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Why Your Sustainable Brand’s Name Is More Important Than You Think

6 02 2024

Photo: Impossible Foods

By David Placek via Sustainable Brands • Reposted: February 6, 2024

The names that resonate with consumers and shop optimism in an industry hoping to fix a host of complicated, global problems will help form a foundation for many years of success.

Over the last decade, the renewable-energy and sustainability industries have experienced huge growth and demand. Environmental concerns regarding fossil fuels, urbanization, and responsible, equitable economic growth have contributed to the rise — coupled with increased legislation and consumer demand for brands committed to making positive social and environment impacts. As this demand continues, we will continue to see an influx of new brands starting out and securing venture capital that are focused on sustainability and clean energy.

New brands in this space should take the time to develop one of their most important brand assets — their name. After all, nothing will be used longer or more often than your brand or product name. Brand names must capture your audience’s attention, communicate your brand story, reflect your values, and transcend global boundaries. Not only that — it must also be able to clear the necessary legal hurdles, which are more difficult now than ever, to get a trademarked name. Sustainability-focused brands are also in the unique position of not only highlighting what they currently do but also conveying a future promise of a sustainable world ahead. The brand name needs to convey optimism and longevity — and most importantly, help build trust with potentially skeptical consumers.

Many brands in this space have launched or branded themselves to include nature-centric names or include terms such as “eco” or “green” in their identity. While you can easily imply sustainability by putting “eco” or “carbon” next to a name, that will be tired and outdated within the next year and does little to differentiate or become memorable.

Think of the name as a vessel that can carry your brand story into the marketplace. Truly iconic brand names are those that stick in our head and make you think. This is why we counsel brands to think of their naming process as more of a strategic exercise coupled with creativity and rooted in linguistics.

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Sometimes, the result is a name that has some risk and challenges you. For example, take Impossible Foods: The company, initially called Maraxi, had the goal of producing great-tasting, vegan alternatives to meat products. It needed a name that spoke to this lofty goal, caught your attention and had an element of surprise. Impossible Foods checked all these boxes — it’s patently false, since the product proves that it is in fact possible; and it acknowledges that the consumer will be skeptical (“this can’t possibly taste like meat!”). With this novel approach, the name has generated unsurpassed interest in a disruptive category in sustainable food.

Another approach is to find a name that allows your audience to think and imagine what the company stands for. While it’s helpful to flat out describe what a company does, give your audience space to come to their own conclusion and allow them to be curious. Enverus is an energy data and analytics company. Initially named DrillingInfo, it needed a new name and identity that spoke to its goal of collaboration in the energy space. The name Enverus was developed through the combination of three word parts that together captured the company’s past, present, future and mission: ‘En’ signaled the energy industry, while ‘ver’ connoted clarity and truth, and ‘us’ communicated their partnership and collaboration with both its customers and partners across the entirety of the energy sector.

Lastly, be original but approachable. Sustainability has many facets and nuances that can be considered high tech or complicated to understand. Instead of going with a high-tech, jargony name, keep it simple but relatable. Luxury electric carmaker Lucid is an example of an original idea in the EV space. “Lucid” is a real English word that conveys intelligence and awareness, so the name’s sound indirectly conveys efficiency and the quiet sanctuary of the driver’s experience. Another example is Lunar Energy — a renewable-energy startup with the mission to make it easy for every home in the world to be powered by the sun with an integrated solar energy system. The brand needed to convey reliability and power, while also maintaining a degree of optimism and positivity. The company landed on Lunar Energy — an unexpected name that takes inspiration from the way that the moon captures the sun’s light to illuminate itself. The use of lunar instead of solar was a surprising yet memorable word for the startup brand.

For startups in the sustainability space or for brands looking to reinvent themselves, look for a name that stands out, and is surprising and aspirational. The names that resonate with consumers and shop optimism in an industry hoping to fix a host of complicated, global problems will help form a foundation for many years of success. Regardless, companies should make a commitment to sustainability branding as a strategic brand-building opportunity.

