sales of the most environmentally damaging industries. In France, for example, legislation has been introduced banning the advertising of energy products related to fossil fuels; and Sydney, Australia has banned fossil fuel-related advertising across its properties and events.

And then there’s the environmental impact of online advertising, in particular. According to Purpose Disruptors, it is responsible for around 28 percent of the average consumer’s carbon footprint. Another study finds that online advertising “consumes vast amounts of energy” — contributing up to 20 percent of the total internet infrastructure’s consumption.

But what if advertising could be good? After all, the industry is one of the most influential drivers in changing the way we buy, use and dispose of everything.

Well, Amy Williams believes she has hit on an idea that will transform how we consume adverts online. She is co-founder of Good-Loop — an ethical ad agency that “exists to make advertising a positive force in the world,” says Williams, who describes herself as an “accidental sustainability nerd” whose previous career was the “antithesis of sustainability.”

“I had a moment where I reflected on what I was doing, and it didn’t feel important enough,” she tells Sustainable Brands®. “Selling more fabric conditioner is not important enough. I remember thinking, ‘I either quit and retrain to become a lawyer or a doctor, or I can stay where I am and use this industry to do good and turn the tanker in the right direction.’”

Excited by what the ad industry is capable of (“Thanks to its one-pack-one-vaccine programwith UNICEF, Pampers has wiped out neonatal tetanus in multiple countries”), she chose the latter: “I don’t think big corporates are going to save the world; they’re going to make money and they’re going to do it any way they can. But it’s my job to show them how they can make money by doing good.”

Clicks, eyeballs and impressions

The idea for Good-Loop was born out of a frustration with ad-blocking (“the biggest boycott in human history”). A third of all internet users block ads from their user experience — and that’s bad news for brands. They don’t want to annoy online consumers; but they do want to be seen and heard, to build trust and foster connection. “Everything is so focused on clicks and eyeballs, and achieving the lowest possible price for the highest number of impressions. All of the incentives are misaligned to create a really unpleasant advertising experience,” Williams says.

Brands that use Good-Loop as their agency can combine getting those eyeballs and engagement with making a charitable donation. If online users choose to engage with a brand, they unlock a free donation funded by the brand. To give an example: Healthy snack giant Nature Valley’s purpose is all about getting people out into nature; and it has a big platform focused on on protecting and preserving national parks. The company worked with Good-Loop to create a bespoke ad experience whereby users who don’t press the ‘skip ad’ button on the video ad help to fund the brand’s national park preservation efforts.

“Last year, the brand planted over 66,000 trees in US National parks using the money that’s generated every time someone doesn’t skip the ad,” Williams explains. “It’s a little value exchange — which says, ‘if you give some attention to this ad, we’ll give a donation.’”

The company also makes sure brand ads are as sustainable as possible (by compressing font files or reducing animation libraries, for example, so they use as little energy as possible) before distributing them across the web and social platforms. It also offers a service to measure the carbon impact of digital campaigns, with the option to buy offsets and take action to reduce it.

“We also work with our customers to fund climate journalism — because wherever your ads appear, you are funding that journalism. That’s a big part of the responsibility of advertisers.”

Beach ideas

Good-Loop was also born out of Williams’ experience working with brands that were increasingly investing in social purpose. Among her clients, Unilever brand Dove’s “Real Beauty” campaign was gaining traction with customers, and yet it was completely disconnected from the media landscape. She could see an opportunity, but it would take a few more years for Williams to realise the potential of her idea.

She quit her job in Ad Agency Land, and enrolled herself on a female-only entrepreneurship course in South America. It was there, on the beaches of Val Paso, Chile, that her ideas for Good-Loop started to formulate. On her return home to the UK, she met Daniel Appel — a Scot who was in the process of building a white-label advertising technology — in an online forum; and they decided to build their new business idea together.

“That was in October. By Christmas, we had investment and I pitched the idea for Good-Loop to my old client at Unilever; and we were put into their brilliant little incubator, called the Unilever Foundry,” Williams says. “As soon as we got Unilever, I went straight to The Drum — we got front-page coverage, the wheels started rolling and we gained momentum really quickly.”

Williams puts her success down to leveraging the storytelling and the inspiring aspect of using big brands to do good. Seven years after launch, Good-Loop has raised more than £8 million for charities around the world and measured and offset the carbon emissions from over two billion ads: “We’ve worked with 80 percent of the world’s top 100 brands; and I’m proud to say we’re the first ad-tech company in the world to be B Corp-certified.”

As she ponders what she has achieved so far, Williams admits she never imagined Good-Loop having this much impact.

“It’s not recognizable to the business I planned on those beaches in Chile; but the fundamental idea of harnessing the power, scope and influence of the world’s biggest brands hasn’t changed.”

Other than “eating an elephant in chunks and never looking too far ahead,” does she have any advice for people starting up purpose-led businesses?

“Don’t be embarrassed about making good profit margins. I think for a lot of social businesses, there’s an expectation that they survive on crumbs because the mission is so big and worthy that all the money should go there. But running a business on tiny margins is unsustainable; and if you really want to make change, you have to build a sustainable business first and then worry about sustainability.”

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/can-advertising-be-good-planet

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, Good-Loop, green marketing, Money and Mental Health Policy Institute, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

What makes a chief sustainability officer transformational?

28 12 2023

By Kate Birch from Sustainability Magazine • Reposted: December 28, 2023

CSOs must be given a strategic seat at the table and empowered to hold C-suite peers accountable, says EY Global Vice Chair Sustainability Amy Brachio

In recent years, the role of the Chief Sustainability Officer (CSO) has transitioned from the corporate side lines to the epicentre of business strategy.

While once, sustainability leaders were referred to as ‘stealth PR executives’, Robert Eccles and Alison Taylor wrote in a recent Harvard Business Review piece – the CSO role has evolved into one that is “finally becoming strategic” as the focus moves from “feel-good corporate social responsibility to hard-nosed sustainable value creation”.

More than mere organisational change, it is a transition that highlights the increasing significance of sustainability in business beyond regulation and compliance.

As Amy Brachio, EY’s Global Vice Chair of Sustainability explains in the 2023 EY Sustainable Value Study – “CSOs are being tasked with identifying the sustainability issues that have a significant impact on an organisation’s financial performance and risk profile”.

But even CSOs in the most sustainably committed organisations are struggling – given the slow pace of progress on climate action and lack of cross-function collaboration.

And this is driving concerning levels of CSO dissatisfaction.

EY data reveals only 17% of CSOs (and equivalents) are “highly satisfied” in their roles and 42% not say they aren’t committed to staying with their current employer.

Nearly half (42%) of CSOs say they are not committed to staying with their current employer

Challenges CSOs face today

As global economic and geopolitical headwinds gain momentum, company progress on climate action is ebbing – CSOs are receiving less spend and on top of that are being pressured by C-suite peers for short-term actions and results.

EY’s study, which surveyed 520 CSOs and corporate responsibility leaders at companies with over US$1 billion in revenue across 10 industries and 23 countries, reports an average decline in GHG of 20%, down from 30% in a study last year, along with a decrease in the average number of actions organisations are taking relating to climate change to 4, from a prior average of 10.

And looking to 2024, just 34% say their organisation plans to increase spending to address climate change in the year ahead, compared to 61% last year.

“Amidst the backdrop of unprecedented geopolitical tensions, sustainability leaders are facing clear challenges with resource allocation,” says Brachio.

Their jobs are made even more challenging given that nearly half (46%) say they don’t have the authority to hold their C-suite counterparts to account for their performance on sustainability initiatives.

EY Global Vice Chair Sustainability Amy Brachio. Image: Sustainability Magazine

Which is where the ‘transformational’ CSO comes in.

Identified by EY as agents of change, the ‘transformational CSO’ is more likely to turn climate commitments into action.

While just one in five organisations employ a transformational CSO, those who do have initiated or completed 1.4X more climate actions on average than those without, finds EY.

Companies with transformational CSOs are also more committed to climate impact reductions, with half set to spend more next year, and drive higher emissions reductions. And a transformational CSO is more satisfied and less likely to consider leaving their role.

Rise of the ‘transformational’ CSO

So what makes a CSO ‘transformational”?

EY research points to both the background of the person chosen to lead an organisation’s sustainability agenda and how they are brought into the role as influential in their ability to have a meaningful impact.

Described by EY as a leader who can “influence, negotiate, broker, and listen”, the ‘transformational CSO’ has both operational background and the influence to drive business strategy and implementation.

Put simply, transformational CSOs are experienced in leading change at scale – and play a “significant role in setting company strategy and actively engaging with shareholders, investors, and customers”, according to Pilar Cruz, Cargill’s Corporate CSO.

It’s a pivotal change to the traditional CSO role that demands professionals have a deeper background in commercial, operations, finance, and business transformation.

As Dr Lutz Hegemann, the President or Global Health & Sustainability at Novartis, puts it: “You need to have someone who has a very thorough business understanding” because “you don’t want a sustainability strategy and a business strategy – you want a sustainable business strategy”.

It’s not just about a CSO having the necessary background – but the way in which are they are empowered by the C-suite to drive the strategy.

As sustainability leaders play an “increasingly strategic role” in navigating both the internal and external challenges of moving from climate ambition to climate action, Brachio says it is essential they are “not only empowered to drive sustainability initiatives but also have the operational mandate to integrate their plans into a wider business strategy.”

These ‘transformational CSOs’ have more resources at their disposal, such as a dedicated budget and team, and exert greater influence internally.

Transformational CSOs collaborate better across the C-suite / EY

So, what actions should they take to facilitate CSOs as agents of change – as transformational?

Select (or develop) a CSO with a deep understanding of the business model. Empower them so their imperatives are understood as being core to business value
Give CSOs a strategic seat at the table (i.e., reporting to the CEO and access to the board) and the ability to drive accountability for sustainability initiatives across the entire business
Strengthen internal collaboration by creating governance structures that drive cross-functional teaming collaboration, such as business-level sustainability councils chaired by the CSO
Empower the CSO to help set sustainability strategy and goals; build the capacity of the sustainability function to collaborate with the business on executing the strategy
Have the CSO take point to ensure that the organiSation understands and is prepared to meet emerging policy changes and new reporting obligations across the domains where the organiSation operates.

To see the original post, follow this link: https://sustainabilitymag.com/sustainability/what-makes-a-chief-sustainability-officer-successful

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Tags: accountability, Chief Sustainability Officer, corporate social reponsibility, corporate social responsibility, CSO, CSR, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

‘Tis the Season of ‘Giving Back:’ The Environmental Impact of Holiday Returns

27 12 2023

Image: CNN

By MELANIE NUCE-HILTON via Sustainable Brands • Reposted: December 27, 2023

Addressing the fate of returned items — and the larger issue of ‘wrap, return, repeat’ consumer culture — requires adoption of smart technologies to offset losses and improve retail’s environmental impact during the holiday season and beyond.

Tis’ the season for gift giving; and unfortunately for retailers, that means a rush of returns is just around the corner. Four in 10 consumers expect to return at least one gift to retailers during the holiday season – in fact, 31 percent plan ahead for this by buying multiple variations of the same item. It’s no surprise return volumes are projected at $627.3 billion in 2023 — shedding light on the hidden costs associated with the season of “giving back.”

Returns — encompassing wasted time, packaging and energy — pose significant challenges for retailers. The average return costs around $30, prompting 59 percent of retailers — including Amazon, Target, Walmart and Wayfair — to adopt “returnless” or “keep it” policies for items with return costs surpassing their actual value. However, the fate of such products still rests with the customer — with only 34 percent inclined to donate returnless merchandise, highlighting the barriers to environmentally responsible disposal.

To address the escalating cycle of excessive ordering and returning, retailers must adopt innovative strategies. These include leveraging consumer reviews and technology to assist shoppers in finding accurate sizes, charging for returns to discourage frivolous behavior and employing smart warehouse automation to streamline back-end logistics. Efficient inventory and return management are crucial to offsetting losses and reducing environmental impact.

Rethinking the ‘wrap, return, repeat’ status quo

Most consumers assume that returned items find their way back to store shelves, but the reality is far from guaranteed. The life and sustainability of a return varies across retailers due to differences in condition, packaging, tags and duration away from the store. This intricate process — involving shipping, inspection and sanitization — often costs retailers up to 66 percent of the product price.

As a result, many retailers opt to send perfectly usable items to destruction zones and landfills — contributing to the alarming 5.8 billion pounds of goods returned to US retailers that end up in landfills annually. Perhaps more troubling is the fact that 71 percent of consumers would alter their shopping habits if they were aware of thiswasteful reality. Some 40 percent of storeshave begun charging for returns to dissuade consumers from sending products back; but this strategy risks alienating consumers who prioritize customer experience and cost savings amid an inflationary economic climate.

Addressing the fate of returned items — and the larger issue of “wrap, return, repeat” consumer culture — requires adoption of smart technologies to offset losses and improve retail’s environmental impact this holiday season and beyond.

Improving efficiency from sleigh to shelf

Successful inventory and return management hinges on knowing exactly what is in stock and where at any given time, so retailers can ensure all returnable products make it back on the shelf and online availability accurately reflects physical inventory. This allows them to sell down to the last item, offer final-sale discounts on products that are frequently returned, and take additional steps to mitigate overstock that may take up valuable warehouse space. Technologies such as radio frequency identification (RFID) help retailers track and trace items accurately, and enable the seamless return of products to shelves. RFID also aids in combating fraud — a significant concern during the holiday season. According to the National Retail Federation, for every $100 of returned merchandise, retailers lose $10.30 to fraud; and there’s a 70 percent increase in fraudulent returns during the holidays. It often occurs in the form of wardrobing (or wearing and returning), or when consumers return empty boxes or stolen goods.

Moreover, smart warehouse automation — combining human expertise with robotic efficiency — reduces restocking charges and alleviates strain on supply chain workers. Automated systems are also highly scalable and adaptable to changing demands. As the volume of returns fluctuates during peak seasons such as the December holidays, automation can be tuned accordingly — ensuring that the supply chain remains flexible and responsive to market dynamics. The incorporation of smart warehouse automation in the context of returns and restocking not only drives efficiency and cost-effectiveness but also fosters a more balanced and sustainable work environment for supply chain workers. This collaborative approach paves the way for a future where the challenges of returns are met with streamlined processes and reduced environmental impact.

Beyond the holiday season

However, even with these advancements, it’s important to consider the fate of non-returnable items and the broader issue of retail packaging. The unfortunate reality is that online retail alone is expected to use more than 4.5 billion pounds of plastic packaging by 2025. Additional estimates show that even though nearly 90 percent of cardboard boxes are recycled, 350,000 tons of them still end up in landfills today — and that’s not even mentioning the countless other packing materials or garments consumers throw away. The EPA estimates annual landfill methane emissions as equivalent to driving 20.3 million cars for one year — a clear call to action across industries.

Beyond the current holiday season, retailers acknowledge the need for systemic change. Initiatives such as persistent identification, integrating machine-readable data into product fabrics, and the movement towards QR codes replacing traditional labels showcase the industry’s commitment to reducing, reusing and recycling. One such initiative is Sunrise 2027 — driven by the retail industry with GS1 US. The effort is focused on the migration from UPCs to 2D barcodes, commonly seen as QR codes on product packages. These codes allow brands to link to limitless information about an item — such as the garment’s fiber composition and recycling instructions, via product packaging. Retailers will have to be able to scan these codes at POS by 2027 as brands increasingly shift to 2D. This shift aims to enhance sustainability by facilitating easier and more responsible disposal of products. There is even a movement for these codes to replace traditional clothing labels and tags, which produce enough label tape to reach the moon and back 12 times each year according to theAAFA.

Yet the long-term success of these efforts requires a collective consciousness among consumers regarding their purchases and a continuous commitment from brands and retailers to innovate and implement sustainable practices. As the industry advances towards more circular processes, it is the joint responsibility of consumers and retailers to navigate the aftermath of holiday returns with an environmentally conscious approach.

The retail industry is making progress on sustainability every day; but long-term results will require consumers to be more conscious of what they purchase and where the items go at the end of their lifecycle — and for brands and retailers to continue finding new ways to reduce, reuse and recycle.

Melanie Nuce-Hilton is SVP of Innovation and Partnerships at GS1-US — a not-for-profit, international organization developing and maintaining standards for barcodes. See the original post, follow this link: https://sustainablebrands.com/read/waste-not/season-giving-back-environmental-impact-holiday-returns

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Tags: accountability, Amazon, Circular Economy, corporate social reponsibility, corporate social responsibility, CSR, ESG, Gift Giving, Holiday Returns, National Retail Federation, responsible brands, sustainability, sustainable branding, sustainable brands, Sustainable fashion, upcycling
Categories : corporate social responsibility, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Seven tips for ethical shopping this Christmas

13 12 2023

Yule be glad you did. Image: Eriheorghiu

By Simon Oldham, Lecturer in Human Resource Management and Organisation Studies, Royal Holloway University of London and Laura Spence, Professor of Business Ethics, Royal Holloway University of London via The Conversation • Reposted; December 13, 2023

As you walk into a shop or go online to hunt for Christmas gifts, it can feel pretty daunting. Who needs what, how much will it cost, will they like it? But also very important: am I making a good choice in where I am shopping?

To tick that last (ethical) box, many of you will rightly be wanting to buy from local retailers this festive season. Small businesses are the cornerstones of local economies, providing essential goods and services and vital community engagement. They contribute £2.4 trillion a year to the UK economy and provide 16.7 million jobs, yet many are struggling with the cost of living crisis and particularly in need of support at the moment.

When it comes to ethical purchasing from shops – or other businesses such as local manufacturers – our study of the research literature suggests it’s wise not to make assumptions. There can be considerable variations in how shops approach issues like environmental sustainability and fair treatment of employees.

It’s not always obvious what the policies are, since these businesses can shy away from talking directly to customers about this subject. This can mean they are not rewarded for doing the right thing, so taking some time to find out their policies may have a disproportionately positive impact.

To help you buy as ethically as possible this Christmas, here are seven tips.

1. Look for clues

If you are shopping in-store, look out for posters, ethical pledges or awards which show some commitment to, for example, reducing the business’s carbon footprint or paying employees a decent wage. You can also check in-store or online whether the business has an in-built social or environmental purpose, for instance whether it is a social enterprise, B-corp or cooperative.

2. Listen to staff

Workers in small retailers often describe a relaxed and family-like experience, but there are exceptions. Take a moment to consider whether the staff seem happy in their work, and are confident and supported in what they are doing.

Also be aware that there are occasional examples of retailers using illegally employed labour, paying below the minimum wage, or exploiting workers in other ways. Tread carefully if you have suspicions – you could unintentionally make things worse for the workers by asking too many questions. The charity Unseen is a great source of advice in such situations.

3. Go eco

Look out for businesses that offer environmentally friendly options like organic, recycled and upcycled products, or that specialise in only selling eco-products. Check out a website like Ethical Revolution for recommendations.

4. Ask questions

Buzzwords like “ethical”, “sustainable”, “natural” and “locally sourced” have become commonplace, but how a retailer defines and commits to them can be very different. Take the word sustainable. For some businesses this may mean they comprehensively try and reduce their footprint across the board, while for others it may mean something much more simple like trying to recycle or reduce their energy consumption.

If you aren’t sure what a business means by a word or phrase, don’t be afraid to have a chat and clarify with them. Equally, take a moment to ask about the provenance of a particular product, item or ingredient. Even if the answer isn’t ideal, you will learn a lot if the staff are aware and interested themselves.

5. Get familiar

Many third-party labels indicate a product’s social and environmental impact. Fairtrade, Organic, Rainforest Alliance, Carbon Neutral and Forest Stewardship Council are all examples from a long list, some of which provide more assurance than others. Not all require a business to be checked or verified by an independent body before they can use the label, for instance. This list is a good guide to what these labels really mean.

Pair of boots with a Carbon Neutral label — Image: *Heeling the environment. Diaconu94Ana*

6. Ask around

Small retailers often don’t shout about the excellent work they do, such as helping the local community, going above and beyond for staff, or significantly reducing their environmental footprint. It can be just something they do as part of their identity and purpose.

So keep your eyes open locally and ask friends and colleagues if they hear good things about particular retailers. When you come across one that stands out, shout about it on social media. Also keep an eye on the local media, including social, since they have a role to play in identifying and promoting businesses which positively contribute to their community.

7. Take the long view

Just like people, no organisation is perfect. Try to be supportive and help your local businesses to improve. There may be a few unscrupulous ones making exaggerated claims, but most are just doing their best, so it’s good to encourage those taking steps in an ethical direction. Give them your repeat business where you see engagement and improvements and let them know you care.

Christmas, it must be said, can be a somewhat uncomfortable mix of goodwill and raging consumerism. Of course, there is lots we can do to avoid unnecessary purchases – such as buying second-hand or vintage, re-gifting, or donating to charity instead.

But when we do buy something new, it feels great to do so in a way which helps others. So support local, ethical stores as much as you can to help them go from strength to strength and continue contributing positively to the community.

To see the original post, follow this link: https://theconversation.com/seven-tips-for-ethical-shopping-this-christmas-219410

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Tags: carbon neutral, Christmas shopping, CSR, ESG, Ethical gifts, Fairtrade, Rainforest Alliance, responsible brands, sustainability, sustainable branding, sustainable brands
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Is Your Business Resolute Or Reactive On Sustainability?

13 12 2023

Image: Forbes.com

By SAP Insights via Forbes.com • Reposted: December 13, 2023

Is your business resolute?

Considering the insane challenges facing businesses these days, the answer is undoubtedly yes.

But what about when it comes to sustainability? Ah okay, a lot fewer hands go up.

Indeed, an SAP Insights survey finds that just 12% of respondents are resolute in their pursuit of sustainability. The rest? They are reactive: In these businesses, sustainability is driven more by external forces than internal strategy.

But “The Resolutes,” as we call them, don’t just have a strong internal strategy for sustainability, they also think sustainability is directly tied to business competitiveness. They are more likely than everyone else to expect a quick return on their sustainability investments. They also report higher revenue growth than other respondents in the survey and say they are more profitable.

How do they do it?

The Resolutes approach sustainability with more rigor and discipline than their peers: They are 13.8% more likely to expect payback within the next one to three years – the same heated-up period that drives other strategic investments.

They are more than twice as likely to say that sustainability contributes to positive business outcomes, such as increased revenue, profitability, and growth. Sustainability also helps them improve the quality of their products and services, make their processes more efficient, and cut costs.

How does a company gain rigor and discipline over any investment and achieve positive business outcomes? With data. The Resolutes are more likely than other respondents to report that they are completely satisfied with their data.

They are measuring seven of nine common sustainability areas – including energy consumption and emissions, air pollution, and resource availability – more often than everyone else. They are also more likely to be collecting their data using direct measurement rather than assumptions and estimates.

Does it take more than resolve and data to integrate sustainability with business strategy and have it pay off in better performance? Of course it does. Read the report, To Profit from Sustainability, Be Resolute, to get the full picture.

To read the original post, follow this link: https://www.forbes.com/sites/sap/2023/12/12/is-your-business-resolute-or-reactive-on-sustainability/?sh=2c558f92e89b

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, SAP Ingiths, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, ESG, green marketing, social responsibility, sustainability, sustainable branding, sustainable brands

Building Trust Through Your Sustainability Narrative

12 12 2023

By Amy Romero from Sustainable Brands • Reposted: December 12, 2023

We ranked 1K companies on transparency, leadership and connectivity in conveying their sustainability narrative. Here are 4 insights into how global companies are successfully communicating their ESG efforts.

New research from the NYU Stern Center for Sustainable Business has found that US consumers will reward businesses that practice sustainability; but a Bentley/Gallup poll shows widespread distrust because brands are falling short of their sustainability commitments.

What does the discrepancy mean? That US consumers will reward sustainable brands — but brands must first earn their trust. And in order to do that, businesses need a better playbook.

First off, let’s state the obvious: Sustainability is not a buzzword — it’s a vital issue intertwined with the future of the planet; and US consumers are willing to buy from, work for and invest in sustainable businesses. By far, most younger US adults say they’d switch jobs to work at an organization that has a greater positive impact on the world. But for too long, businesses have taken a check-the-box mentality when reporting their own sustainability commitment. To build trust, companies need to embrace a more rigorous and thoughtful approach from the top-down.

As part of our Sustainability 100 Connect.IQ Special Report, IDX analyzed 1,000 corporate and Investor Relations websites and ranked companies based on their transparency, leadership and connectivity in conveying their sustainability narrative. By examining the 100 top-scoring companies, we were able to compile insights as to how global companies are successfully communicating their ESG efforts and found that:

Transparency and materiality are essential.

Transparency means communicating meaningfully and consistently — not just with an annual summary but throughout the year. It involves addressing the most material issues your business faces, your plans to tackle them and your performance against set targets.

For instance, we found that companies including Landsec and AT&T demonstrate their sustainability strategy and materiality assessments effectively. They provide clear, easy-to-understand explanations of their commitments and performance — aligning their sustainability actions with their business goals.

C-suite engagement is paramount.

Your company’s leaders must champion sustainability initiatives, both within and outside the organization. By leveraging the voices of your C-suite and senior executives, you can add credibility to your sustainability narrative.

Intel CEO Patrick P. Gelsinger and SAP Chief Sustainability Officer Daniel Schmid are excellent examples of leaders who actively promote their commitment to sustainability through video messages and blog posts. Their personal narratives help connect the company’s vision to its leaders’ commitment.

Bridging internal and external efforts is key.

Connectivity is all about integrating sustainability into every aspect of your business — from internal operations to external partnerships. The UN Sustainable Development Goals provide a framework that many companies align with; but it’s crucial to make these goals relevant to your specific business activities.

Companies including HSBC, Nestlé and Vodafone connect their sustainability goals with their overarching strategies — ensuring that their purpose guides both corporate and sustainability efforts. By clearly demonstrating your initiatives internally and externally, you can showcase your commitment to holistic sustainability.

Amplifying your sustainability story must be a priority.

Your website is your home base for sharing your sustainability narrative, but social media allows your brand to take its sustainability story to your audience in real time. Companies including Bayer, Microsoft and Unilever effectively utilize social media to expand their reach, respond to ESG issues, and tailor their messaging to different global audiences.

But remember, you must:

Be consistent. Make sustainability a regular part of your content schedule.
Be authentic. Showcase your genuine commitment to sustainability.
Use visuals. Visual content engages audiences more effectively.
Use relevant hashtags. Enhance your content’s discoverability.
Be patient. Building trust and credibility takes time.

And lastly, embrace sustainability as a fundamental part of your corporate culture, strategy and communication efforts — that’s how you can best demonstrate your unwavering dedication to a more sustainable, equitable and ethical future.

Amy Romero is Global CMO at Investis Digital (IDX). To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/building-trust-sustainability-narrative

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, NYU Stern Center for Sustainable Business, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

The Incredible Connection Between Consumer Loyalty And Climate Responsibility

24 11 2023

Photo: Getty Images

By Dan Lambe, Forbes Councils Member via Forbes • Reposted: November 24, 2023

In the digital age, the importance of public perception cannot be undervalued. Opinions form fast and travel even faster. Specifically in the corporate sustainability space, consumers can be skeptical of companies that boast their environmental initiatives. Some of this scrutiny likely stems from highly publicized cases of “greenwashing”—in which some brands and businesses were proven to have exaggerated the impact of their sustainability efforts.

On one hand, many private sector leaders are now, thankfully, taking a more responsible and thorough approach to setting their ESG and sustainability goals. But the progress has sometimes gone unseen by the public because of the phenomenon known as “green hushing.” Brands and businesses are choosing to keep quiet about their environmental achievements for fear of a negative spin in the public sphere. What few seem to realize is that the insistence on silence may be doing more harm than good, both for a business’s bottom line and the climate.

New survey data we commissioned from The Harris Poll indicates that 71% of U.S. adults say they’re more loyal to companies that take an active role in protecting the environment. Younger consumers take it a step further, with 68% of people between the ages of 18 and 34 saying they’re willing to pay more money for products from companies that have a strong stance on sustainability and climate change.

Nurturing and safeguarding the environment has only become more important as the effects of climate change become more severe, and clearly, consumers have taken notice. The survey also found that 79% of Americans believe corporations have an obligation to address climate change, and about four in five adults (82%) think companies have a responsibility to reduce and offset their carbon emissions.

This is not the time to downplay the great sustainability work your company may be involved in. It’s time to open a dialogue with your C-suite and make the case to publicly celebrate your environmental achievements. Because here’s the thing: You aren’t alone in your effort to improve the planet. According to a recent report from Climate Impact Partners, about two-thirds (66%) of all Fortune Global 500 companies have significant and clearly defined climate goals. They’re just not talking about it.

If companies involved in sustainability efforts were to talk more openly about the impact they’re helping create, they could influence other corporate leaders to take their engagement to the next level. We need all hands on deck amid this urgent fight against climate change. We can’t afford to have any business, brand, company or leader sidelined because they don’t have visible examples of success. The data shows consumers want to support vocal, conservation-conscious companies—and frankly, the climate needs it.

Of course, some private sector leaders might be hesitant to immediately go out and shout their sustainability efforts from the rooftops. One of the ways you can connect your climate goals with your audience is by bringing consumers along for the ride. When you communicate about your projects, remember it’s not just the final goal people are interested in. They want to know how you plan to get there, what resources you anticipate using and which experts you’ve consulted. Once you begin to make progress in your project, share those updates with your audience. People desire an understanding of the beginning, middle and end. Transparency in your process makes it easier to authentically establish trust with consumers. Sure, they might ask hard questions. They might demand more of you. But isn’t that a good thing? Ultimately, it’s going to take all of us to create a healthier home for future generations.

It’s also important to remember consumers aren’t your sole audience. Sustainability initiatives offer the opportunity to engage your current and prospective employees. Involve your team members in your sustainability efforts. By engaging them in the process, they can feel a sense of ownership in the initiative. They can feel part of a larger goal that is tangible and attainable.

The Harris Poll data also shows that 73% of Americans believe companies that talk about sustainability efforts are seen as leaders in their field. Participating in tree planting, reforestation and other forms of climate action could boost your brand perception and elevate your reputation. It could reap financial rewards for your business as you attract droves of climate-conscious consumers. And it could mean more attention and resources devoted to critical environmental initiatives. It’s a win-win for corporations and this planet we all share.

Dan Lambe is the CEO of the Arbor Day Foundation. He can be reached at dlambe@arborday.org. To see the original post, follow this link: https://www.forbes.com/sites/forbesnonprofitcouncil/2023/11/22/the-incredible-connection-between-consumer-loyalty-and-climate-responsibility/?sh=403c2d1b25e4

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Tags: accountability, Climate Impact Partners, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Harris Poll, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Out with the old: Marketers are reinventing themselves for a more sustainable future

24 11 2023

Marketers are ready and willing to take on the challenge of driving sustainability. Photo: Shutterstock

By Ingrid Kajzer Mitchell, Associate Professor, School of Business, Royal Roads University and Karly Nygaard-Petersen, Doctoral Candidate, School of Business, Royal Roads University via The Conversation • Reposted: November 24, 2023

With an overwhelming 96 per cent of U.S. consumers actively seeking ways to protect the planet, marketers are no longer expected to simply sell products. They are now expected to influence consumer behaviour to advance sustainability goals.

Because of their unique skill sets, marketing professionals are ideally positioned to do this. But as they have begun to embrace this responsibility, they have found themselves caught between traditional marketing practices focused on profit, planned obsolescence and overconsumption, and newer approaches centred on sustainability and social impact.

As a result of these conflicting interests, marketers are experiencing a professional identity crisis. To delve deeper into this issue, we have been conducting interviews with marketing professionals as part of an ongoing research study.

Many organizations are struggling to make significant strides in their sustainability efforts, often falling short of or failing to live up to their promises.

The marketers we interviewed often found themselves in ethical dilemmas, grappling with a clash between traditional profit-driven marketing methods and newer, sustainability-focused approaches.

Many felt a sense of guilt and frustration, questioning whether they were truly making the right decisions. One marketer said: “Am I really doing enough? Am I taking the easiest route, or is this actually a good decision?”

A computer screen on a desk displaying the phrase 'marketing strategy' along with colourful square icons — *Many interviewees experienced guilt and frustration as their evolving professional ideals clashed with traditional methods of marketing. (Shutterstock)*

Despite the ethical challenges, some marketers saw this morally ambiguous territory as transformative — a chance for a kind of rebirth. It allowed them to embrace the idea of choosing the next best option when the ideal was unattainable.

One marketer said this approach was less about whether a decision or action was good or bad from a sustainability perspective, and more about whether it was something they could personally “live with.”

Even if consumers did not radically change their behaviour, small, genuine successes were viewed as valuable. The key was not letting the pursuit of perfection get in the way of recognizing that small, incremental changes add up over time —a sentiment one participant said was “a good step forward.”

Breaking up and breaking out

Unsurprisingly, some marketers felt the old marketing practices — especially the ones that emphasized over-consumption from consumers — violated their personal values. When these practices became too incongruent with their new desired professional self, and the progress toward sustainability felt too slow, some parted ways with their employers.

One marketer, for instance, left to start their own business after feeling powerless to implement more sustainable practices. “I just knew there had to be a better way,” they said. Others left high-profile jobs with well-known multinational brands in an attempt to break free and reinvent themselves professionally.

While leaving the job was a noticeable trend, not everyone was able to do so due to financial or personal constraints. Those who remained in their roles sought alternative ways to make positive impacts. Some took leaves of absence to volunteer for social causes, while others embarked on sustainability-related educational programs.

A woman sitting at a desk and looking out a window with a serious expression on her face. — *Many of the marketers interviewed felt their personal values were being violated as a result of old marketing practices driving hyper-consumption. Photo: Shutterstock*

Those that were unable to leave their positions looked for ways to find greater meaning in their work by taking on sustainability-related projects in their spare time. Tapping into peer support through professional sustainability related communities, like Sustainable Brands, became a vital lifeline.

As one marketer said: “Seeing what everyone is doing, being a part of others making change is very inspiring.” By joining like-minded communities outside their respective organizations, these marketers were able to recharge, get support and find allies in pursuit of new professional identities.

Regardless of whether participants moved on from their positions or found fulfilment on the side, one thing was clear: marketers felt there was a need to break up with the old to embrace new relationships and ways of doing.

A seat at the table

While there was a clear propensity among the marketers in our study to leave jobs or opportunities that were no longer beneficial, they often viewed complex or controversial situations as creative opportunities.

Their optimism was rooted in what respondents called having “a seat at the table.” There was widespread agreement that having a seat at the corporate table allowed them to drive and influence change. The personal agency derived from actively contributing to solutions, even during tough times or when dealing with ethically challenging situations, was meaningful in and of itself.

As one young marketer said: “It is my job to figure out how to do good in the world.” A senior marketer shared a similar sense of personal agency and hope: “We can combine our professional aspirations with something that we also believe in.” Another senior marketer added that “using my powers for good instead of evil, being part of the solution, feels good.”

Despite feelings like not enough was being done in the short term, the marketers remained optimistic about the role of sustainability — even in the most ethically complex industries such as oil and gas, tobacco and gaming. As one respondent said, “in the long run, [your actions] will bring you positive change.”

Even while facing monumental challenges, the marketers in our study exhibited grit and determination as they worked to carve out a place in the business world dedicated to those committed to doing good.

To see the original post, follow this link: https://theconversation.com/out-with-the-old-marketers-are-reinventing-themselves-for-a-more-sustainable-future-209116

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Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Storytelling Empowers Young and Underrepresented Voices in the Climate Movement

22 11 2023

Young people repair clothes at a pop-up event on the sidelines of Climate Week in September. Image: The Climate Group/Flickr

By Amy Brown via Triple Pundit • Reposted: November 22, 2023

limate action and climate justice movements don’t always feel like spaces that recognize or welcome folks from diverse and underrepresented backgrounds. Effective storytelling can create a sense of belonging and inspire real action on the ground. Yet too often the power of storytelling is underestimated.

A rising chorus of young and diverse storytellers want to change that narrative, building on a growing body of evidence that demonstrates storytelling can change human behavior. Connecting personal narratives to the challenge of climate change sparks emotional responses that ease anxiety and promote a sense of agency rather than helplessness, according to a 2023 analysis published in Psychology Today.

That is the experience of a group of young climate activists who distilled their approach to effective storytelling in a panel discussion on storytelling for climate action and climate justice at the Nest Climate Campus event during Climate Week this fall.

As they shared their personal histories and experiences, six distinct themes emerged as the throughlines of an effective narrative to win not just the minds, but also the hearts of those who might feel disenfranchised or disaffected by the climate movement. Done well, storytelling around the climate crisis will:

Invite a sense of belonging
Create an emotional connection
Acknowledge the importance of culture
Actively engage the listener
Embrace each person’s unique identity
Offer solutions and action, not gloom and doom

Nelzon ZePequeno - BlackMenwithGardens - storytelling for climate justice — *Nelson ZêPequéno, a Los-Angeles-based artist and founder of the viral Instagram page @BlackMenWithGardens, at a gardening workshop earlier this year. Image: Nelson ZêPequéno/Instagram*

Invite a sense of belonging

When he became interested in plants more than a decade ago, Nelson ZêPequéno said he was looked down on for working with flowers as a Black male.