David Placek is founder of Lexicon Branding — the agency behind the names of iconic brands including BlackBerry, Swiffer, Febreze, PowerBook, Lucid and hundreds of others. To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/brand-name-important

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Tags: accountability, brand names, branding, 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, lack of trust, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Three Sustainability Strategies Even The Busiest CEO Can Commit To

1 02 2024

Photo: Getty

By Noel Asmar, Forbes Councils Member via Forbes • Reposted: February 2, 2024

Noel Asmar is the Founder and Creative Director of Noel Asmar Group of Companies, which services spa, healthcare, hospitality & equestrian.

The last decade has brought a seismic shift in public awareness around the climate crisis we face. Consumers are increasingly demanding businesses become more accountable, but often, the path to building a sustainable business is far from convenient. If I’ve learned one thing working in busy industries like spa, hospitality and healthcare, it’s for meaningful change to happen, solutions have to be simplified.

As we enter 2024, here are three steps any leader can take to lessen their company’s environmental footprint, regardless of their organization’s size or resources:

Gather data on your operations.

When it comes to measuring your environmental impact as a business, the simplest way to get started is to collect data on your operations. Start by taking stock of what your business purchases and disposes of both in quantity and nature, then assess what end-of-life options you have.

Often when businesses make purchasing decisions, we’re focused on aesthetic or performance—while those qualities are important, considering whether or not a product can be easily upcycled, recycled or degraded in the landfill is one of the most effective ways to lessen your environmental impact.

For example, in our business certain polyester fabrics can be used to make insulation for homes. By talking to your manufacturers and suppliers, you can become more educated on the circularity of your products.

The average small business spends $40K annually and product costs are largely a business’s greatest expense. Fortune 500s, on the other hand, can easily exceed $100 billion in annual spending. When we start to gather concrete data and calculate our environmental impact into our purchasing decisions, we can create a ripple effect that benefits all stakeholders.

Invest in quality upfront.

What set our company apart from competitors when we first entered the market in 2002 was our unwavering focus on quality. For our uniforms, we intentionally selected commercial-grade fabrics that withstood heavy washing, were fade-resistant and repelled materials like oil, which practitioners came into regular contact with. This decision was controversial because it set our price point higher than the industry norm.

Investing in high-quality products may throw off the balance sheet for businesses initially, but the long-term economic benefits often outweigh the short-term strain on budgets.

For example during the economic downturn between ’09 and ’11, many hotel properties were forced to cut spending. During this time, I recall getting a call from the spa director of a major resort in Scottsdale, Arizona. He mentioned how grateful he was that the property had invested in our uniforms; while their competitors were struggling to replace faded and damaged uniforms monthly, their staff was still well clad in uniforms that had maintained their color and condition.

Investing in quality upfront, isn’t just an economic play, it also greatly reduces the amount of waste businesses contribute to the landfill. According to the UN, consumers purchase 60% more clothing now than we did 15 years ago, and each item is kept only half as long.

This “throw away” mentality is the reason 134 million tonnes of textiles are expected to be discarded annually by 2030. Considering nearly 85% of all textiles thrown away in the U.S. end up in the landfill or burned, reducing how often your business has to replace goods is a win for the environment and your bottom line.

Find like-minded partners.

One of the greatest challenges businesses face when it comes to responsibly disposing of their waste is navigating logistics. Becoming a sustainable business is highly interdependent on the systems around us. Often recycling requirements are complex and businesses don’t have the resources to fulfill them. For this reason, establishing cross-beneficial partnerships can make a big difference.

A few years ago, my company started a sustainability initiative in an effort to break down the barriers spas and hotels were facing in responsibly disposing of their textiles. In doing so, it became clear recycling stations wanted products to be perfectly segregated down to the yarn, and the big ones had minimum volume requirements. These specific requirements weren’t realistic for spas and hotels because they disrupted the flow of operations, acting as a barrier to doing the right thing.

So we started to explore partnerships in the areas we serviced. We teamed up with a like-minded waste management company and carved out a solution that allowed us to utilize their recycling factories for our spa and hotel partners in the U.S., regardless of their volume.

When you use sustainability as a lens to filter partnerships, you’d be surprised at what becomes possible. For us, it’s even resulted in working with fabric mills to create products from recycled water bottles that naturally degrade if our uniforms do end up in the landfill.

The journey toward sustainability is not without challenge, but it doesn’t have to be overwhelming. By getting a clear picture of your company’s footprint, considering end-of-life strategies and partnering with like-minded suppliers, it is possible to implement practical solutions that are both accessible and scalable. Real change takes time, but there’s never a better time to start than right now.

To see the original post, follow this link: https://www.forbes.com/sites/forbesbusinesscouncil/2024/01/31/three-sustainability-strategies-even-the-busiest-ceo-can-commit-to/?sh=7189c4d44184

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Tags: accountability, CEOs, 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, lack of trust, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Greenhushing at Work: Why 70% of Companies Are Hiding Their Climate Goals

1 02 2024

By Kate Yoder via Triple Pundit • Reposted: February 2, 2024

(Image: Iryna/Adobe Stock)

This story was originally published by Grist. Sign up for Grist’s weekly newsletter here.

For decades, environmental advocates have been pushing back against “greenwashing,” when polluting companies misleadingly present themselves as environmentally friendly. Governments are finally starting to tackle the problem with stricter regulations: The European Union agreed to ban deceptive environmental ads in September, and the U.S. Fair Trade Commission is in the process of updating its guidelines around green advertising.

But as new rules go into effect, they’re contributing to a different problem: Many companies, even honest ones, are afraid to talk about their work on climate change at all.

The practice of “greenhushing” is now widespread, according to a new report released last week by South Pole, a Switzerland-based climate consultancy and carbon offset developer. Some 70 percent of sustainability-minded companies around the world are deliberately hiding their climate goals to comply with new regulations and avoid public scrutiny. That’s in contrast to just a few years ago, when headlines were full of splashy corporate promises on climate change and even oil companies were pledging to zero out their emissions. The report suggests that this newfound silence could impede genuine progress on climate change and decrease pressure on the big emitters that are already lagging behind.

South Pole found that climate-conscious companies in fashion, consumer goods, tech, oil, and even environmental services are “greenhushing.” Nearly half of sustainability representatives reported that communicating about their climate targets has become harder in just the past year. But companies aren’t giving up on going net-zero — just the opposite. Of the 1,400 companies surveyed, three-quarters said they were pouring more money than before into efforts to cut carbon emissions. They just didn’t want to talk much about it.

“We really just cannot afford to not learn from each other,” said Nadia Kähkönen, a deputy director at South Pole and the report’s lead author. Companies should be sharing the lessons they’ve learned from trying to cut their emissions, engaging one another in hard conversations about “what is working and what is not, and how we can improve it,” she said.

Greenhushing was the most common, unexpectedly, among the greenest companies. Some 88 percent of those in environmental services, a category that includes renewables and recycling, said they were decreasing their messaging about their climate targets, even though 93 percent said they were on track to meet their goals. Consumer goods companies, like those that sell food, beverages, and household goods, were the next likely to be greenhushing (86 percent), more than the oil and gas industry (72 percent).

The survey, conducted anonymously, is the first to offer insight from companies as to whythey’re keeping quiet. Environmental service companies had one of the same top reasons as oil companies: heightened scrutiny from investors, customers, and the media. Among all the companies that admitted to greenhushing, well over half listed changing regulations as a reason why they’re not talking about their climate pledges. Some companies also cited a lack of sufficient data or clear industry guidance around how to communicate their green claims.