“In our culture, it wasn’t encouraged for us to be in nature,” said ZêPequéno, a Los-Angeles-based artist and founder of the viral Instagram page @BlackMenWithGardens. “There is the traumatic history of our forced tutelage in the fields and a lack of access to these natural spaces. As a result, a lot of our culture is based on other things. It was more likely for me growing up to think that I could be an NBA player than a climate justice warrior.”

He began to see more and more people in his community interested in gardening at home and farming, but he saw few visual references to that growing movement. To bring these stories to light he started @BlackMenWithGardens, which today has more than 152,000 followers. @BlackMenWithGardens features reposted stories of Black men and boys connecting with nature and chronicles ZêPequéno’s own journey in the garden — creating a shared online space that allows people traditionally left out of this community feel included in it. Storytellers can do the same by being open about their own stories of entering a space that wasn’t always inclusive and sharing their platforms with others who are navigating similar challenges, helping audiences to see they are not alone.

As ZêPequéno felt more connected to the environment and part of nature through plants, he brings the stories of “other men, boys, fathers, sons, uncles reconnecting with nature and, by doing so, encouraging them to take more stewardship for it,” he said.

sustainable fashion activist Aditi Mayer - storytelling for climate justice — *Sustainable fashion blogger, photojournalist and labor rights activist Aditi Mayer at the Vogue Business Fashion Environment Summit earlier this year. Image: Aditi Mayer /Instagram*

Create an emotional connection

Sustainable fashion blogger, photojournalist and labor rights activist Aditi Mayer was inspired to make fashion her storytelling platform when she learned about the collapse of the Rana Plaza factory building in Bangladesh in 2013 — the garment industry’s worst industrial incident in history in which 1,110 lives were lost and over 2,000 people were injured.

“It got me thinking about the politics of labor in the fashion industry and to look at the ills of our dominant fashion model from a social and environmental perspective,” Mayer said. “As time went on, I got interested in the solutions part of the space. What does the alternative look like? From there, storytelling became a really critical tool.”

Today she is a self-described “multi-hyphenate,” using film, photography, and journalism to examine the fashion industry through a lens of decolonization and sustainability, including as a storytelling fellow for National Geographic. From her immigrant family, she learned the value of “using fewer resources, mending clothes and passing things down,” she said.

“Today I use my platform to challenge the Instagram influencer who never wears the same outfit twice to instead champion that sustainability is a lifestyle you embody,” she said. “I work from an emotional, heart-centered space, which I think is critical because if this work was about shocking statistics to make us act, we would have acted a long time ago.”

A key learning for Mayer as a storyteller was understanding the broader historical and cultural context of the issue she wanted to spotlight: environmental and social harm in the fashion industry. As she learned, an effective story isn’t about having all the answers but in asking the right questions of the right people, like the woman artisans of rural India whose stories and knowledge were often overlooked in the modern fashion industry.

Kiana Kazemi - Intersectional Environmentalist - storytelling for sustainability — *Kiana Kazemi, co-founder and programs director for the climate justice collective Intersectional Environmentalist. Image: Kiana Kazemi/Instagram*

Acknowledge the importance of culture

As a young girl spending her earliest years in her native Iran, Kiana Kazemi, co-founder and programs director for the climate justice collective Intersectional Environmentalist, recalled how her grandparents took her traveling all over the rich and varied landscape of the country, wanting to pass along a connection to the land. Those impressions stayed with her, and part of that legacy is a sense of optimism, she said.

“It was the first time I learned that my relationship to nature was deeply connected to nature, language, spirituality,” Kazemi said. “When I moved to the U.S. when I was 16 and heard about climate justice, all these ideas clicked for me — all these frameworks could exist together and make us better environmentalists and have a deeper impact on this earth.”

Kazemi works with her team at Intersectional Environmentalist to highlight diverse voices by offering training and consulting, creating resources and activations, and deepening awareness about environmental justice and solutions.

Climate storytelling often becomes more persuasive when people can connect on a deeper and more personal level. That could be how family heritage is intimately linked to nature and landscape, as in Kazemi’s case, or, for example, by acknowledging that connection to nature is also about language, spirituality or some other cultural touchstone.

Clara Kitongo - Tree Pittsburgh speaking at climate week - storytelling for climate justice — *Clara Kitongo of Tree Pittsburg on stage at Climate Week 2023. Image: Nelson ZêPequéno/Instagram*

Actively engage the listener

It was the story of Kenyan activist and Nobel Prize winner Wangarĩ Muta Maathai, who founded the tree-planting Green Belt movement, that inspired Clara Kitongo on her path.

Through her work as the tree equity manager of Tree Pittsburgh, Kitongo brings her Ghanaian roots of responsibility for the land to engage communities in creating healthy urban forests, she said. She finds that their active engagement makes all the difference.

While meeting with a group of elderly women about tree planting, Kitongo was struck by how the women’s memories of the trees they enjoyed in childhood “brought the entire project to life for them. I have learned not to assume I have all the solutions but to listen,” she said. It is the same experience when she meets with children and young adults. When she listens to their stories, they are more likely to engage.

Indeed, “the most important predictor of young people talking about their climate feeling was whether they felt listened to,” according to a recent survey of young people’s experience talking about the emotional impacts of climate change.

Similarly, when ZêPequéno gardens with Black men and boys, he encourages them to “get their hands in the dirt,” he said. “I want them to learn organically. With disaffected communities, that is the main way they will learn. Storytelling is a great way to indirectly teach someone something. It becomes a core value received through a narrative.”

Storytelling as an indirect teaching tool is powerful, as these activists found. Bombarding people with frightening facts and big numbers that don’t seem to have bearing on their own lives or communities can make people despondent or cynical. Stories, on the other hand, bring data to life and place it into a context, creating relevance about why it matters.

Embrace each person’s unique identity

For Jothsna Harris, founder of Change Narrative, her work to build capacity for the climate justice movement by using the power of diverse voices came after understanding the threads of her complex past. Her grandmother was a farmer in rural India, and her father immigrated to the United States in 1969 to create new opportunities for his family.

“I was raised knowing my worth and my value, but also that we should assimilate to be successful,” said Harris, who has farmed for the past eight years, following in her grandmother’s footsteps. “It has taken me years to unpack that and really understand we need to stand in our own unique identity.”

Her work today is dedicated to “shifting the narrative to include the perspectives and stories that are typically missing” and “the emotions and identities and vulnerability, as this is what connects us as human,” she said.

Storytelling that invites a sense of belonging for all people, no matter their background, is a vital tool for creating a narrative around climate action and justice that is more democratic and inclusive.

young speakers from climate week 2023 at the javits center — *The group of young leaders strikes a pose at the new rooftop garden atop the Javits Center, where the Nest Climate Campus was hosted at Climate Week 2023. Image: Kiana Kazemi/LinkedIn*

Offer solutions and action, not gloom and doom

Studies show that eco-anxiety — a chronic fear of environmental catastrophe as a result of the impacts of climate change — is on the rise. Sixty-nine percent of Gen Z respondents feel anxious after consuming content about climate change, according to a Pew Research Center study.

Storytelling can help assuage that anxiety. Young people “have been confronted with gloom-and-doom stories on media, of cities being demolished by climate disasters, and that is heartbreaking,” Kazemi said. “But it is important that we talk about the solutions and the frontline communities that are really doing the action-oriented solutions work.”

Harris agreed. “Any culture movement I can think of has always included the power of narrative as the underbelly. When I think of social movements, I think about the stories,” she said.

The key in shifting to a more positive narrative is to tap into every human being’s connection to nature, which will almost always create the space for a deeper understanding of how climate change is threatening that connection.

Party at Climate Week 2023 — *A party on the sidelines of Climate Week 2023 shows there’s more than one way to get people excited about protecting the environment. Image: The Climate Group/Flickr*

Great storytelling passes the mic to climate heroes

Matt Scott, director of storytelling and engagement at the climate solutions nonprofit Project Drawdown, knows the power of story through his role as the producer of “Drawdown’s Neighborhood,” a documentary series that highlights unheralded climate heroes.

“For a long time, I did not connect with the culture of the environment and the stories being told. When you don’t see yourself represented, you don’t enter those spaces,” Scott said. “Today my role is to pass the mic to climate heroes whose stories aren’t heard as often and to elevate climate action in the process.”

Bringing underrepresented groups into the story circle is a critical element in climate justice, Harris said. “These are the people experiencing not only a disproportionate amount of the impacts but who have proximity to and perspective on the issues. Their stories are the essential testimonies needed to understand how to incorporate justice into the solutions we’re seeking.”

To see the original post, follow this link: https://www.triplepundit.com/story/2023/storytelling-climate-justice/789011

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Global Consumer Goods Companies Release First Collective Baseline Study, Putting Increased Transparency at the Forefront of Action To Reduce Food Waste and Loss

21 11 2023

From the Food Waste Coalition of Action • Reposted: November 21, 2023

The Consumer Goods Forum (CGF)’s Food Waste Coalition of Action has today released its first baseline report, presenting operational food surplus and waste aggregated data from sixteen of its retailer and manufacturer members. Based on 2021 data (submitted in mid-2023), compiled by WRAP (Waste & Resources Action Programme), and commissioned by the Coalition, the report marks the next significant step in the industry’s journey to effective reporting and greater transparency on progress.

Marking a clear starting point for reporting progress in coming years, the baseline is part of the Coalition’s ambition to halve food waste in their business by 2030, in alignment with Sustainable Development Goal 12.3 seeking to ensure sustainable consumption and production patterns, by halving per capita food waste at the retail and consumer levels and reducing food losses along production and supply chains. At the launch of the Coalition in 2020, members chose to focus on publicly reporting food waste and loss, aligned with guidance from Champions 12.3. Public reporting increases transparency and accountability, builds consumer trust and sets an example for the wider industry.

The report gathers quantitative data, including the total tonnes of food waste arising in both retailer and manufacturer cohorts, treatment and disposal routes for food waste, and the amount of food redistributed to people or animal feed. Total food waste across the cohort was 2.12 million tonnes, which was made up of nearly 929,000 tonnes of retailer food waste and 1.19 million tonnes coming from the manufacturer side. This data forms the baseline from which to track progress in future years.

Currently, around one-third of all the food produced globally doesn’t get eaten each year – equating to 1.3 billion tonnes. Members of the CGF’s Food Waste Coalition are accelerating efforts to tackle this enormous environmental and social problem – but know that more is needed at every level.

Understanding progress and being transparent is a critical way to reduce food loss and waste. The Food Waste Coalition, led by 21 of the world’s major food companies, is already working to reduce waste by focusing on three priority actions, including measurement and public reporting of food loss data, and collaboration with key stakeholders. Key projects include:

The 10x20x30 Initiative – which targets at least 10 of the world’s largest food retailers and providers to follow the “Target-Measure-Act” approach and engage 20 of their priority suppliers to do the same, thereby halving their food loss and waste by 2030.
Engagement on upstream losses – to address food loss at the post-harvest level, by engaging with their suppliers on collaborative, innovative and effective food loss prevention strategies.
#TooGoodToWaste consumer engagement campaign – launched in September 2023, it is supporting food industry members to raise awareness, inform and educate, and help consumers reduce household food waste.

The report also looks at qualitative data, presenting a summary of the action that businesses are taking to set a food waste reduction target, work with their suppliers, and support their customers to reduce food waste. All data has been collected via the Global Food Loss and Waste Data Capture Sheet, built by WRAP UK and the World Resources Institute (WRI) and in support of the Food Loss and Waste Standard.

“The scale of the problem of food loss and waste to our society, economy and planet can be difficult to comprehend. Having this new Coalition baseline by which to measure our progress on food loss and waste each year will not only help us understand just how much work remains to be done, but will help set a clear pathway forwards for action. Since the creation of our Coalition in 2020, we have learned how to target, measure, and act, and we now feel able to help other manufacturers and retailers across the industry do the same.” said Max Koeune, President and CEO, McCain Foods

“Our Coalition is working hard to create solutions to the food waste and loss challenges in our own operations, and our supply chains both upstream and downstream. We welcome the findings of this report, as it represents our commitment to transparency going forwards. We now want to see solid progression along our pathway towards halving food waste, and with a baseline we can now track our collective achievements. We encourage other companies to lean into the challenges, and join us on our journey.” said Ken Murphy, Group Chief Executive, Tesco

“It is now well known that addressing food loss and waste can have a huge impact, not just in reducing hunger but also in mitigating the effects of climate change.” said Sharon Bligh, Director of Health and Sustainability. “Public reporting on food loss and waste is widely recognised as a trigger for rapid and effective action. This baseline report represents a line in the sand for our Coalition, and we are confident that it will help guide our 2030 roadmap to ensure we fully understand the challenges and opportunities to end food waste.”

“We will not tackle climate change if we don’t fix our broken food system, and not least food waste. Were it a country, food waste would be the third largest emitter of greenhouse gases after China and the USA. So it’s incredibly important that the Food Waste Coalition of Action has set a baseline for the businesses involved, and critical that these major food companies work collaboratively towards its goals. Together we can halve the amount that goes to waste each year and make our food systems a more equitable model that feeds people, not bins.” said Harriet Lamb, CEO WRAP

The full publication is available to view here. For more information, visit www.tcgffoodwaste.com.

Follow this link to see the original post: https://www.csrwire.com/press_releases/788786-global-consumer-goods-companies-release-first-collective-baseline-study

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What designers can do to make textiles healthier for people and the planet

21 11 2023

The glamourous aspect of fashion obscures the health and socio-environmental issues of the textile industry. Photo: Shutterstock

By Vanessa Mardirossian, PhD Candidate and educator in sustainable fashion, Concordia University via The Conversation • Reposted: November 15, 2023

The pollution caused by the textile industry is often discussed, but its impact on health is less emphasized. Nevertheless, the petrochemical compounds used in the manufacturing of our clothes have harmful effects on workers, surrounding communities, and consumers. This issue has a global impact, but its assessment is complex due to our low chronic exposure to a “cocktail” of synthetic substances whose cause-and-effect relationships are difficult to identify.

Moreover, most of these substances prove to be toxic through interaction or degradation, as is the case with azo dyes that are ubiquitous and persistent in the environment.

Through my research in sustainable textile design, I explore how design can contribute to making the textile industry more environmentally friendly, focusing on raising ecological awareness among designers, decision-makers, and the general public.

textile dyes — Dyes made from agri-food waste and inspired by Pantone. (Vanessa Mardirossian), Fourni par l’auteur

Design-led solutions

In the 1960s, designer Victor Papanek was the first to address environmental issues related to industrial product design. Meanwhile, biologist Rachel Carson initiated the emergence of ecological consciousness, shedding light on the profound impact of human activity on the environment.

Then in the 1990s, green chemistry facilitated collaboration between design and biology to develop ecological textiles. Aligned with The Hannover Principles, these textiles aimed to enhance waste management and preserve water purity. Intending to harmonize the interdependence between human activity and the natural world by eliminating toxic inputs at their source, these principles also gave rise to the “Cradle to Cradle” ecodesign philosophy that popularized the concept of circular design in the early 2000s.

An inspired approach from nature

Humanity has always drawn inspiration from nature to create.

However, in the late 20th century, biologist Janine Benyusinvited us to observe the operating mechanisms of living organisms, encouraging a reevaluation of manufacturing processes through biomimicry — a concept that draws inspiration from nature’s designs and processes to create more sustainable technologies.

Could we, for example, produce dyes at room temperature and without toxic molecules? This approach leads to a shared reflection between design, science and engineering. This multidisciplinary vision of design, where ecology, medicine, and politics play a role in the design process to better meet the needs of society, was already advocated by Papanek in 1969.

diagram — *Concept of ‘minimal design,’ by Victor Papanek. (Diagram taken from the work of Victor Papanek)*

Developing ecological literacy

In 1990, educator David Orr introduced the concept of ecoliteracy to address a major gap in traditional education, centered on humans and ignoring their interconnectedness with nature. He advocated for environmental education to develop a sense of belonging to one’s living environment and establish production models that promote the resilience of ecosystems. This concept helps to understand the intricate connections between human activities and ecological systems, to foster a sense of responsibility and informed decision-making.

In the 2000s, fashion design researcher Kate Fletcher supported the development of this ecological literacy to help stakeholders in the industry (designers, consumers and manufacturers) understand the implicit interconnection of industrial and living systems, showing that fashion maintains a vital relationship with nature.

Then, in 2018, the sustainable design researcher Joanna Boehnert emphasized that ecological literacy not only promotes the development of new, more sustainable ways of producing, but also broadens our social, political, and economic vision to systemically address transdisciplinary sustainability challenges.

This is also supported by biologist Emmanuel Delannoy who offers a permaeconomy model, blending permaculture and economics to establish a symbiotic relationship between economic systems and the natural environment, fostering resilience and prompting a reevaluation of our connection with living organisms

A colourful heritage to rediscover

My research-creation proposes a critical reflection on textile dyeing.

This field of investigation leads me to explore colouring beyond its aesthetic to raise ecological, economic and pedagogical questions.

While the glamourous aspect of fashion obscures the health and socio-environmental issues of the textile industry, I direct my thinking toward a more global understanding of dyeing, including its origins, manufacturing methods and interactions with living organisms.

I explore the development of non-toxic dyes by studying, on one hand, literature on natural dyes since prehistory, and, on the other hand, by meeting experts in the field such as scientific historian Dominique Cardon or ecoliterate artisan Rebecca Burgess, founder of the Fibershed concept, which aims to produce biodegradable clothing in a limited geographical space.

I also study field practices, including those of the Textile Laboratory of Atelier Luma, which works at the intersection of ecology, textiles and regional economic development.

And, I keep an eye on design education programs that offer an art-science approach where deep ecology is integrated into the design process.

Symbiosis between nature and the textile industry

Additionally, in the research laboratory where I work, I experiment with the intersection of traditional and prospective dyeing recipes.

Inspired by the concept of industrial ecology (precursor of the circular economy), that values the waste of one industry as resources for another, I use agri-food waste as a colouring source, combined with the use of pigment-producing bacteria to expand the colour palette.

Thus, tannins from various waste materials can be used in dye recipes.

bits of coloured fabric — *Fabric dyed from waste and bacteria. (Vanessa Mardirossian), Fourni par l’auteur*

But colouring a textile is only the visible part of the iceberg, as fibre preparation takes place upstream to ensure the colour’s resistance to light and washing, known as “mordanting.” Whether the fibre is animal or vegetable, different mordants will be used.