Their hesitation has real consequences, researchers from South Pole said. For one, it cuts down on the sense of competition and pressure that can drive companies to be more ambitious with their environmental targets. “If you’re hiding what you’re doing, or not talking about it in a prominent way, it can hold back others,” said George Favaloro, South Pole’s head of climate solutions for North America. The trend also could also cut down on sharing tips and tricks for decarbonizing that could help others trim their carbon emissions.

The report found that greenhushing isn’t unfolding equally across the 12 countries surveyed. American companies aren’t as quiet — likely because the United States has less regulation around environmental claims. U.S. companies were the second least likely to be greenhushing, behind Japan. European companies were on the opposite end of the scale. France, which has laws that explicitly limit greenwashing, led the pack with 82 percent of companies staying mum.

“They’re really up against it in Europe now, and in the U.S., it’s still a bit off in the future,” Favaloro said. “It’s coming, but it’s not quite here yet.” One of the first anti-greenwashing laws in the U.S. went into effect in California earlier this month, mandating that large companies disclose their emissions to back up climate-friendly claims. Lawsuits are also a growing threat: Last year, Nike and Delta Air Lines were sued for making questionable claims about their environmental impacts.

It might be surprising that U.S. companies are unafraid of communicating their climate goals considering the conservative backlash against ESG, short for “environmental, social and governance,” a set of standards investors use to assess companies. But the ESG drama has more serious consequences for asset managers like Vanguard and BlackRock, which removed references to sustainability goals on their websites last year, than for corporations.

The 1,400 companies surveyed in the South Pole report are some of the furthest along when it comes to corporate climate action. Overall, however, most companies haven’t even started yet. Only 8 percent of a broad group of 77,000 corporations, which includes global Fortune 500 companies, have set a net-zero target, the report found. “The more that even the leaders don’t talk about what they’re doing, it’s going to provide less motivation to get that group in the game,” Favaloro said.

This article originally appeared in Grist. Grist is a nonprofit, independent media organization dedicated to telling stories of climate solutions and a just future. Learn more at Grist.org

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Greenhushing, Grist, responsible brands, South Pole, 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

It’s time to put sustainability at the heart of customer experience transformation

31 01 2024

Sustainable CX transformation: both possible and essential, says Raymond Manookian of Zone / Image: Melanfolia via Unsplash

Raymond Manookian of agency Zone says that technological advancement and sustainability can go hand-in-hand, and brands can build meaningful relationships with consumers while building a better future. By Raymond Manookian | Design Director, Zone via The Drum • Reposted: January 31, 2024

The 28th Conference of the Parties to the United Nations Framework Convention on Climate Change, better known as Cop28, finished last month. It was a melting pot of ideas. Among them were unique insights and inspirations from the intersection of innovation and sustainability, which are particularly pertinent to those of us in the customer experience (CX) and digital transformation sectors.

It was clear at this meeting of global minds and ideas that environmental sustainability must be central to our future digital transformation endeavors. The conference crystallized the role of (and responsibilities within) the CX industry, providing fresh clarity on how we can move forward responsibly and sustainably.

Stakeholder and partner engagement are imperative in driving any such transformation. Inspiring a fundamental shift in mindset, where ecological sustainability is seen as just as crucial as economic growth, is critical.

Cop28 underscored that sustainability strategies must be implemented in context-specific ways, taking into consideration local cultural and environmental specifics. Companies need to adopt a flexible, adaptable approach, recognizing that solutions that work in one region may not be effective in another. To successfully navigate this variability, they should seek out diverse perspectives, engage local stakeholders, and strive to create inclusive, equitable solutions. By embracing a dynamic and context-sensitive approach, companies can develop compelling, relatable sustainability initiatives that are effective across global contexts.

Patagonia, a company renowned for its commitment to sustainability, is a prime example of how integrating sustainability into a brand can enhance its value and deepen customer loyalty. Patagonia and its peers have shown how embracing sustainability can enhance brand value and deepen customer loyalty, but this move towards sustainability is about more than just meeting consumer demand. It’s also about creating a more environmentally responsible and resilient future for all stakeholders – and a better world for future generations.

Technological advancements that benefit the environment

Better data analytics and insights have a crucial role to play in helping us to understand consumer behavior and to measure the impact of sustainability initiatives. Data is the foundation on which companies can build strategies to balance profitability with positive environmental impact. By using data to inform decision-making, companies can align their business objectives with environmental goals, creating a win-win situation for both the planet and their bottom line.

Artificial Intelligence is transitioning, too – from a mere business efficiency tool to an aid for sustainable development. While there may be concerns about the environmental costs of running AI, it’s also important to recognize its potential benefits to the environment. For example, IBM’s AI-driven weather technology assists farmers in making environmentally conscious decisions, while AI broadly has vast potential for resource management and environmental care. By leveraging AI’s capabilities responsibly and sustainably, we can harness its power to create a better future for businesses and the planet.

Building better business and a brighter future

The shift toward sustainability presents companies with an opportunity to drive positive change with CX. By embracing sustainable practices and integrating them into customer engagement strategies, companies can differentiate themselves in the marketplace and cultivate loyalty that extends beyond traditional marketing approaches.

Consumers increasingly seek brands that reflect their values. Sustainability can play a crucial role here. By demonstrating a commitment to sustainability and actively engaging customers in this journey, companies can build trust, foster a community of like-minded people, and drive long-term loyalty.

In CX and digital transformation, we’re continually evolving to reflect a deeper purpose. We’re not just creating and implementing digital solutions; we have an integral role to play in making sure technology and sustainability can harmoniously coexist. Each strategy we develop and every experience we design provides an opportunity to blend technical expertise with environmental commitment.

The insights from Cop28 underscore the importance of integrating sustainability into the foundations of our industry. We must incorporate sustainable solutions into existing practices while building a future where business success and environmental responsibility are inseparable. This requires a delicate balance between strategic foresight and practical action, with the decisions and innovations we make today laying the groundwork for a harmonious and sustainable future.

By treating sustainability as a value rather than a trend, and incorporating it into our decision-making processes and actions, the industry can demonstrate our commitment to responsible and forward-looking practices. However, the need for sustainable transformation is urgent, and the window of opportunity is narrowing. Businesses must embrace sustainability as a core value and work with stakeholders and partners to drive positive change. The time is now.

To see the original post, follow this link: https://www.thedrum.com/opinion/2024/01/30/it-s-time-put-sustainability-the-heart-customer-experience-transformation

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Tags: COP28, corporate social reponsibility, corporate social responsibility, CSR, green marketing, responsible brands, sustainable branding, sustainable brands, United Nations Framework Convention on Climate Change
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, lack of trust, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Global watchdog proposes new ethics code to combat greenwashing

31 01 2024

U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

By Simon Jessop and Huw Jones via Reuters.com • Reposted: January 31, 2023

Firms that check environmental, social and governance claims made by companies will be asked to follow a proposed new ethics code to help combat greenwashing, the chief of a global standards body told Reuters.

Trillions of dollars have flowed into investment funds touting green credentials, but these can be misleading, a practice known as greenwashing. As a result, companies are increasingly being asked to disclose more about their actions on climate change and other issues such as board diversity.

Companies in the European Union and globally from this year will have to use new, mandatory disclosures on ESG and climate-related factors in their annual reports for 2024 and onwards.

These disclosures will need checking by external auditors as a safeguard against greenwashing.

Gabriela Figueiredo Dias, chair of the International Ethics Standards Board for Accountants (IESBA), said it was proposing revisions and additions to its ethics standards for auditing sustainability information from companies.

The IESBA is an independent global body that sets ethics standards for business and other organisations.

The standards spell out best practice for verifying a company’s sustainability claims by offering detailed instructions in areas such as accounting for the impact of corporate actions on emissions, relying on outside experts, and identifying and tackling conflicts of interest.