This expertise acquired iteratively between theory, prototyping, and results analysis contributes to gaining “textile ecoliteracy.” Coupled with a knowledge of biology, this allows for understanding the deleterious interactions between the material and living worlds.

Ultimately, the synthesis of ecoliteracy and biomimicry concepts has led me to reflect on a macro-vision of the fashion industry ecosystem, and to consider the concept of “textile ecoliteracy” as a means to deploy a network of intersectoral collaborations between design, health, education, and industry.

My research aims to show that textile materiality must harmonize symbiotically with natural ecosystems so that both parties benefit from their interaction.

In conclusion, the textile industry’s environmental and health impacts necessitate urgent attention and innovative solutions. This article has delved into the historical context, explored interdisciplinary approaches, and proposed the concept of “textile ecoliteracy” as a collaborative means to address these challenges.

By focusing on sustainable design, education, and the utilization of innovative practices, designers can play a pivotal role in reshaping the industry. The synthesis of ecological awareness and biomimicry principles highlights the potential for a harmonious coexistence between textile materiality and natural ecosystems.

As we move forward, fostering a symbiotic relationship between the textile industry and the environment is not just a choice but a collective responsibility — one that promises a healthier future for both people and the planet.

To see the original post and related reporting, follow this link: https://theconversation.com/what-designers-can-do-to-make-textiles-healthier-for-people-and-the-planet-216304

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Tags: accountability, corporate social responsibility, ESG, Green Fashion, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands, Textile pollution
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Consumers say their environmental concerns are increasing due to extreme weather

14 11 2023

A woman looks at the destruction in Haulover, a community 41 km south of Bilwi, in the Northern Caribbean Autonomous Region, Nicaragua, on November 28, 2020. The World Meteorological Organization tallied nearly 12,000 extreme weather, climate and water-related events over the past half-century that caused economic damage of $4.3 trillion. Photo by Inti OCON / AFP

Bain & Company finds more than 60% of businesses are off track to meet their sustainability goals, an increasingly conscious base of consumers and employees may be able to help. From Bain & Company via PR Newswire • Reposted: November 14, 2023

As extreme weather prompts growing environmental concern across the globe, new research from Bain & Company shows more than 60% of businesses are off track to meet their current sustainability goals. Progress will require a combination of technology, policy, and behavior change. An increasingly conscious base of consumers and employees may prove helpful.

Bain & Company published today a major new study exploring the top sustainability concerns for business leaders, their customers, and their employees.

“We have spoken to thousands of executives about their sustainability ambitions and the associated trade-offs,” said François Faelli, partner and head of the global Sustainability practice at Bain & Company. “They know they have a key role to play in the energy and resources transition. Many view this as their legacy, but they are worried about the growing gap between their progress and public commitments. While it will not be easy, there are three levers CEOs must prioritize: policy, technology, and behavior. Bain’s new research offers some promising news for businesses—their customers and employees are adaptable and eager to contribute along the path to progress.”

To get a broad sense of environmental concerns around the world, Bain surveyed 23,000 consumers. The results underscore the growing urgency of sustainability topics. Some 64% of people reported high levels of concern about sustainability. Most said their worries have intensified over the past two years and that their concern was first prompted by extreme weather.

Surprising truths about consumers

Bain’s research reveals several surprising truths about consumers, dispelling some common misperceptions. Among them, the ideas that consumers won’t pay more for sustainable products and that consumer behavior is fixed.

Baby boomers are often just as concerned as Gen Z. Many companies have long viewed younger consumers as more focused on sustainability than their older counterparts, but the reality is not as clear-cut. For example, 72% of Gen Z consumers and 68% of boomers globally are very or extremely concerned about the environment, but in countries as diverse as India, France, and Japan, boomers are more concerned.
Both liberals and conservatives are concerned about the environment. In the US, 96% of consumers agree that the climate is changing. Among those concerned about the environment in the US, 85% of self-described liberal voters are very or extremely concerned about climate change, compared with 39% of conservative voters. Yet conservatives say they worry more about specific issues such as water, biodiversity loss, and air pollution.
Consumers are willing to pay a premium for sustainable products, 12% on average, but they are still priced too high. As concerns grow, consumers are looking to make environmentally sound choices and are willing to pay more for sustainable products. Yet, they often run into barriers. For example, consumers in the US are willing to pay an average premium of 11% for products with a minimized environmental impact. However, 28% is the average premium for products marketed as sustainable in the US. Consumers in fast growing markets, where Bain found environmental concerns to be highest—such as India, Indonesia, Brazil, and China—are willing to pay an even greater premium, between 15 and 20%. Consumers in the UK, Italy, Germany, and France, on the other hand, are only willing to pay between 8 and 10% extra.
Consumer behavior can change more quickly than many companies anticipate, with external factors such as government regulation heavily influencing the market. Chinabegan offering financial incentives on electric vehicles in 2009; now 19% of Chinese consumers report driving an electric car, compared with 8% of consumers globally. In England, the use of single-use supermarket plastic bags has fallen 98% since the government began requiring retailers to charge for them in 2015.
There is a disconnect between what consumers want and what most companies sell. Worldwide, 48% of consumers consider how products are used when thinking about sustainability. These consumers are more concerned about how a product can be reused, its durability, and how it will minimize waste. In contrast, most companies sell sustainable goods based on factors such as how they are made, their natural ingredients, and the farming practices deployed. These factors cause many consumers to conflate “sustainable” with “premium.” One result of this disconnect: Nearly half of all developed-market consumers believe that living sustainably is too expensive. By comparison, roughly 35% of consumers in fast-growing markets believe this.
Consumers struggle to identify sustainable products and don’t trust corporations to make them. In Bain’s survey, 50% of consumers said sustainability is one of their top four key purchase criteria when shopping. Yet they may be making decisions based on misconceptions. When asked to determine which of two given products generated higher carbon emissions, consumers were wrong or didn’t know about 75% of the time. Consumers say they rely most on labels and certifications to identify sustainable products, yet most were unable to accurately describe the meaning behind common sustainability logos, such as organic production or Fairtrade. A lack of trust in corporations compounds the issue. Bain found only 28% of consumers trust large corporations to create genuinely sustainable products, compared to 45% who trust small, independent businesses.

Four critical areas of focus for companies

The momentum behind sustainability and dynamic shifts in consumer behavior have profound implications for any company. Bain sees four critical areas of focus.

Devise a future-proof and flexible strategy. Few companies plan beyond the typical 3-year strategic planning window, and even those that do look out 5 to 10 years tend to focus on expectations for technology adoption. These plans fail to fully consider two other factors that move just as rapidly and with as big an impact: regulations and consumer behavior.
Acknowledge a fragmented consumer base. Companies need to deaverage consumers and innovate products and design propositions that appeal to different segments— local markets, consumers with different definitions of sustainability, and consumers with a range of purchasing motivations.
Test and learn to determine what works—and repeat. In such a fluid environment, companies can lean aggressively on marketing experimentation, using digital tools to quickly test the sustainability messages that resonate with different segments and adapt accordingly. It’s a way to help consumers gain enough clarity to make decisions that are consistent with their values.
Get out in front of regulations. As we’ve seen throughout the world, government policy inevitably becomes a huge contributor to changing consumer behavior. Across all industries, companies need to be at the forefront of helping to shape the regulations affecting their business. A company’s ability to anticipate policy shifts and build future-proof portfolios will help determine whether it can outpace competitors.

Upskilling employees to rise to the challenge

Bain found 75% of business leaders believe they have not embedded sustainability well into their business. The instinct of many CEOs is to prioritize external hiring to address all skill gaps, including in sustainability. Bain advocates for addressing sustainability’s challenges through a combination of smart upskilling and cultivating a learning mindset.

A new Bain survey of 4,700 people found 63% felt different skills and behaviors would be required for their company to execute on its ESG ambition or strategy. Yet only 45% of nonmanagers said their employer offers the reskilling and upskilling opportunities that would enable internal mobility.

Despite almost every CEO saying they have a talent problem, few companies have defined what it means to be a great employer. In Bain’s recent survey, 44% of respondents said it is easier to find a better opportunity outside of their company than within it.

Bain is leading by example on this cause. The firm has committed to cultivating a growth mindset in its team, partnering with 12 world-class universities—including MIT, HEC Paris, and Melbourne Business School—to upskill its employees on ESG. To date, its consultants have completed over 17,000 hours of ESG training through the program.

To see the original post, follow this link: https://finance.yahoo.com/news/consumers-environmental-concerns-increasing-due-050100182.html

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Finding the right message for taking the sustainability movement mainstream

10 11 2023

Image via Shutterstock/NMStudio789

By James Ball from Greenbiz.com • Reposted: November 10, 2023

Advertising helped form the culture of consumerism that fueled the Industrial Revolution and our modern dependence on fossil fuels. Many of the same advertising strategies are being used to sell products and services that reduce that dependence. As the sustainability movement matures from the anti-establishment ethos of its origins in the 1960s and ’70s to the more mainstream movement of today, the message and values behind what it means to be sustainable are also evolving.

At VERGE 23 last month, I spoke with Simon White, an altruistic advertising professional, about the techniques advertisers use to motivate buyers and what today’s sustainability movement can learn from Madison Avenue. According to White, “Advertising has largely escaped scrutiny for its role in fueling both the environmental crisis and increasing levels of depression, despite research showing it’s done both.”

Asking people to save the planet isn’t the right request

The messages used to promote the sustainability movement often center around saving the planet, preserving biodiversity or averting mass extinctions. Then there’s doom and gloom: There is no Planet B, the earth is on fire, this is our last chance to mitigate climate change.

The problem with these messages, White observed, is that humans are not easily motivated to take action against long-term threats and slow-developing catastrophes. Our psychology has developed over millennia as hunter-gatherers to flee or fight immediate threats, like a snake in the grass or a tiger in the bush. Unfortunately, climate change is just not the type of problem humans are wired to respond to.

Public perceptions of sustainable solutions are also detrimental to the environmental cause. Living sustainably is seen as a tradeoff for most consumers, requiring us to sacrifice comfort and convenience for the benefit of nature. Hanging your clothes on a clothesline and eating less meat are not behaviors that will get the general public excited about a sustainable lifestyle.

The sustainability movement has not been great at advertising, and advertising is a key strategy used by the companies fighting to keep the unsustainable status quo.

Moving from extrinsic to intrinsic motivation

“Advertising’s job is to make you desire things and therefore destroy contentment in the current moment,” White told me.

The basic proposition that buying something will make you happier is an example of extrinsic motivation. Extrinsic motivation derives from external factors, such as having more money, goods or status in other people’s eyes; it is the primary motivator that advertisers have used for decades to fuel the overconsumption that has made our society unsustainable.

Research by Professor Andrew Oswald of Warwick University has shown that increased exposure to this type of advertising leads to greater unhappiness. This is in part because long-term happiness is gained by intrinsic motivations, such as doing the right thing and helping others.

White discovered this in his own life after developing insomnia. He started meditating to help him sleep. In studying Buddhism and meditation, White began to ask himself basic questions, such as “How do I want to live my life?”

As he questioned the things that he intrinsically valued, beyond what society had told him to value, he found a conflict between his professional advertising work and his new personal ethics.

“Advertising in itself isn’t evil. It can be a force for good or bad,” White said. “So I now want to use the skills I’ve learned to help purpose-driven companies and companies working in sustainability to get their message out there. To use these dark arts to make the world a better place.”

White is launching a marketing agency, Reluctant Martian, to help companies, especially startups, turn sustainability into a competitive advantage. He’s also working on a book that examines the harmful effects of advertising on people and the environment.

A message for mainstream sustainability

There were two takeaways for me from meeting White:

If our culture shifted from being extrinsically motivated to more intrinsically motivated, we would be happier and more sustainable.
People are habituated to ads that appeal to extrinsic motivations. While we are in the middle of the sustainability market transformation, companies need to continue to use this strategy to motivate buyers.

Research by Ipsos shows how highly effective ads can appeal both to a brand’s benefits and the values of sustainability. By focusing on tangible and credible consumer benefits, companies gain trust and loyalty.

Tom’s Shoes is a great example of a company that doesn’t just ask you to buy their shoes; it asks you to help solve a problem. Tom’s Shoes is effectively linking its brand value to actual social value and in doing so driving a greater customer value from purchasing its product.

Sustainable companies can no longer advertise that happiness is just out of reach until you buy a new phone or a flashier car or trendier sneakers. That kind of purchased satisfaction is inherently transitory; it’s the opposite of sustainable.

Sustainability is not sacrifice; it is the path to true happiness.

To see the original post, follow this link: https://www.greenbiz.com/article/finding-right-message-taking-sustainability-movement-mainstream

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, green marketing, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Student Demand for Low-Impact Meals Increases After Climate-Labeled College Menus

6 11 2023

Image: CHARTWELLS HIGHER EDUCTATION

By Chartwells Higher Education via Sustainable Brands • Reposted: November 6, 2023

Results from first year of Chartwells Higher Education’s exclusive partnership with HowGood show positive correlations between climate labels on menus and sustainable choices.

Last year, millions of US students started seeing the social and environmental impacts of the food they ate through an exclusive climate labeling partnership between Chartwells Higher Education — foodservice provider to over 300 colleges and universities across the US — and sustainability intelligence company HowGood, which has the world’s largest database on ingredient and product sustainability. Today, the companies shared initial results from their partnership — revealing a significant increase in student demand for lower-impact meals after HowGood’s climate labels were introduced.

In May 2022, Chartwells partnered with HowGood to measure the overall sustainability of its menu items based on eight core social and environmental impact metrics: greenhouse gas (GHG) emissions, processing, water usage, soil health, land use, working conditions, biodiversity and animal welfare. After Chartwells added climate-impact labels to dining hall menus, student demand for low-impact recipes increased — with Chartwells recording a 37 percent rise in the production of recipes that received positive ratings from HowGood. Furthermore, in Fall 2022, less than a third of Chartwells’ recipes menus nationwide received positive HowGood scores. One year later, nearly half (44 percent) of recipes on Chartwells’ partner school menus nationwide received a positive rating. Chartwells plans to increase this number moving forward by integrating GHG emissions-reducing potential as a criterion in recipe development and innovation along with nutrition, taste and cost.

Image credit: Chartwells

“We were thrilled to be the first and only foodservice provider to introduce holistic climate labels to university dining halls,” said Monalisa Prasad, Director of Sustainability at Chartwells Higher Education. “The feedback so far from students and campus partners has been overwhelmingly positive. We’re continuing to improve the program by offering a broader range of low-impact menu options and making positive impacts easier to understand through measures like simplified iconography.”

Conscientious eaters are increasingly cognizant of the climate impact of food items — recent research suggests that consumers are willing to pay more for food products that exhibit a lower carbon footprint; and in restaurants, carefully reframing menu language can successfully nudge diners toward more climate-friendly food options. Forward-thinking foodies have embraced carbon-labeled food items from brands including Oatly, Quorn and Strong Roots; and on menus at Chipotle,Just Salad and Hilton hotels.

Chartwells’ culinary team is using Latis, HowGood’s proprietary digital platform, to continually improve recipes based on their GHG emissions-reducing potential. The platform allows Chartwells to test and innovate menu items with comprehensive, ingredient-level insights across all eight impact metrics for over 33,000 ingredients. These measures will help Chartwells and its partner campuses advance their sustainability goals by increasing the inclusion of more sustainable meals and helping guests make more informed choices.

“When Chartwells brought us the idea of adding climate labels to the dining halls, we were immediately sold; it was the exact kind of innovative and sustainably focused thinking we’ve come to expect from Chartwells,” said Julie Bannister, Assistant Vice Chancellor of Auxiliary Services at The University of Pittsburgh. “Our university’s goal is to be carbon neutral by 2037, and we’re thankful to have a food service partner that not only helps us achieve that goal but empowers our students to make their own decisions that are better for the planet.”

“We have been continually inspired by our partnership with Chartwells,” said Christina Lampert, Director of Growth and Innovation at HowGood — a leader in helping brands carbon-label their products. “Their commitment to sustainability can be seen not only in their transparent communications with students, but also in their carbon reduction- focused recipe development work. It has been a joy to enable them with the tools they need to do both, and we are so pleased to see such clear results one year into our partnership.”

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/student-demand-low-impact-meals-increases-climate-labeled-menus

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Tags: accountability, Chartwell Higher Education, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, HowGood scores, responsible brands, sustainability, sustainable branding
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Redefining the Consumer Experience with SmartLabels

27 10 2023

Image: Avery Dennison

By Max Winograd, VP, Digital Solutions, Avery Dennison from Sustainable Brands • Reposted: October 27, 2023

With engagement levels still low, SmartLabels are something of a sleeping giant. So, where’s the tipping point to awaken their full potential? How do we really drive that desire to engage?

The billions of US products equipped with the Consumer Brands Association’s (CBA) SmartLabel represent a huge opportunity for brands. With customers caring increasingly about the stories behind their purchases, many should be eager to scan a QR code (or search the web) to learn about them.

But consumer involvement, while encouraging, still has a way to go. With engagement levels still low, SmartLabels are something of a sleeping giant. So, where’s the tipping point to awaken their full potential? How do we really drive that desire to engage?

Bridging the engagement gap

SmartLabels have always had the potential to change the way customers interact with products. We know there’s a demand for transparency, and they inhabit valuable real estate on packaging. So, it seems that the answer to making this more attractive lies in the consumer experience.

At the core of the issue is the static nature of interacting with SmartLabels. Scan a product today, and you’ll mostly see basic information such as nutrition facts and ingredients. You won’t necessarily get the opportunity to actually engage with the brand to understand things such as the history of the product or the origin story of the company.

There’s a lack of connected data that tells the story of how a product came to be — from the original materials to the manufacturing plant, and the journey to the retail shelf.

A new partnership with SmartLabel

With over 100,000 product lines across the US adorned with its technology, SmartLabel has now partnered with Avery Dennison’s atma.io connected product cloud — making it only one of three platforms that are part of CBA’s preferred partner network (PPN). The consumer experience with SmartLabels now has the potential to be turbocharged.

atma.io aims to turn SmartLabels into compelling consumer experiences, adding a host of exciting use cases. Brands can upload their product information onto the atma.io platform, choose from a gallery of SmartLabel templates, and even set rules for dynamic consumer experiences based on unique QR codes.