“There is nothing more central to sustainable finance than the information that is provided to those who decide to invest or fund projects and businesses.”

Dias said the proposed standards, which will be open for public consultation until May, would complement the development of new technical assurance standards from the International Auditing and Assurance Standards Board.

“Ethics is the baseline for the whole infrastructure. If you think about… greenwashing and misinformation, (it) always has behavioural issues at its root and not technical reporting reasons.”

“It’s not because preparers and providers don’t know what they have to report and assure, it’s because there are ethical or independence issues such as conflicts of interest,” she said, for example, financial interests, pressure from client companies or their management, inducements or a lack of competence.

Global securities watchdog IOSCO has encouraged the moves by IESBA to update its standards as climate related disclosures under mandatory rules, rather than private sector guidance, are rolled out, making enforcement against greenwashing easier.

IOSCO board Chair Jean-Paul Servais said he welcomed IESBA’s action to call on issuers, investors and assurance providers to participate in the consultation.

“Trust in such disclosures will be enhanced when they receive external assurance based upon globally accepted standards regarding ethical behaviour and independence.”

IESBA said the proposed new standards could also be used by firms other than professional accountants for auditing sustainability disclosures, such as consultants, engineers or lawyers, responsible for more than half of sustainability reports.

EU rules allows non-accounting firms to audit sustainability disclosures – which will be checked to a lower standard than financial statements – to provide competition for KPMG, EY, Deloitte and PwC, dubbed the Big Four who dominate corporate auditing.

To see the original post, follow this link: https://www.reuters.com/sustainability/global-watchdog-proposes-new-ethics-code-combat-greenwashing-2024-01-29/

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, greemwashing, green marketing, International Ethics Standards Board for Accountants, 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

Language barrier: Shoppers don’t understand common green claims, survey reveals

27 01 2024

A survey of 1,000 Brits has found that most don’t understand environmental terms frequently used in business communications, such as ‘carbon offsetting’, ‘circular economy’ and ‘biodiversity’. Image: Edie. net

From Edie.net • Reposted: January 27. 2024

Nine in ten of those polled said it is important for businesses to talk to the general public about their environmental sustainability work. But the survey, conducted by Fleet Street and Trajectory Partnership, found a disconnect between the language used by businesses and that used by customers.

While three-quarters of survey respondents had heard the term ‘sustainability’ or ‘sustainable’ in relation to businesses, only a quarter felt they could confidently offer up a definition.

Most also said they did not thoroughly understand what a brand meant when it described itself, or a product, as ‘green’. ‘Eco’ and ‘conscious’ were found to have even lower levels of confidence in understanding.

An awareness-understanding gap was also found in relation to more specific terms about carbon emissions. Six in ten had seen businesses use the term ‘net-zero’, rising to almost seven in ten for ‘carbon-neutral’. Yet only 11% felt confident in their understanding of carbon offsetting, which most brands and businesses will need to use to some extent to achieve net-zero or carbon neutrality.

Among those who had seen businesses use ‘net-zero’ or ‘carbon-offsetting’, the perception of the term was only slightly positive.

Levels of awareness and understanding were even lower around the terms ‘biodiversity’, ‘traceability and ‘the circular economy’.

Fleet Street co-founder Mark Stretton said: “The lack of understanding around what many businesses would probably consider to be standard terms, such as net-zero and environmentally friendly, is striking, and indicates a level of disconnect between brands and consumers.

“Many businesses are investing very heavily in sustainability, setting ambitious objectives in the process, but there is a big piece missing; there’s massive work to be done on the language used, and the more consumers understand, the more likely they are to positively engage with, and respond to what is clearly an enormous issue.”

The circular economy conundrum

‘The circular economy’ was found to be the least well-known or meaningfully understood claim assessed in the survey. Less than one-fifth of respondents had ever seen the term used in the private sector, and only 4% felt certain of what it means.

This was despite the fact that ‘recyclable’ was the most widely recognised term, with eight in ten respondents seeing it used regularly and the majority able to offer a robust definition. Awareness and understanding was similarly high for ‘single-use plastic’.

These terms were evenly recognised and understood by those with different levels of education and income, whereas most other terms assessed were less understood by those on lower incomes and/or without a university education.

Across all demographics, people said they would feel more positively about a business communicating recyclability and a reduction in single-use plastics.

It bears noting that recycling and the circular economy are not synonyms. A truly circular economy prioritises reuse of materials in their highest possible value above recycling and, in the Ellen MacArthur Foundation’s definition, also includes the restoration of nature.

On nature, half of those polled had never seen a business use the term ‘biodiversity’, and almost nine in ten were uncertain of its definition.

To see the original post, follow this link: https://www.edie.net/language-barrier-shoppers-dont-understand-common-green-claims-survey-reveals/

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

How socially responsible companies can help conscious consumerism achieve critical mass

24 01 2024

[Photos: maytih/iStock/Getty Images Plus, Anastasiia Bid/Getty Images]

It’s time for more collaboration, more excellence, and a reframing of what conscious consumerism can mean. By Heath Shackleford vcvic Fast Company • Reposted: January 14, 2024

If you are a longtime supporter of the conscious consumerism movement, this may be the moment you’ve been waiting for. Despite growing pessimism about the state of the world, Americans are engaging socially responsible brands at an unprecedented level. It seems we are approaching critical mass, and we are on the precipice of a tipping point for “good” business.

These assertions are based on findings from the 11th annual Conscious Consumer Spending Index (#CCSIndex), a benchmarking study our agency fields each year to gauge momentum for conscious consumerism, charitable giving, and earth-friendly practices. Using a proprietary algorithm, we generate the Index score based on the importance consumers place on purchasing from socially responsible brands, the actions they’ve taken to support such brands, and whether they plan to buy more from good brands in the future. Specific questions that influence the Index score include:

How important is it for you to support socially responsible products and services?
Have you purchased products or services from socially responsible brands in the past year?
Do you plan to increase the amount you spend with socially responsible brands in the coming year?

In light of the economic, political, environmental, societal, and humanitarian crises we face as a world, it should not come as a surprise that Americans continue to feel worse about our collective future. In this year’s study, almost half (48%) of respondents said the world is getting worse. The first year we asked this question was in 2019. Only 38% had a pessimistic view at that point. (Read about last year’s results here.)

Yet in the face of this declining outlook, the ideology of supporting brands who promise to make the world better is clicking at a quickening rate. The latest #CCSIndex score is 57, up from 48 the previous year. In the inaugural year of the Index (which was 2013), the score was 45. The index is based on a 100-point scale and is fine-tuned so that even a 1-point shift indicates real movement. With that context in mind, seeing a 17% increase year over year is significant.

Here are a few things to consider for companies that are looking to capitalize on this moment:

COLLABORATION OVER COMPETITION

We’ve reached an opportunity for scale within the community of B Corporations as well as other organizations such as Conscious Capitalism and the Social Enterprise Alliance. We need to collaborate more consistently and effectively within the social responsibility space and resist the capitalistic temptation to compete with one another. Now is the time to fuel the consumer fire. We need to do that together.

COMMIT TO EXCELLENCE

We must continue to live up to our promises and deliver exceptional experiences for our customers. It should always feel different when someone engages with a socially responsible brand. Every interaction, every experience—without exception. This goes for product quality, customer service, and every point along a customer’s journey. In our data, individuals have consistently shown us that purpose alone is not enough. Brands have to first meet their needs as consumers. What if we set the expectation that the definition of a purposeful brand extends not only to the company’s mission but also to its commitment to excellence and doing all the right things for customers along the way? That’s how we build long-term loyalty with consumers and keep this train moving.