Instead of viewing a product line’s basic information, customers can see the individual story of the exact, unique item they’re holding. They’ll be able to connect with loyalty programs, automatically reorder, see related items, and check out gifting options — unlocking endless possibilities for brand and product interactions. Two customer questions can then be answered: “What’s the story behind this product?” and “What’s in it for me?”

Writing the story, not reporting it

The atma.io platform is also looking upstream to increase supply chain transparency. The digital triggers themselves can be scanned, read and interacted with; and then that will create a new tracking event in the supply chain. This not only contributes to a detailed sustainability story but also enhances inventory accuracy, reducing chargebacks between retailers and brands.

Rather than just a storytelling device, the SmartLabel becomes a part of the supply chain itself; brands can utilize it as an enabler for sustainable practices. Imagine first scanning a product to find out how it was made, then scanning it again later on to see information on end-of-life recycling and how you can pass it on responsibly.

The atma.io platform also surfaces extremely useful primary data that brands would normally miss out on — including valuable information on how customers interact with products, across geographies and product categories.

Image credit: Avery Dennison

A smart way to comply

While the immediate advantages are in broadening engagement, the partnership also sets the stage for future compliance opportunities. With upcoming regulations such as Europe’s Packaging and Packaging Waste Directive, SmartLabels could evolve to become an even more useful tool for compliance and sustainability.

As similar regulations make their way across the Atlantic, brands will find themselves under increasing pressure to adhere to new compliance standards. The SmartLabel, once a mere window into basic product information, could become a critical asset in this process. Through integrating connected supply chain data with tracking and reporting, brands can proactively address compliance issues, from waste reduction to ethical sourcing — positioning them ahead of the regulatory curve and enhancing their reputation for transparency and responsibility.

“The partnership between atma.io by Avery Dennison and SmartLabel is more than just a technological collaboration; it’s a vision for the future of consumer engagement, compliance and personalization. Once you get the QR code on the product, you can then turn that into an infinite number of possibilities for brands to unlock additional use cases through connected packaging,” says Rishi Banerjee, Senior Director of SmartLabel at Consumer Brands Association.

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/redefining-consumer-experience-smartlabels

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Tags: accountability, Avery Dennison, Consumer Brands Association, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Packaging and Packaging Waste Directive, responsible brands, SmartLabels, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding

Sustainability in Advertising:How Marketers Can Waste Less and Grow More

26 10 2023

Image: Advertising Week

By Myles Peacock from Sustainable Brands • Reposted: October 26, 2023

It’s all about increasing the efficiency of your assets — rather than just adding more stuff to a stack to feel like you are keeping pace. When it comes to both effectiveness and sustainability, less is more.

Sustainability in marketing is, almost ironically, an evergreen topic. Every brand, agency and marketer should be thinking about the environment and how our industry is impacting it.

Recent Kantar research shows that 90 percent of marketers believe sustainability agendas must be more ambitious, with a further 94 percent saying marketers have to act more bravely and experiment to drive transformative change.

But thinking is one thing. Doing is another thing entirely.

Roughly 40 percent of marketers are still taking their first steps towards developing more sustainable marketing practices. And you can understand why — these are challenging times; it’s easy for sustainability to slip down the priority list.

The media landscape has fragmented — audiences now exist across its many glimmering shards, dynamically shifting from channel to channel throughout the day. Having more channels means there are more chances to deliver your message, but it also increases the risk of your message completely missing its intended target

But the reality remains that marketers wholeheartedly want to be as effective as possible. They want to achieve zero-waste budgets. But zero waste must refer to environmental waste as much as financial waste.

The bottom line

When ads fail to land, they don’t just waste the budget. Unnoticed digital ads saturate the landscape — consuming valuable resources, draining server capacity and increasing the size of a business’s carbon footprint.

The CO2 emissions from online advertising alone account for a whopping 10 percent of the internet’s total infrastructure emissions. Multiply that waste by factoring in all the communications a typical business creates beyond advertising, and it’s clear that a major problem exists.

But the effects of the media landscape’s growing complexity are twofold. First, you have a proliferation of channels; then, you have the explosion of marketing tools and solutions that help brands reach consumers across the rapidly evolving ecosystem.

Now, brand marketers are grappling with the challenge of navigating an array of disparate systems. On average, they juggle six different platforms — most of which lack integration and compatibility. This fragmentation not only impedes efficiency but also hampers effective waste-management strategies. And as more platforms emerge, levels of waste are only set to increase.

More complexity. More competition. More pressure. More emissions. More wastage.

So, how can brands effectively become more sustainable while keeping pace with an evolving media landscape?

Out of sight, but not out of mind

Every year, the digital waste of unseen ads emit as much carbon as the global aviation industry. This huge number shows how important it is to fix the damage that digital advertising is doing to the environment. With this knowledge, brands and marketers have a responsibility to tackle this problem head on.

But to close the gap, our industry needs to proactively work together.

Tech is changing fast; and concurrently, environmental concerns are growing. Developing collective, sustainable advertising practices is the only way to significantly curtail the impact of digital advertising on the environment.

Businesses have multiple partners, stakeholders, agencies, markets, departments. They can evolve or be acquired. The list goes on and on. And consequently, many organizations are over-encumbered with systems and processes that are essentially duplicates.

It’s all about increasing the efficiency of the assets you have — rather than just adding more stuff to a stack to feel like you are keeping pace. When it comes to both effectiveness and sustainability, less is more.

In fact, our recent commissioned study conducted by Forrester Consulting revealed that effective implementation of this approach within a company’s marketing ecosystem leads to positive outcomes. When tools are used to their maximum efficiency, 59 percent of respondents reported increased company revenue; and 48 percent reported a more efficient use of their time.

Brands should focus on holistic strategies that bring together content, ads and audiences seamlessly. Establishing connections between these elements serves to minimize wastage and enhance overall campaign effectiveness. This strategic approach not only benefits the environment but also streamlines efforts and amplifies returns on investment for marketers.

Sustainability may feel like an evergreen topic. But we are up against the clock. The planet depends on the choices businesses make together — which is why brands must ensure their technology makes marketing work for them, their consumers and the environment.

Myles Peacock is Worldwide CEO at Investis Digital. To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/how-marketers-waste-less-grow-more

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Kantar, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Why Gen Z Is Driving Food and Beverage Brands to Become More Sustainable

25 10 2023

Image: Food Industry Executive

By Barak Bar-Cohen, Founder and CEO of Sojo Industries via Food Industry Executive • Reposted: October 25, 2023

What are key motivators behind Gen Z’s support for more sustainable food and beverage products?

Gen Z is facing challenges that generations before them did not.

As Gen Z consumers enter the workforce, they’re encountering very different circumstances than their parents and grandparents. For example, they grew up seeing the impact of climate change and a global pandemic firsthand, and for many, this led to sustainability becoming a greater priority. In 2023, Gen Z consumers face new challenges such as inflation, higher costs of living, and the impact of social media, all of which are driving this generation to make value-driven spending decisions.

It’s not surprising then that Gen Z is using their newfound purchasing power in an environmentally and financially responsible fashion. With the world they’re growing up in, every purchase counts towards preserving the planet and saving dollars toward the basic living necessities.

And what’s even better: brands and manufacturers are paying attention. Today, there are more options for Gen Z consumers to “shop their values” and ways for consumers to call out brands that are not prioritizing sustainability. This can further motivate Gen Z to demand food and beverage companies to adopt more climate-responsible practices in their supply chains.

How do food and beverage manufacturing processes impact the environment?

The manufacturing stage of the food and beverage supply chain can have profound impacts on the environment. For example, the reliance on nonrenewable energy sources to power heating, cooling, refrigeration, and other energy-intensive activities can increase carbon emissions.

Likewise, this step of the process often generates a significant amount of waste from packaging materials to processing byproducts. Excessive packaging, especially with non-recyclable or non-biodegradable materials, can further exacerbate this issue, leading to increased waste generation and pollution.

Without adequate disposal, food and beverage manufacturers may turn to landfilling or incineration — processes with harmful environmental effects. In fact, landfills often produce a natural byproduct that is composed of methane and carbon dioxide, both potent greenhouse gasses (GHG) that accelerate the climate crisis.

Considering the ways manufacturing impacts the environment, it’s important that food and beverage brands make climate-responsible decisions to reduce their environmental footprint.

What are some potential barriers that food and beverage companies face to achieve sustainability?

Large food and beverage companies mostly control their own supply chains, from ingredient sourcing to manufacturing to warehousing to distribution. However, most of the emerging brands do not.

This makes it difficult for the majority of newer brands to influence something they do not control. For example, if manufacturers rely on fossil fuels to power their warehouses, this will contribute to a product’s overall carbon footprint, and brands have little say in these decisions. So, they’ll face challenges in adopting sustainable practices throughout the supply chain.

On the other hand, for larger brands that manage their own supply chains, sustainable practices are still not widely accepted due to legacy systems and financial return models that value a healthy ROI during challenging economic times, regardless of the environmental costs. But if brands fail to invest in the future, they’ll miss out on impressing a growing customer base: Gen Z and Gen Alpha customers who expect brands to offer sustainable food and beverage products.

A part of the challenges for both newer and legacy brands is the fact that food and beverage supply chains are highly fragmented. Brands work with multiple suppliers, manufacturers, and distributors from production to retail. This makes it difficult to track and trace the environmental impact of products while assessing for quality control and food safety. Often, food and beverage products travel significant distances, making it even more challenging for brands to lower their environmental footprint.

What strategies can food and beverage manufacturers employ to increase sustainable practices in their operations?

More than a strategy, companies must make an actionable commitment to climate-responsible decisions in every aspect of their business.

When the choice is between non-recyclable plastic or packaging made from 100% recycled materials, businesses can choose to walk the talk by utilizing eco-friendly materials and finding savings elsewhere to justify the decision. Companies can also choose to work with vendors that are actively prioritizing sustainability in their operations, which can help the company reduce its carbon footprint. For food and beverage companies across manufacturing and the supply chain, sustainability must be put into practice across all processes, from ingredient sourcing to packaging to distribution, if companies truly want to be seen as green brands.

Company leaders can also put this into practice by showcasing their own sustainable choices and supporting employees to choose more sustainable options in their everyday lives. For example, companies could encourage employees to practice green lifestyles by installing free charging stations at the office for electric vehicles or providing recycling bins and a pickup program. People often view these as extra steps or more expensive options, but it can make a big difference when everyone does their part.

How can technology assist in improving sustainability efforts in food and beverage manufacturing?

Technology is one of the most prominent drivers for businesses that want to improve their sustainability efforts. In many scenarios, automation and robotics reduce the reliance on people, which can save energy, but also significant resources and waste produced by humans. Software platforms can help businesses be more sustainable by optimizing routes and analyzing weather patterns to better plan and implement more efficient manufacturing practices, which reduces wasted resources.

Real-time, data-driven insights produced by artificial intelligence are also redefining sustainability efforts for food and beverage decision-makers. This valuable data is not only helping businesses improve their own operations but also benefiting consumers by enabling businesses to forecast projections and meet the environmental expectations of buyers.

How could the changing preferences of Gen Z impact future practices and innovations within the food and beverage industry?

The preferences of younger generations, including Gen Z, are permeating the food and beverage industry. With their increased focus on healthy options, products accommodating probiotic, plant-based, and organic preferences have already made their way into food and drink innovations.

Drink categories, including non-alcoholic beverages, have emerged as major areas of growth in 2023 driven by Gen Z being the most sober generation.

Younger generations are certainly influencing the market, but as a result, we even see older consumers changing their buying habits – and sustainability is one of these areas. While Gen Z is adopting sustainable behaviors more than any other age group, their actions are driving other age groups like Millennials to make more sustainable decisions. Whether it is a decision rooted in health, sustainability, price, or quality, consumers are influencing food and beverage brands to make innovative changes. By accommodating these preferences, companies can not only gain the trust of younger generations but continue to improve their bottom lines in close alignment with the market.

Barak Bar-Cohen is the Founder and CEO of Sojo Industries, an industrial automation company that utilizes robotics, mobility, and modularity to deliver efficient packaging and assembly solutions to the food and beverage industry. To see the original post, follow this link: https://foodindustryexecutive.com/2023/10/why-gen-z-is-driving-food-and-beverage-brands-to-become-more-sustainable/

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, Gen Alpha, Gen Z, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

How Companies Can Achieve Their Sustainability Targets

20 10 2023

Photo: Getty

By Sam Darwish via Forbes • Reposted: October 20, 2022

Did you know that the mobile industry became one of the first sectors in the world to commit to the UN Sustainable Development Goals in 2016, according to GSMA? These 17 goals call for significant action to reduce carbon emissions and promote developments within the renewable energy sector.

Since then, the industry has demonstrated its commitment, as data traffic increases of 31% in 2022 were met with associated electricity increases of just 5% and carbon emissions increases of 2%.

To help keep emissions at bay, in October 2022, my company, IHS Towers, announced our Carbon Reduction Roadmap with the aim to reduce the scope 1 and scope 2 kilowatt-hour (kWh) emissions intensity of our tower portfolio. Our Project Green is the next significant step in that roadmap. It focuses on how we are increasing renewable energy sources on our African sites between now and the end of 2024. Our aim is dual—to reduce our reliance on diesel and generate long-term cost savings.

Here’s what I’ve learned from doing this work so far.

1. Start by setting a target.

If companies are to deliver on their commitments to reduce emissions, they must embrace renewable energy and the sector’s technological developments, and do so with a target in mind. That’s why we set ourselves the aim of reducing emissions by approximately 50% by 2030, and in the immediate term are integrating solar panel and battery storage solutions at off-grid locations, and where possible, connecting to the grid.

Setting targets is a powerful way of holding a business to account. It helps ensure they act on climate change and demonstrate their commitment to implementing strategies that mitigate its effects. That said, while having a target sends a strong, motivating message, it exposes your business to more scrutiny.

So before setting a target, every business leader should ask themselves why? Why are you creating another standard, a benchmark that holds you to account?

Firstly, there are the obvious stakeholder considerations—investors, customers, government programs and even employees. Secondly, carbon reduction can offer long-term capital expenditure savings and new growth opportunities.

Once you have determined that setting a target is the right course of action, you need to refine it against the macro setting. What are the national laws and global requirements applicable to your business? What are your peers doing and how do you benchmark?

My advice is to first consider the why, second the what and third the how. How are you going to set a target that meets your business needs and delivers progress? For the latter, third-party support is essential.

2. Lean on the experts.

Regardless of the sector you operate in, setting an emissions reduction target is always going to be complex. It’s likely going to take longer than anticipated, be more data intensive than expected and require the support of external specialists.

For example, on our emissions journey, we engaged an external environmental consultant to determine the specific level of carbon emissions reduction that was feasible for our business, and the markets in which we operate. We operate in a fast-moving, high-growth sector, and because of our organic growth, this third party helped us determine that an intensity-based target was more appropriate than an absolute emissions target.

Targets need to be realistic. They must both consider business growth and demonstrate a real commitment to carbon reduction.

Working with a climate consultant or other specialist is key; they provide the critical skills to help you navigate the balance between ambition and delivery.

3. Don’t underestimate the importance of internal stakeholders.

In setting our own target, the task’s enormity became quickly clear. Obtaining accurate data is essential. It’s a huge undertaking for any business, particularly large companies that operate across many markets, like mine. It also depends on the data available, e.g., GHG emissions, its quality, and having the right resources. Central to this is buy-in from your leadership team.

Your leadership team needs to be engaged from the get-go—the point at which you start quantifying emissions. Work with your external partner to help educate your leadership team on climate change, the risks and opportunities and principles of effective carbon management. Help them recognize both the environmental and business benefits and champion it as a pillar of your business and culture.

Achieving carbon reduction will require ongoing investment and so their support is critical. Reducing your carbon footprint is a journey that all leaders need to be carried along on. So, in addition to gaining their initial buy-in, communicating progress (however incremental) is vital.

At my company, we are communicating that progress to internal and external stakeholders; for example, we report on things like solar power solutions, generator run-times and decarbonizing our footprint. Yet simultaneously, we have been transparent in the capital expenditure required to hit our goals. By gaining support from our leadership team at the start of our carbon reduction journey, and communicating our progress so far, that additional capex becomes a recognized essential.

In terms of our financials, we expect significant annual savings by 2025 as a direct result of capex deployed. So, while setting this target was a complex, operationally intensive task, the benefits are clear.

4. Remember, climate action enables innovation.

With the roll out of artificial intelligence, virtual reality, IoT and blockchain, there is likely to be more seamless connectivity and the emergence of new business models that transform multiple sectors. By operating responsibly and fostering collaboration, businesses can help shape a more sustainably connected and prosperous future for all.

Reducing our environmental footprints, through a comprehensive carbon reduction strategy, is central to innovation.

Sam Darwish, Chairman and CEO, IHS Towers. To see the original post, follow this link: https://www.forbes.com/sites/forbesbusinesscouncil/2023/10/19/how-companies-can-achieve-their-sustainability-targets/?sh=211223b043b7

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands, Sustainable Development Goals
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Tides: Navigating Corporate Social Impact Through Turbulent Times

18 10 2023

IMAGE: MATHIAS REDING

By Fatima Fasih from Sustainable Brands • Reposted: October 18, 2023

Senior Advisor of Corporate Social Impact Erin Ceynar shares how the philanthropic partner and nonprofit accelerator helps its clients craft and stand by authentic social-impact efforts, even in the face of headwinds.

Globally, the corporate social-impact ecosystem is at an inflection point. There has been a more significant push for transparency for businesses by stakeholders — specifically on issues relating to human rights. There has also been a shift from the traditional model of shareholder capitalism — where companies prioritize shareholder returns above all else; towards stakeholder capitalism, where businesses are also accountable to all stakeholders — including employees, consumers, communities and the environment. However, against a backdrop of wars in Europe and the Middle East, global inflation, energy markets in turmoil, and ongoing political uncertainty and climate-fueled disasters, corporate social impact/responsibility is under a watchful eye — and being criticized for not being productive for businesses or the communities they aim to benefit.

To understand the current corporate social-impact landscape and the barriers it faces, Sustainable Brands® sat down with Erin Ceynar, Senior Advisor of Corporate Social Impact at Tides — a philanthropic partner and nonprofit accelerator that collaborates with donors, foundations, businesses and other social enterprises to promote and facilitate change in various societal areas. At Tides, Ceynar helps clients build strategic-investment programs from the ground up — including consumer activation and smaller impact efforts such as employee engagement. Her work includes designing and facilitating a participatory grantmaking process that encourages companies to shift from a transactional approach to a trust-based one.

We asked how her nearly 20 years’ experience in philanthropy and social impact helps her organization and its clients navigate such volatile times.

How do you and your team at Tides engage with companies on corporate social-impact projects?

Erin Ceynar: Tides is a nonprofit and philanthropic organization committed to advancing social justice. We’re about shifting power and centering equity in everything we do. We have deep connections with not only donors — including companies — but also doers. Since 1976, we’ve partnered with companies open and willing to begin investing in programs that center justice and equity to create meaningful social outcomes. My portfolio includes companies at all stages of their corporate social-impact journey. But the thread that runs through all of them is a willingness to use their resources and influence to invest in a just and equitable society. Tides takes companies through the entire process of developing their corporate social-impact goals — from building a concrete vision and point of view through strategy implementation to best practices, protocols and integral operations. We can be an extension of a company’s social-impact team — supporting all facets of the work, ensuring that every dollar is used effectively and efficiently, and that impact is measured through their theory of change and ESG.

During times of economic stress, what are some ways that companies can keep their social-impact programs on track?

EC: Undoubtedly, the corporate social-impact ecosystem is enduring growth and retraction. Some days, the pendulum is swinging forward; and some days, I feel whiplash. Companies are being challenged by their stakeholders, both customers and employees, to make meaningful social investments. And they don’t want words; they want action.

At the same time, corporate social-impact programs are being asked to do more with less. There have been cuts to staff and budgets; but with so many critical social-justice issues at stake — the climate crisisand fundamental human rights like access to voting, health and education — companies must, at a minimum, stay the course on their social-impact goals. Better yet, they must double down and commit to deepening their impact. For most companies we work with, staying steady in their social-impact programs through turbulence means exploring new ways of connecting social-impact work to core business efforts. Setting up a sustainable, integrated, corporate social-impact approach means it’s more likely to resonate with employees and customers; they see themselves reflected in the company’s purpose. Time and time again, these programs weather all kinds of uncertainty — be it economic, leadership change, a pandemic, etc. These companies must remember that they aren’t just investing in community outcomes; they’re building their brand and reputation.

Younger employees expect to work for companies that take a stand on social issues and reflect their values. How can corporate social-impact programs play a role in engaging employees?

EC: My work as a Senior Advisor in corporate social impact means I interact with many different companies. Throughout the year, companies run the gamut about engaging employees or having a pulse on employees’ expectations. Many toe a fine line — especially on the heels of layoffs and reorganizations. Engaging employees has to be meaningful; it has to be authentic. If it isn’t, employees will read right through it. Some companies do this well. Some not.

Employee engagement can be everything from volunteer events to highly specific, skills-based volunteering. The outcomes for both may vary. Single-experience employee volunteering is often low impact for the nonprofit but high impact for employees. When we help our partners think about engaging employees, we’re focused on aligning those engagement programs with the employees’ desires, the company’s goals and its bottom line.

Importantly, it’s no longer okay for companies to stay agnostic on social issues. Younger employees are pushing for brands to take a stand from within; and younger customers are also making their expectations known by where they spend their money. Social-impact programs are a critical component of attracting and retaining top talent. These programs reflect the values of the company and many of the employees who work there. They motivate, inspire and give power to their employees — who may become more likely to stay with these companies for the long haul.

Tides is focused on shifting power to changemakers and communities that have historically faced systemic barriers to opportunities. How do you see corporate social giving reflecting that commitment?

EC: Sometimes, it’s not so much what companies are doing, but how they are doing it. Could their corporate philanthropy be more nonprofit-centric? Could their volunteer programs focus on impact rather than outputs? Could their disaster-relief efforts center on communities often left behind by national or global efforts? Could they be using their real estate for social good? Could they be activating their customers to be better citizens of the world by using their communication channels? Could they shine more light on historically marginalized communities in their corporate philanthropy? Every company has the opportunity to use its positional power for good: A recent poll by Benevity found that “80 percent of US employees believe it is the responsibility of company leaders to take action in addressing racial justice and equity issues.” Don’t stay on the sidelines.

As an advisor, it is my ethical responsibility to amplify the work of historically marginalized communities. I want to sit at the table when corporations build their corporate social-impact programs. If invited, I provide a viewpoint often not heard within business circles. Investing in organizations with leaders who share the identity, lived experience, and/or geography of the community they serve is a highly effective way to drive impact and improve relationships with the communities a company seeks to support. Communities and their leaders know what they need to thrive; and there is growing evidence that nonprofits led by and for people closest to a community or issue are more innovative and better problem-solvers. However, only 4 percent of US philanthropic dollars go to organizations led by people of color most impacted by systemic inequity. For companies, this means that there is an opportunity and an obligation to stand out by supporting under-resourced and highly effective grassroots organizations.

A growing list of brands and investors are experiencing backlash for their ESG/social-impact initiatives. How does Tides advise its corporate partners to stay the course in such a charged climate?

EC: Companies need to take a hard look at their purpose. What are they solving for? How are they showing up in the world? Are you doing more harm than good? And if the company is doing some damage, how might they mitigate that with authenticity and integrity?

Backlash is noise and often doesn’t matter much. What does matter is a corporate regulatory environment that will only see more, not less, mandatory reporting in the future — despite backlash coming primarily from vocal fringes, media and sometimes employees. Take, for instance, the recent chilling effect we’re witnessing with corporate DEI on the heels of the Supreme Court‘s affirmative-action decision regarding college admissions. The shifting legal landscape doesn’t mean it’s time to step back on DEI efforts. Companies can’t afford to. By 2045, this country is on track to have mostly people of color. Aside from the moral and ethical imperative to advance equity and social justice, business has no choice but to prioritize DEI to serve customers, attract the best talent, and reach new markets. The Supreme Court’s ruling doesn’t change these facts.

I do advise businesses to ask their legal counsel to partner with them in protecting companywide DEI efforts; this isn’t about rolling back DEI programs but about protecting them. Lastly, ensure you socialize how core DEI is to your company’s success. Gaining internal alignment will dispel internal misconceptions.

How do you see the corporate social impact landscape changing over the next five years?

EC: Full disclosure: I have a graduate degree in Sociology. That said, I find the ‘S’ in ESGvery important. I encourage companies to start reporting more consistently on S data. These standards start from the ground up. Irrespective of rating agencies, companies have their own fiduciary duty to measure and disclose material S information to shareholders. Companies are beginning to see that they can’t wait for the world to agree on corporate performance standards on racial and social justice. We’re seeing early-adopter corporations stepping up with S impact data. And honestly, more ESG investor funds require it. There is no doubt that S impact data is complex; it cannot be simply captured in a survey. It requires specialized taxonomies, questionnaires and independent verification.

In the next five years, we’ll see S impact data informing a company’s growth potential, competitive employee advantage, new market potential and more. At Tides, we know that focusing solely on the environment only gets you so far. People live on this planet; and we need to measure their improvement. Creating better S data gives the market something to price. That said, we will see practitioners of corporate social impact buying “outcomes” in social marketplaces, similar to how one accepts carbon or environmental credits now. The ‘E’ in ESG has led innovation in this area. Organizations like Impact Genome andOutcomesX are changing this narrative; they’re building a market where nonprofits can sell their measurable and verified socially positive outcomes.

To see the original post, follow this link: https://sustainablebrands.com/read/walking-the-talk/tides-navigating-corporate-social-impact-turbulent-times

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, stakeholder capitalism, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Evidence-Based Pathways for Business to Support the SDGs

14 10 2023

Climate Week attendees strike a pose at the SDG Pavilion in front of the United Nations Headquarters in New York City on September 21, 2023. Image credit: U.N. Partnerships/Pier Paolo Cito via Flickr

By Mary Riddle from Triple Pundit • Reposted: October 14, 2023

As the Sustainable Development Goals (SDGs) reach their midpoint, the world is “woefully off-track” in meeting the targets by the 2030 deadline, the United Nations warned this summer. Only 15 percent of the SGDs are on track, according to the U.N. Global Compact. Progress on 37 percent of the targets has either stagnated or reversed, while efforts on the remaining half are considered weak or insufficient. With seven years left to meet the Global Goals, the U.N. is calling on the private sector to help accelerate implementation.

While business leaders remain confident about the vision for the future underscored in the SDGs, their confidence in meeting the targets by 2030 dwindled from 92 percent in 2022 to 51 percent this year, according to a new report.

Last month, Accenture partnered with the U.N. Global Compact to publish the Global Private-Sector Stocktake, a first-of-its-kind look at private-sector impact on the SDGs, with tangible action items and resources that companies can consider to drive progress on the road to 2030. The report outlined 10 key pathways for corporations — which include putting existing markets to work for social equity by way of a living wage and addressing gender pay gaps, as well as more transformative moves to integrate the SDGs into corporate finance and promote sustainability leadership in the private sector.

Sustainable corporate finance

“There is a lot of momentum around impact accounting, which ensures companies are taking into full account both tangible outcomes like revenues and returns for shareholders, but also the intangible outcomes like indirect carbon emissions,” said Vik Viniak, senior managing director and North America sustainability lead at Accenture.

“For example, Mastercard links incentives for executives and employees to their ESG [environmental, social and governance] objectives, which include gender equity and emissions reductions,” he said. “With Google and Amazon, if you look at their tech businesses like Google Cloud and [Amazon Web Services], they are using green principles to create more energy-efficient computing systems, and that ties into their executive remuneration. In most public companies, your compensation is tied to shareholder value, but it is important to remember that ESG is also directly tied to shareholder value.”

Sustainable corporate finance just makes good business sense. Impact accounting helps corporations establish better decision-making frameworks and can give companies leverage in discussions with their supply chain partners.

“If you are looking at two suppliers in your supply chain and everything else is equal, but one supplier has a better record on emissions, suddenly the decision becomes much easier,” Viniak said. Impact accounting should also be part of a company’s public reports, he said.

However, he emphasized that sustainable finance is an evolving space. The U.N. Global Compact launched the CFO Coalition last month to put clear definitions and guidelines in place to help companies integrate the SDGs into their corporate financing. Viniak is optimistic about the coalition’s work. “The current state of confusion is causing companies to not take action,” he said. “There is a paralysis. This clarity can help get blood flowing so it can function.”

Strengthening sustainability leadership for the SDGs

“True sustainability leadership is about holding senior leaders accountable,” Viniak said. “Empower everyone in the organization to take action, but make sure leaders are talking the talk and walking the walk. We need humility and self-realization in organizations. Management can lead by being humble and knowing that they can do more.”

There are clear benefits to corporate support for the SDGs, but it is important for companies to be able to substantiate their claims, show their metrics, and transparently report on their goals, reasoning and progress. “The market has gotten smarter,” Viniak said. “Investors and consumers can identify SDG-washing in companies that can’t support their claims.”

When leaders embrace the SDGs, it can serve to engage the entire workforce, Viniak said. “For leaders, one of the most important incentives for working toward the SDGs is that people are going to get excited,” he told us. “At Accenture, we have a huge, young workforce, and this workforce is asking Accenture what we are doing for the SDGs. Our CEO always says that we need to be our best credential. We have rallied our workforce around the mission of sustainability, and in our global workforce, in every community we are in, our people are making an impact. You can rally your whole organization around the SDGs and give them the tools to measure their impacts, and we can all hold each other accountable.”

The SDG Stocktake is a clarion call for all corporations

For companies that have yet to examine their impact on the SDGs, Viniak emphasized that it is not too late. “I encourage every company to start the process of understanding specific ESG impacts based on their industry and sector,” he said. “The biggest positive and negative impacts need to inform strategy.”

Once a corporation clearly understands their ESG impacts, they can evaluate how those impacts could help meet the targets of the SDGs and embed that into their decision-making frameworks.

“You can’t improve what you can’t measure,” Viniak said. “Companies must reflect on their impact on the SDGs. Then, they must set goals, identify how they can continue to accelerate the areas in which they lead, and how they can double down to improve those areas where they might be behind.”

Scaling up new incentive systems is also key to move progress forward. In the Global Private-Sector Stocktake report, business leaders clearly identified the support they need. “There is a huge lack of clarity in terms of goals and measurements,” Viniak explained. “Eighty percent of business leaders claim there are insufficient policy incentives to incorporate ESG considerations, and 84 percent are uncertain about measurements and calculations.”

Fortunately, the private sector is rapidly innovating to address leadership concerns, with new data management companies and softwares regularly coming to market that address these challenges. “There are now data providers that are helping companies define specific impacts on the SDGs,” Viniak said. “This kind of data could help companies understand their own impact in a measurable way for the first time.”

But for these services to make a difference, companies have to use them. “Companies need to see the value of this and pay for it,” Viniak said. “This data could revolutionize incentives if tied to accounting and taxation in the future. We may be able to crack the data measurement problem soon. While companies are currently not being held accountable in consistent ways, with emerging data tools, they can be and should be.”

Viniak recognizes that the private sector is off track, but he remains optimistic. “Games are won in the second half, not the first,” he said. “Yes, we are trailing. We are behind, but we can win. The private sector is a key player to achieve the SDGs. It is time to step up in the second half to win this game.”

Mary Riddle is a writer and sustainability consultant based in Florence, Italy. As a former farmer and farm educator, she is passionate about regenerative agriculture and sustainable food systems. to See the original post, follow this link: https://www.triplepundit.com/story/2023/ways-business-support-sdgs/785016

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Tags: accountability, CFO Coalition, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, SDG, sustainability, sustainable branding, sustainable brands, Sustainable Development Goals, UN Global Compact
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

5 sustainability terms retail executives need to understand

12 10 2023

By Scot Case, VP, CSR & Sustainability from the National Retail Federation • Reposted: October 12, 2023

Consumer demand for more sustainable products from more sustainable companies continues to grow, but different consumers focus on different aspects of sustainability and use different language to talk about it. As a result, it is important for retail executives to recognize how the language around sustainability is evolving so they can meet the needs of consumers, employees and investors.

Understanding the following five sustainability terms — what they mean, how they evolved and how they connect with each other — is vital for success with sustainability-focused consumers and other stakeholders.

1. Sustainability

The most cited definition for sustainability was introduced by the United Nations Brundtland Commission report “Our Common Future” in 1987. The report defines sustainability as “meeting the needs of the present without compromising the ability of future generations to meet their own needs.” The definition is intentionally broad and incorporates human health, environmental, social, cultural and community needs.

Notably, the report also acknowledges the vital role of profit-motivated businesses to generate the capital necessary to invest in the needs of the future. When this aspect of sustainability was at risk of being overlooked, the business community, led by consultant John Elkington, began framing sustainability around the “triple bottom line” of “people, planet and profit.”

2. Corporate social responsibility

CSR is a vital component of any retail sustainability strategy because it addresses the direct connections between retailers and the communities they serve. CSR initiatives predate modern understandings of sustainability, dating to concerns about worker well-being in the mid-to-late 1800s. As retailers and others in the business community began integrating sustainability considerations into their business strategies in the 1990s, CSR initiatives were a natural place to begin because they focus on people.

Modern CSR priorities include charitable donations to local communities and supporting causes like local school sports teams, community improvement efforts, veterans’ issues, literacy campaigns, access to healthy food within inner-city neighborhoods, community beautification projects and other social and community issues.

3. Environmental, social and governance

By the early 2000s, more companies were integrating sustainability considerations into their business strategies, including efforts focused on environmental, social and community issues. Nonprofit organizations and investors, however, want evidence that those efforts are producing beneficial results. They want the ability to measure progress, to calculate returns on investment, cost savings and risk reduction, and to ensure companies have governance structures in place to manage the issues. ESG reporting became an important measurement tool for analyzing the effectiveness of sustainability strategies.

4. Circularity

Circularity is another sustainability framework attracting significant consumer, investor and retailer attention. As defined by the Ellen MacArthur Foundation, a truly circular system mimics nature, where there is no waste because one species’ waste becomes the raw material for other species to thrive

Circular retail business models, including resale retail and refillable packaging solutions, attempt to replicate natural systems and eliminate consumer and manufacturing waste. They keep products circulating from one consumer to the next, reusing and repairing products rather than throwing them away, and recycling them when they are no longer needed so the recycled materials can be used to make new products.

5. Regenerative

The original definition of sustainability — meeting the needs of future generations — means ensuring that future generations have access to needed resources. In some parts of the world, this requires regenerating and restoring natural systems so they can continue providing for human needs long into the future.

Companies like Walmart, Target, Ahold Delhaize (owner of Giant Foods, Food Lion and Hannaford), Levi Strauss & Co. and Madewell are working with suppliers to improve farming, forestry or fishing practices in ways that restore and regenerate natural systems for the future. Encouraging organic and no-till farming techniques, for example, restores soil health, enhances biodiversity and improves long-term productive capacity. Regenerating ocean reefs, forests and other natural habitats protects entire ecosystems that provide valuable resources that will be needed in the future, including food, clean air, clean water and a stable climate.

The language around sustainability will continue to evolve as different stakeholders emphasize different aspects of sustainability. It is important for retail executives and others to understand that, like the blind elders exploring an elephant for the first time, they are all exploring sustainability even when they are focusing on different aspects and using different language to describe it. Helping consumers, employees, suppliers and investors see the entire elephant can help eliminate confusion and accelerate progress.

To see the original post, follow this link: https://nrf.com/blog/5-sustainability-terms-retail-executives-need-understand

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Tags: accountability, Circularity, corporate social reponsibility, corporate social responsibility, CSR, Ellen MacArthur Foundatio, ESG, green marketing, Regenerative, responsible brands, sustainability, sustainable branding, sustainable brands
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Beyond Products: How Brands Are Cultivating Trust in the Age of Customer-Centricity

12 10 2023

Credit: Getty Images by martin-dm

By Sohaib Ahmed from Total Retail • Reposted: October 12, 2023

In the last few decades, the market has witnessed a gradual power shift between brands and consumers. Previously, brands would work on their ideas and develop a product or service that they believed would help customers. Now, brands are taking notes and working on innovating and devising products and services that customers believe in. By conscientiously creating offerings to make consumers feel valued and needed, brands foster greater customer centricity.

Today’s Era Requires a Customer-Centric Approach

Prioritizing the customer above everything is no longer a fresh concept in terms of marketing, but it remains the most crucial of all. Being customer-centric allows brands to develop trust and a sense of reliability in the eyes of their customers.

Many companies that boasted being customer-centric in the pre-COVID era failed to deliver on their promises once the situation turned grave. Customers all over the globe realized that most brands didn’t have a plan B or plan C to ensure the convenience of purchase and a thorough customer service experience in case of a natural calamity such as COVID-19. How could they though? It was an unprecedented situation that completely shook the world. Whether it was helping customers virtually or providing them with detailed information on the product/service pre- and post-sale, most B2C and B2B brands struggled to ensure quality assistance in remote setups.

Consequently, brands faced revenue loss and an unfortunate erosion in reputation even though the quality of products/services was up to the mark.

Customer-centricity attracts brand loyalty, and in return, the frequency of purchases increases and so does positive word-of-mouth marketing. The positive consequences help the brand earn respect and a good reputation in the eyes of consumers.

Helping Brands Excel in Customer-Centricity

A brand or business is termed customer-centric when it puts forth the customer’s requirements above everything. All the strategies and important decisions are centered around the customer’s convenience and need.

The following 10 important factors can help a brand excel in the department of customer-centricity:

Anticipate customers’ needs beforehand. Many companies spend a lot of time and money hiring analysts who can help understand a typical consumer’s mindset. Brands that can predict a trend have a business advantage over their counterparts. Innovating in areas that can guarantee convenience for the end user surely makes it to the top of a consumer’s purchase preference. Many companies are turning to artificial intelligence-backed tools to gauge and understand future market dependencies.
Express empathy and concern. A brand that wishes to ensure a good reputation should invest in building a customer service team that’s trained to handle clients in emotional distress. Listening and being empathetic to a customer’s predicament instills trust in the customer’s mind. This, followed by an effective solution to the issue, creates a positive customer experience and thereby leads to brand loyalty. Commerce with compassion is a key step to achieving customer-centricity.
Deliver exemplary customer service. Customer service, at times, is single-handedly responsible for classifying a brand as customer-centric or the contrary. Brands that emphasize a pleasant customer experience during the sale and strive to retain the same kind of vibrations and impressions post-sale are truly valued. Outstanding customer service is a mélange of flexible and empathetic interactions at all touchpoints, effective solutions, fast response time, and customization.
Stay flexible. Today’s consumers like short and simple interactions. Brands that can provide frictionless customer-agent interactions at all touchpoints will earn themselves a favorable reputation. Flexibility also involves being present on multiple channels for easy and interruption-free conversations. According to Comm100, millennials prefer live chat for fast and convenient customer service, so it’s no wonder that many organizations have implemented a live chat experience.
Offer personalized experiences. Personalized experiences are essential to achieve customer-centricity. If a brand fails to create an experience that suits the customer’s time and convenience, the brand is most likely to lose its customer to one of its competitors. Also, personalization isn’t restricted to experiences. A customer-centric brand imbibes personalization through its promotional content, products and services. For instance, skincare giant Clinique came up with a moisturizing lotion that can be customized to suit the specific skin requirements of the user. One can add up to five booster cartridges of their choice.
Ensure ethical leadership. Ethical leadership is one of the most difficult goals to achieve for a brand aiming at customer-centricity. Conducting business in compliance with the resident country’s laws and regulations isn’t an obstacle-free path. When a company still chooses to do it, it becomes customer-centric and earns brand loyalty for life.
Maintain transparency and honesty. Customer-centric brands practice honesty and transparency while listing product/service features on their website or chosen platform of communication. They also encourage communication which sheds light on hidden charges, and prices inclusive of taxes and shipping.
Enlist affordable and user-friendly products/services. Purchase price and user friendliness are two important decision-making aspects for consumers. Today’s consumers are smart and quick to understand when a product or service is priced unjustly — or even justly for that matter. When a product/service is reasonably priced, the brand attracts affinity from a large group of consumers. In addition to this, the complexity level of operating a certain product also proves to be crucial if a customer has purchased it to save time.
Provide omnichannel support. If a brand wants to stay ahead of its customers, it must ensure an omnichannel support system. Modern customer engagement tools can mobilize and personalize customer journeys across multiple channels. For example, live chats, social media, offline and online messaging systems, calls, and emails. According to Microsoft, most customers continue to use three to five channels to get their issues resolved, so it doesn’t look like the omnichannel experience is going away anytime soon.
Respect your consumer’s privacy. There’s a fine line between approaching customers about their preferences and harassing them to leverage their data for business gains. When a brand makes a conscious choice to respect the customer’s privacy and actively protects sensitive or classified data, it becomes customer-centric.

Acknowledge Customer Expectations

Today’s consumers are more informed and more selective than their predecessors. This indicates that companies should step up their game and meet these ever-evolving expectations — or risk losing out to their competitors.

Furthermore, customer expectations are often based on past experiences. A true customer-centric brand will work meticulously to rise to the occasion by diminishing past biases, meeting new expectations, and even exceeding them in some cases.

Sohaib Ahmed is senior director of CX program strategy at HGS, the leader in digital-led customer experience and business process management. To see the original post, follow this link: https://www.mytotalretail.com/article/beyond-products-how-brands-are-cultivating-trust-in-the-age-of-customer-centricity/

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Evidence-Based Pathways for Business to Support the SDGs

9 10 2023

Climate Week attendees strike a pose at the SDG Pavilion in front of the United Nations Headquarters in New York City on September 21, 2023. (Image credit: U.N. Partnerships/Pier Paolo Cito via Flickr)

By Mary Riddle from Triple Pundit • Reposted: October 9, 2023

Sustainable corporate finance

Strengthening sustainability leadership for the SDGs

The SDG Stocktake is a clarion call for all corporations

Once a corporation clearly understands their ESG impacts, they can evaluate how those impacts could help meet the targets of the SDGs and embed that into their decision-making frameworks.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/ways-business-support-sdgs/785016

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, Global Private-Sector Stocktake, green marketing, responsible brands, SDGs, sustainability, sustainable branding, sustainable brands, Sustainable Development Goals, U.N. Global Compact
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Lego’s ESG dilemma: Why an abandoned plan to use recycled plastic bottles is a wake-up call for supply chain sustainability

7 10 2023

Legos are designed to last for decades. That posed a challenge when the toymaker tried to switch to recycled plastics. AP Photo/Shizuo Kambayashi

By Tinglong Dai, Professor of Operations Management & Business Analytics, Carey Business School, Johns Hopkins University, Christopher S. Tang, Professor of Supply Chain Management, University of California, Los Angeles and Hau L. Lee, Professor of Operations, Information & Technology, Stanford University via The Conversation • Reposted: October 7, 2023

Lego, the world’s largest toy manufacturer, has built a reputation not only for the durability of its bricks, designed to last for decades, but also for its substantial investment in sustainability. The company has pledged US$1.4 billion to reduce carbon emissions by 2025, despite netting annual profits of just over $2 billion in 2022.

This commitment isn’t just for show. Lego sees its core customers as children and their parents, and sustainability is fundamentally about ensuring that future generations inherit a planet as hospitable as the one we enjoy today.

So it was surprising when the Financial Times reported on Sept. 25, 2023, that Lego had pulled out of its widely publicized “Bottles to Bricks” initiative.

This ambitious project aimed to replace traditional Lego plastic with a new material made from recycled plastic bottles. However, when Lego assessed the project’s environmental impact throughout its supply chain, it found that producing bricks with the recycled plastic would require extra materials and energy to make them durable enough. Because this conversion process would result in higher carbon emissions, the company decided to stick with its current fossil fuel-based materials while continuing to search for more sustainable alternatives.

As experts in global supply chains and sustainability, we believe Lego’s pivot is the beginning of a larger trend toward developing sustainable solutions for entire supply chains in a circular economy. New regulations in the European Union – and expected in California – are about to speed things up.

Examining all the emissions, cradle to grave

Business leaders are increasingly integrating environmental, social and governance factors, commonly known as ESG, into their operational and strategic frameworks. But the pursuit of sustainability requires attention to the entire life cycle of a product, from its materials and manufacturing processes to its use and ultimate disposal.

The results can lead to counterintuitive outcomes, as Lego discovered.

Understanding a company’s entire carbon footprint requires looking at three types of emissions: Scope 1 emissions are generated directly by a company’s internal operations. Scope 2 emissions are caused by generating the electricity, steam, heat or cooling a company consumes. And scope 3 emissions are generated by a company’s supply chain, from upstream suppliers to downstream distributors and end customers.

Lists of examples of sope 1, 2, 3 emissions sources with an illustration of a factory in the center — *What scope 1, 2 and 3 emissions involve. Graphic: Chester Hawkins/Center for American Progress*

Currently, fewer than 30% of companies report meaningful scope 3 emissions, in part because these emissions are difficult to track. Yet, companies’ scope 3 emissions are on average 11.4 times greater than their scope 1 emissions, data from corporate disclosures reported to the nonprofit CDP show.

Lego is a case study of this lopsided distribution and the importance of tracking scope 3 emissions. A staggering 98% of Lego’s carbon emissions are categorized as scope 3.

From 2020 to 2021, the company’s total emissions increased by 30%, amid surging demand for Lego sets during the COVID-19 lockdowns – even though the company’s scope 2 emissions related to purchased energy such as electricity decreased by 40%. The increase was almost entirely in its scope 3 emissions.

As more companies follow in Lego’s footsteps and begin reporting scope 3 emissions, they will likely find themselves in the same position, realizing that efforts to reduce carbon emissions often boil down to supply chain and consumer-use emissions. And the results may force them to make some tough choices.

Policy and disclosure: The next frontier

New regulations in the European Union and pending in California are designed to increase corporate emissions transparency by including supply chain emissions.

The EU in June 2023 adopted the first set of European Sustainability Reporting Standards, which will require publicly traded companies in the EU to disclose their scope 3 emissions, starting in their reports for fiscal year 2024.

California’s legislature passed similar legislation requiring companies with revenues of more than $1 billion to disclose their scope 3 emissions. California’s governor has until Oct. 14, 2023, to consider the bill and is expected to sign it.

At the federal level, the U.S. Securities and Exchange Commission released a proposal in March 2022 that, if finalized, would require all public companies to report climate-related risk and emissions data, including scope 3 emissions. After receiving significant pushback, the SEC began reconsidering the scope 3 reporting rule. But SEC Chairman Gary Gensler suggested during a congressional hearing in late September 2023 that California’s move could influence federal regulators’ decision.

This increased focus on disclosure of scope 3 emissions will undoubtedly increase pressure on companies.

Because scope 3 emissions are significant, yet often not measured or reported, consumers are rightly concerned that companies that claim to have low emissions may be greenwashing without taking action to reduce emissions in their supply chains to combat climate change.

At the same time, we suspect that as more investors support sustainable investing, they may prefer to invest in companies that are transparent in disclosing all areas of emissions. Ultimately, we believe consumers, investors and governments will demand more than lip service from companies. Instead, they’ll expect companies to take actionable steps to reduce the most significant part of a company’s carbon footprint – scope 3 emissions.

A journey, not a destination

The Lego example serves as a cautionary tale in the complex ESG landscape for which most companies are not well prepared. As more companies come under scrutiny for their entire carbon footprint, we may see more instances where well-intentioned sustainability efforts run into uncomfortable truths.

This calls for a nuanced understanding of sustainability, not as a checklist of good deeds, but as a complex, ongoing process that requires vigilance, transparency and, above all, a commitment to the benefit of future generations.

To see the original post, follow this link: https://theconversation.com/legos-esg-dilemma-why-an-abandoned-plan-to-use-recycled-plastic-bottles-is-a-wake-up-call-for-supply-chain-sustainability-214573

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Tags: accountability, Carbon Footprint, Climate Risk, corporate social reponsibility, corporate social responsibility, Corporate Value Chain, CSR, ESG, European Sustainability Reporting Standards, green marketing, Greenwashing, Lego, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

‘The Climate Crisis Is, in Part, a Communication Crisis:’ Brands Must Walk Their Talk to Galvanize Consumers

7 10 2023

IMAGE: VIKTORIA SLOWIKOWSKA

From Sustainable Brands • Reposted: October 7, 2023

A new study by Magna, Teads and Project Drawdown confirms consumers are relying on brands to create a clear, tangible and compelling vision — backed by substantive action — to guide them toward more sustainable lifestyles.

Today, MAGNA — the investment and intelligence arm of IPG Mediabrands — released a study conducted in partnership with Project Drawdown and cloud-based, omnichannel advertising platform Teads to better understand consumer perspectives on sustainability, especially as it relates to the continued barriers that prevent more sustainable lifestyles.

Sustainability Speaks: Breaking the Barrier of Climate Communication explores how brands can help bridge these barriers and how advertisers can more effectively communicate their sustainability goals while also supporting brand growth.

MAGNA surveyed 9,112 people in the United States, the United Kingdom and Australia, and held five focus groups in the US. Along with echoing recent research from Sustainable Brands® and Deloitte on the most common, ongoing barriers to consumer adoption of more sustainable habits and lifestyles (expense and lack of access), the study found that despite these barriers, people remain motivated to ensure a better future — with 99 percent of people agreeing that they can be motivated to take sustainable action.

“The climate crisis is, in part, a communication crisis,” said Jonathan Foley, Ph.D., Executive Director of Project Drawdown. “We already have the solutions we need to turn things around; but we are still paralyzed by misinformation, fear and the lack of will to act. We need a clear and compelling vision to move forward — a vision of a better future, where we come together to stop climate change, and build a better world for all. That could change the world.”

Additional key findings confirm the imperative for brands to be part of the conversation: 77 percent of respondents said they wanted brands to take a stance on sustainability. Furthermore, 75 percent somewhat or strongly agreed that if brands took meaningful action on sustainability, it would have a tremendous impact on the environment; and 35 percent would be motivated to act, if they see brands have, too.

A brand that offers tangible, relevant data in advertising — such as a statistic on how much water was saved in manufacturing — scores better than ambiguous messaging. Defining sustainability itself, a broad term that can vary by product category, makes a difference in helping consumers align around a company’s actions.

The study also ranked which channels consumers favor more when receiving sustainability messaging. Advertising, at 66 percent, was the optimal channel; followed by social media (62 percent), newsletters (57 percent), and influencers and other brand representatives (52 percent).

But advertising itself is also in the hot seat, thanks to its until-recently-unchecked carbon footprint — initiatives such as Scope3 and Ad Net Zero have emerged to help ensure the climate impacts of the messengers no longer undermine their sustainability messaging.

“Sustainability practices are good for business, with innovation, transparency, and information key for brands to strengthen their customer relationships long term,” added Neala Brown, SVP of Strategy & Insights at Teads. “While brands should ease customer hesitations toward adopting a sustainable lifestyle and given advertising as an optimal channel for that messaging, we are simultaneously working with our brand partners to reduce their own digital carbon footprint with supply chain and media optimization via direct publisher relationships.”

Going forward, in addition to reining in the physical impacts of ad production, brands would do well to focus on two aspects of their messaging:

Authenticity and credibility — with heightened awareness and scrutiny of sustainability claims and sensitivity to greenwashing, brands must ensure both their communications teams and the content creators they partner with are versed and confident in the validity of the claims they espouse.
Broader target demographics — brands automatically limit the potential impact of their messaging when they make assumptions about which demographics are more easily engaged on sustainability topics; by considering these more carefully — and developing and marketing sustainable choices for all consumers, not just those thought to be most easily moved by sustainability claims — brands can ensure broader influence and impact.

The full study can be found here.

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/climate-crisis-communication-crisis-brands-walk-talk-galvanize-consumers

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Greenwashing, Magna, Project Drawdown, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Why Committing To Sustainability Is Critical For Today’s Businesses

4 10 2023

Photo: Getty Images

By Gajen Kandiah, Brand Contributor, Hitachi Vantara Perspectives via Forbes.com • Reposted: October 4, 2023

When we think of sustainability, of doing what we can in business and society to preserve and protect the environment, it’s easy to want to think of quick fixes; things we can do right now to solve the problem. We think in terms of products that we can buy to help, and products to avoid; processes to implement, and those to abandon. We want to solve the problem and move on to something else.

But sustainability is not a trend. It will not fade away or be replaced by a new trend. As such, our collective responsibility cannot fade. Operating sustainably is the new way of doing business. We must operate thoughtfully with an eye on how our decisions may impact those that come after us, down the road and into the future.

The concept is not new. I’ve always been fond of the adage, the world is not given by his fathers, but borrowed from his children.

As I wrote last November, despite the well-intentioned efforts of governments and international bodies, like the United Nations’ Climate Change Conference, industry need not wait for regulation to act on emissions, energy, and waste. We can, and many organizations have, act now to reduce and eliminate our carbon emissions, to increase our use of renewables, and to insist that our supply chains are aligned with our missions.

For our part at Hitachi, we are aggressively implementing initiatives to improve our environmental footprint, from our energy usage and emissions, all the way to the products and solutions we develop that are more eco-friendly than previous iterations. We are also expanding this work to involve our extensive partner ecosystem to ensure that everyone with whom we work is on the same sustainability page as we are. Our corporate goals are well documented, to be carbon neutral as a global company by 2030, and to be carbon neutral across our entire value chain by 2050. And while there is tremendous work being done, there’s much more to come.

Like many, I was heartened by the recent Global Electricity Report 2023 from the global energy think tank, Ember, that reported electricity generation was its “cleanest ever” in 2022, falling to a record low of 436 gCO2/kWh, due to dramatic growth in wind and solar generation around the globe. In fact, the report noted that more than 60 countries “now generate more than 10% of their electricity from wind and solar.”

The Future is Not Ours

As we spend Earth Day speaking of policies, programs, and targets to be more environmentally responsible, I encourage you to think of the potential value of all your programs on the future. When we ingrain sustainability into everything we do, with a view of the impact of our decisions on the next generation, it sets in motion actions for the next generation to replicate; momentum is generated and perpetuated, ad infinitum.

A little more than 100 years ago, Theodore Roosevelt said, “I recognize the right and duty of this generation to develop and use the natural resources of our land; but I do not recognize the right to waste them, or to rob, by wasteful use, the generations that come after us.”

The future is not ours, but it is our responsibility. And unless you haven’t been paying attention, our children, the next generation, are in many ways taking a more proactive leadership role in this area than we are. They are demanding action, and it is time for us to step up and meet the challenge.

Let us demonstrate to them, through decisive action, that we are listening and that we are committed to creating a better world for them. It is time to set aside short-term thinking and embrace a long-term approach that considers the implications of our actions on future generations.

Indeed, let us be inspired by the leadership of our children and work together to create a greener future. By doing so, we can ensure that we leave behind a legacy we can be proud of – a world that is healthy and sustainable.

For more on Hitachi Vantara’s eco-first approach to data centers, view here.

To see the original post, follow this link: https://www.forbes.com/sites/hitachi-vantara-perspectives/2023/10/03/why-committing-to-sustainability-is-critical-for-todays-businesses/?sh=e14e58f1d6e8

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, Global Electricity Re\port, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands, UN Climate Change Conference
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

New Sustainability Expert Travel Certification For Travel Agents Launches

3 10 2023

By Kate Harden-England from travolution • Reposted: October 3, 2023

New free e-learning platform empowers the future of a responsible tourism industry

The ‘Sustainability Expert’ initiative was launched during the ANTOR Media Awards Gala Dinner in London.

The new free-to-use e-Learning platform provides a “convenient and easily accessible” resource for responsible tourism education and training worldwide.

It serves as a singular hub for the global travel industry, highlighting organisations, destinations and travel brands committed to environmental stewardship, cultural responsibility, and eco-conscious practices.

The hub, curated by Equator Global, enables individuals to attain the Sustainability Expert certification by successfully completing a minimum of four courses from the 28 free courses featured.

It is endorsed by leading travel and tourism players and underscores the collective responsibility of the worldwide travel industry in working together towards shared goals, in building a sustainable future.

Courses cover a wide spectrum of topics, including Costa Rica’s Pura Vida eco-tourism pledge, Switzerland’s Swisstainable programme and Finland’s Sustainable Travel objectives.

Participants will also be able to delve into Alaska’s conservation endeavours and explore the preservation investments made by AlUla, Thailand and Egypt to protect their timeless cultural treasures, among other topics.

Ian Dockreay, CEO of Equator Global and Travel Uni, said: “For the first time, travel and tourism professionals worldwide can gain recognition as advocates for this crucial initiative for free.

“By just investing their time in learning about the eco efforts of destinations and travel-related companies, they will be better equipped to advise and guide consumers in their holiday choices.

“With travellers increasingly prioritising sustainability in their travel decisions, it is imperative that those arranging their trips can provide informed and confident guidance.”

To see the original post, follow this link: https://www.travolution.com/news/new-sustainability-expert-travel-certification-for-travel-agents-launches/

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, Equator Global, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Building an Economic Case for Sustainability Transformation

3 10 2023

Graphic: Vectormine/stock.adobe.com

By Karthik Balakrishnan from Supply and Demand Chain Executive • Reposted: October 3, 2023

Ultimately, sustainability-linked investments result in reduced liabilities, reduced risk of stranded assets, and reduced risk of regulatory backlash, and improved unit economics and supply chain resilience.

In recent years, corporate sustainability efforts have focused on measurement and reporting. We’ve heard the phrase “what gets measured gets managed” countless times and taken it to heart. The result has been a robust carbon accounting and reporting universe filled with tools that can estimate the emissions for every industry, and an alphabet soup of reporting standards. This result, however, hasn’t been particularly promising. Even companies with the most ambitious climate goals and robust measurement and accounting programs have had trouble cutting their emissions. It turns out that simply measuring something doesn’t mean it’s going to be managed. Measurement is an important first step for an organization to understand and prioritize sustainability efforts. However, sustainability is about the real-world impact that can only be achieved with real-world investments, not an endless cycle of measurement and reporting. Put another way, what gets measured might get managed if you can show that the upfront costs of sustainability are truly investments in a classical business sense, with benefits including ROI, customer retention and risk mitigation.

When your organization is part of a complex supply chain, achieving sustainability targets is made difficult because the investments needed to meet your sustainability goals often involve assets outside of your organization. In these cases, a business justification is especially important, since achieving your targets will only come from partnering with other organizations and showing them the benefits of either investing in their facilities on your behalf, or accepting direct investments for actions and equipment that they might not otherwise purchase.

The first step is to map the key outcomes that apply to your business that can be enhanced by sustainability- and ESG-linked investments. For example, a product’s unit economics can each be improved by changing designs to use less raw material, adjusting production dies and molds to waste less material, and switching to equipment which uses less fuel and is easier to maintain. An existing factory or distribution center can benefit from lower insurance costs by investing in solutions for climate resilience. Meanwhile, a brand-new factory can benefit from a lower cost of capital by investing in future-proof clean technologies that reduce the risk that the facility ends up as a stranded asset due to changing market demands or regulatory conditions.

In all of the examples above, the benefits of sustainability-driven efforts actually benefited the business as a whole. Instead of a green premium, these businesses would benefit from a green return.

As sustainable technologies improve and become more mature, these returns will only improve as well. Holistically studying the impacts of sustainability and ESG investments allows supply chain leaders to build a business case for sustainability that goes beyond marginal abatement curves. Simply focusing on minimizing the cost of sustainability is not a winning strategy when the cost of capital is high. Instead, it’s critical to show how sustainability-linked investments maximize return and positively impact financial outcomes. This is especially helpful when making a case for investment to a key supplier or manufacturer, who may be reluctant to make the process, material or equipment investments standing between you and your sustainability goals.

There is, of course, the elephant in the room. Is it even worth considering ESG and sustainability given all of the controversy and political turmoil surrounding the term? After all, a modern supply chain is fine-tuned, and ultimately performs best by minimizing all sorts of risk, especially those like political risks that live outside your control. The answer, surprisingly, is yes. There are several real unassailable trends that have gained momentum in the last couple of years. In the wake of the Inflation Reduction Act (IRA), passed in August 2022, 80% of money allocated by the bill for clean energy and sustainability projects has gone towards Congressional districts represented by individuals who publicly oppose ESG messaging. Deployments of large, utility-scale solar projects follow the annual resource (how much sunlight is available in a given year) independent of political boundaries. And regardless of the political sentiment, over two-thirds of consumers consider sustainability positively when making at least some of their purchase decisions — nearly sixteen times the number that are influenced negatively by sustainability. Fundamentally, the science and economics of sustainability are sound, and while reporting frameworks and standards may change, the real-world drivers which led to the creation of ESG remain. The bottom line is that while the term “ESG” is facing backlash and the name will change as it has in the past, these principles are being “hardwired” into financial strategies in all but name at full speed. The ROI of sustainability not only shows up at the level of the individual initiative, but increasingly contributes to the overall financial position and investability of the company as a whole.

Ultimately, sustainability-linked investments result in reduced liabilities, reduced risk of stranded assets and reduced risk of regulatory backlash, and improved unit economics and supply chain resilience. Quantifying and clearly communicating these financial and performance benefits, on top of the pure ESG benefits, is critical to move beyond measurement and reporting to achieve real impact.

To see the original post, follow this link: https://www.sdcexec.com/sustainability/carbon-footprint/article/22874707/actual-building-an-economic-case-for-sustainability-transformation

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, Supply Chain, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, ESG, green marketing, reputation management, social responsibility, sustainability, sustainable branding, sustainable brands

How to Market to the Increasingly Socially Conscious Customer

30 09 2023

Graphic: U.S. Chamber of Commerce

By Gino Sesto from Entrepreneur.com • Reposted: September 30, 2023

Key Takeaways

Socially conscious shopping is more than a trend; it’s a movement shaping the current consumer landscape.
Brands have unique opportunities to highlight their commitment to social responsibility.

In today’s dynamic retail environment, there’s a significant shift occurring in the way brands approach their customers. Historically, many industries prioritized competitive prices and discounts. However, the modern consumer is evolving, and the marketing world must follow suit. Brands are now transitioning away from emphasizing price to highlighting values, beliefs and overarching ethos. This shift from cost awareness to conscious consumerism redefines the marketing approach across sectors.

The emergence of the socially conscious consumer

Socially conscious shopping is more than a trend; it’s a movement shaping the consumer landscape. Customers increasingly make purchasing decisions based on the broader impact of their choices, whether environmental sustainability, ethical manufacturing or social justice.

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Recent surveys like the Harris Poll show these changes in consumer spending habits happening in multiple industries. However, while price remains a dominant factor for many consumers, it’s not the sole consideration anymore. Although numerous shoppers still prioritize cost, a growing group is willing to pay a premium for products aligned with their values.

Take fashion as an example. Data reveals that while 22% of shoppers now consider where apparel is manufactured, 17% evaluate brands based on their sustainability initiatives. Fifteen percent examine a brand’s attitude to social issues, and 13% consider its employment practices. While these figures might appear modest, they indicate a growing inclination toward value-driven, socially conscious shopping. As modern shoppers progressively align spending habits with their values, brands that adapt to this approach will reap the benefits of a loyal and expanding customer base.

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Crafting marketing strategies for diverse audiences

Successful brands are those that understand their audience’s nuances. It’s crucial to segment the audience not just by age or gender but by values, beliefs and priorities. For older generations, emphasizing cost-effectiveness and quality remains key. While baby boomers focus on price and quality, younger generations like GenZ-ers and Millennials are more inclined to consider a brand’s values and beliefs. For this generation, the key lies in the tangibles. Brands must emphasize cost-effectiveness without compromising on quality. Promotions, discounts, and loyalty programs are effective marketing tools, while Gladly’s 2022 Customer Expectations Report indicates the importance of the entire shopping experience. Convenience also makes a difference through easy returns, a seamless online shopping experience, or efficient customer service. Boomers are looking for value, but they also want ease and simplicity.

This doesn’t mean cost isn’t essential for younger consumers, but they’re more likely to pay more for products and services that align with their values. Younger audiences and people of color are even more likely to align shopping habits with their values. For these audiences, shopping isn’t just a transaction; it’s a statement. Quality, style and, most importantly, a brand’s position on social and environmental issues have all become equally significant. Brands must integrate values into the shopping experience by showcasing their efforts transparently. Clear stances on social issues and ethical employment practices are effective strategies. Collaborations with influencers who support their values, limited edition “cause” collections, or even a percentage of sales going to a social cause can also be successful

Harnessing digital channels for socially conscious marketing

In the current digital age, brands have unique opportunities to highlight their commitment to social responsibility. Digital marketing platforms allow companies to convey their values, initiatives, and beliefs transparently. Research from The Roundup shows consumers are becoming increasingly environmentally conscious, with many actively seeking out sustainable products.

This shift is supported by a 2021 study that showed 45% of consumers are willing to pay a premium for sustainable products. Additionally, 52% of the respondents emphasized the importance of purchasing from companies whose values align with theirs, marking a significant increase from 43% in 2019. Recent findings from the ninth annual Conscious Consumer Spending Index also showed a 25% surge in socially responsible spending in 2021 compared to the prior year. This data underscores the shift in consumer behavior, where decisions are influenced not just by product quality or cost but also by a brand’s ethical and societal values.

Digital platforms, especially social media, have become the epicenter for brands to showcase their alignment with social causes, sustainable manufacturing processes, and ethical sourcing. By integrating these values into their marketing strategies, brands can foster deeper connections with their audience, building a trustworthy and value-driven image. As consumer preferences continue to evolve, the significance of socially conscious marketing in nurturing brand loyalty and fostering trust becomes even more evident.

Staying nimble in a dynamic landscape

Change is the only constant in the retail world. Brands must remain adaptable as consumer preferences evolve, influenced by global events, cultural shifts, and generational differences. Success lies in understanding and catering to the modern, socially conscious consumer. Companies must balance offering cost-effective solutions and championing values, ethical practices, and social responsibility. As brands navigate this new terrain, those who genuinely connect with their audience’s values will be the ones to thrive.

To see the original post, follow this link: https://www.entrepreneur.com/growing-a-business/how-to-market-to-the-increasingly-socially-conscious/459456

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Harris Poll, responsible brands, Socially Conscious, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Coalition Connects Brands With Schools Struggling to Teach Sustainability

29 09 2023

Students work together on an assignment about ecosystems and environmental impacts during a seventh-grade science class in December 2020. While more schools are introducing sustainability curriculum, some are struggling to get started. (Image credit: Allison Shelley for EDUimages via Flickr)

By Gary E. Frank from Triple Pundit • Reposted: September 29, 2023

Elementary and secondary school teachers want to teach about sustainability, yet many lack the time, resources, and in particular, the tools to do so effectively. For those in the United States, help is on the way.

By 2030, the Sustainability Education Coalition aims to give more than 10 million K-12 students access to educational resources that will help them make informed decisions and take responsible actions when it comes to sustainability.

It’s a first-of-its-kind initiative aligned with the United Nations Sustainable Development Goals and launched by Discovery Education, a leader in developing digital content for K-12 teaching.

“The need for comprehensive sustainability education has never been more pressing,” Amy Nakamoto, Discovery Education’s general manager of social impact, said in a statement. “Recent statistics reveal a concerning trend: While the majority of teachers recognize the importance of teaching students about climate and sustainability, only half of them are currently addressing these vital topics within their classrooms.”

Three factors hinder teaching sustainability to K-12 students in the U.S., Natamoto said. First, some teachers have difficulty figuring out where classes on sustainability belong in their curricula.

“It could be in science classrooms, it could be in social studies classrooms, it could be in blended STEM [science, technology, engineering and math] classrooms. I think currently, teachers are having a hard time figuring out where it fits in the school day,” Nakamoto told TriplePundit.

Others feel they do not know how to teach sustainability topics, she said. Teachers need and want more support in this area, according to a report from the Smithsonian Science Education Center. Of the teachers surveyed, 69 percent said professional development on sustainability would be helpful.

“They want to be able to talk about this with their students, but they don’t know how,” Nakamoto told us. Lastly, while school administrators believe sustainability is a critically important topic to teach, they don’t know how to get the resources to do so, she said.

The Sustainability Education Coalition aims to solve all three problems. It uses insight and expertise from partner companies to create digital content for students to learn from alongside the lessons on the Discovery Education Experience learning platform, Nakamoto said. Support is specifically focused on providing STEM and sustainability education resources to school districts that would struggle to access them otherwise.

“Another way the collaboration happens, in addition to the curriculum and the content, is through strategic thought leadership that takes educators and administrators and puts them in the same rooms as these leading companies,” Nakamoto said. “So [the companies] can understand the challenges of schools to talk about these topics, and the schools and administrators can understand how companies are wrestling with these topics in more real-time.”

On the other side, company partners benefit from joining the coalition through employee engagement, Nakamoto said. Employees want to see their companies investing in initiatives that align their corporate mission with a local community mission.

“Employee engagement is leveraging the employees of our partners to be part of the story. So, we are telling their stories, we are filming them and the solutions they’re doing,” Nakamoto said. “We deeply believe in showing the people who are the leaders in this movement to the students in classrooms across the U.S.”

So far, Subaru of America, LyondellBasell, Nucor, Honeywell, and the National Environmental Education Foundation have partnered with the coalition. Each company that joins helps to unlock access to a complete library of STEM and sustainability education resources for some critical communities, Nakamoto said.

“[Sustainability] is a topic that everybody is both wrestling with and evolving with at the same time,” she concluded. “We have a big vision to grow this to represent multiple sectors, multiple interests because the sustainability story is an everyday story that we all experience just walking through the world. In order to tell that story to students, we need to be influenced by all of the sectors that are engaged in sustainability at their corporate and community level.”

To see the original post, follow this link: https://www.triplepundit.com/story/2023/sustainability-education-k-12/784606

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, Discovery Education, ESG, green marketing, responsible brands, sustainability, Sustainability Education Coalition, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, social responsibility, sustainability, sustainable branding, sustainable brands

How CFOs can position companies to be sustainability leaders

29 09 2023

Image via Shutterstock/One Photo

Chief financial officers are integral to meeting corporate net-zero commitments. By Nico McCrossan from Greenbi.com • Reposted: September 29, 2023

Chief financial officers are responsible for a company’s financial performance and reporting, but that doesn’t adequately capture the role they play in corporate strategy.

Along with projecting the costs and revenue associated with proposed investments, CFOs must organize the resources for execution — giving them immense power over the direction and speed at which a company moves. That’s why in order for a company to transition to a net-zero business model, the CFO must not only be on board but have a hand in guiding the ship. Here are three ways CFOs can navigate that journey.

Adopt impact-driven banking practices

CFOs can help their organizations make significant progress towards decarbonization and diversity, equity and inclusion goals by adjusting corporate treasury practices to support them.

That could mean leveraging impact cash platforms, such as CNote and Impact Deposits Corp., to distribute a company’s deposits across credit unions, community development financial institutions (CDFIs) and low-income designated (LID) financial institutions. These sorts of lending institutions often tout strategies that align with corporate sustainability goals and values such as climate justice or financial inclusion.

By moving corporate deposits to banks where all lending activities are aligned to keeping global temperature increases to less than 1.5 degrees Celsius, a CFO could reduce the carbon footprint associated with the company’s deposits by more than 60 percent, according to a report by BankFWD, Climate Safe Lending Network and The Outdoor Policy Outfit.

Shifting a company’s cash holding to hundreds or thousands of CDFIs could make more operational and growth capital available to women- and minority-owned companies, because CDFIs are required to designate at least 60 percent of their funding activities for low- and moderate income populations or underserved communities. Access to capital is the top barrier to the creation, expansion and growth of women- and minority-owned businesses, according to The Black Business Alliance.

Offer greener retirement plan options

U.S. employer-sponsored retirement plans accounted for more than $11.8 trillion in assets at the beginning of 2023.

Employees — especially Gen Z employees who make up 6.1 percent of the workforce but are expected to account for 30 percent by 2030 — are more often considering companies’ ESG practices and performance when choosing where to work. A KPMG survey published in January found a third of 18- to 24-year-olds have turned down a job offer because of the organization’s ESG performance. Separately, a 2021 Morgan Stanley report found 99 percent of millennials are interested in sustainable investing.

Younger generations will be disproportionately harmed by the effects of climate change as it worsens over time, and some investors are asking that companies analyze whether defaulting to carbon-intensive investments in corporate retirement options puts younger beneficiaries’ savings at greater risk than participants closer to retirement age. The oldest members of Gen Z will reach retirement age in 2055. At that point, the global economy will need to have been operating with net-zero greenhouse gas emissions for five years to meet the goals of the Paris Agreement. That calls into question the logic of including fossil fuels investments within the retirement plans of Gen Z investors.

Corporate financial teams can opt for retirement plan providers that actively engage with the management of companies included in their portfolios to encourage them to adopt sustainable business practices. A ShareAction report published in February ranks the 77 largest retirement plan providers across responsible investment themes.

Establish an internal carbon price

CFOs can help integrate sustainability considerations into corporate decision-making processes by applying an internal carbon price to business activities. Charging business units for the emissions associated with their operations or new investments can encourage managers across the company to align decarbonization efforts with the financial performance of their business units.

This internal “tax” on emissions can also be used to fund decarbonization efforts; financial services firm Société Générale, for example, does this by allocating funds raised by the internal carbon tax to the business units with the most impactful environmental efficiency efforts. This provides the firm’s business units with dual incentives, a carrot and a stick. By investing in carbon reduction initiatives, they can both avoid the costs of the internal carbon tax and receive incentives to cover the cost of future decarbonization efforts.

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Tags: accountability, CDFI, CFOs, corporate social reponsibility, corporate social responsibility, CSR, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, ESG, green marketing, sustainability, sustainable branding

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