ENCOURAGE THE INTRAPRENEURS

We need to continuously apply more pressure to big brands to be part of the solution. We can do that by making conscious organizations more and more attractive for talent and for customers. We can also do that through intrapreneurs. Too often, we determine the only two paths that lead to a purposeful career are either working for a socially responsible organization or starting a new social enterprise.

There is a third, and very important, path though. We need mission-minded people climbing ladders within major corporations as well. Some big brands may eventually crumble if they don’t respond to the conscious consumer movement, but many will continue to operate, and they will always have an outsize impact on society and the environment. It is important to have changemakers embedded in these companies to help steer them toward a better future.

DEFINE THE JOURNEY

We have to position social responsibility as a journey, not a destination. This would be beneficial on a few different levels. For one, it would help consumers who are new to this to not be overwhelmed. We can reinforce that every step counts, and that every little bit helps. Not everyone is going to transform the entirety of their consumer behavior overnight. We should create a safe space where we positively reinforce progress. At the same time, positioning this as a journey also helps prevent more experienced conscious consumers from becoming complacent and feeling like they’ve reached the peak of social responsibility.

After all, being socially responsible is not just about buying the right product. It’s also about supporting nonprofits. About reducing consumption. About protecting the environment. About being an advocate for the do-good movement and recruiting others to join.

As conscious consumerism has ascended over the past decade, we’ve seen a decline in the number of Americans who are financially supporting charities. We also have seen a reduction in the percentage of individuals who are committed to earth-friendly practices such as recycling and reducing consumption. We need to continue to educate consumers and nudge them to delve deeper into this journey. There is always another step every consumer can take.

Heath Shackleford is the founder/kick starter of Good.Must.Grow. a socially responsible marketing consultancy that helps social companies and nonprofit causes succeed. To see the original post, follow this link: https://www.fastcompany.com/90987296/morgan-housel-explains-why-we-should-focus-on-the-things-that-never-change

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ESG Investing Will Have A Good Year In 2024, Despite Turmoil In The U.S.

24 01 2024

(Image credit: Aditya Vyas/Unsplash)

By Tina Casey from Triple Pundit • Reposted: January 24. 2024

Critics have raised plenty of fire and brimstone in their opposition to investments made through the lens of environmental, social and governance (ESG) principles, but most of that energy has gone to waste. The ESG movement continues to gain momentum globally, and research shows that anti-ESG laws passed in the U.S. had a limited impact. In fact, the only clear losers appear to be the very people that anti-ESG legislation ostensibly aims to protect.

ESG investing gains global momentum while facing headwinds in the U.S. in 2023

The firm Russell Investment has surveyed how the investment management industry integrates ESG principles for the past nine years. Its 2023 survey, released in October, observed “the United States remains mired in a contentious debate” over ESG. That presents a sharp contrast with global jurisdictions that have strengthened their ESG reporting mandates, most notably Canada, Europe and Australia.

The contrast is also reflected in the adoption of the Net-Zero Investment Framework, a set of guidelines to help investors align their holdings with the global push to cap temperature rise at 1.5 degrees Celsius this century. Russell found that 80 percent of the managers surveyed in Europe had already signed on, with the U.S. lagging far behind at just 20 percent.

Others including the sustainable investing asset manager Robeco also noted a growing “ESG backlash in the U.S.” in 2023.

The big question is how financial firms are handling the oppositional environment in the U.S. Some have simply decided not to use the acronym “ESG,” without actually changing how they use ESG principles. Those taking this approach include the world’s largest asset manger, BlackRock, CEO Larry Fink said at the Aspen Ideas Festival in June.

Marjella Lecourt-Alma, CEO and co-founder of the ESG and risk management platform Datamaran, has noticed a similar shift in the way clients talk about ESG. “Some of them say we watch our words a little bit. They are bringing back things like ‘corporate sustainability,’” she told TriplePundit in December.

Kris Tomasovic Nelson, senior director and head of ESG investment management for Russell Investments, agreed. “ESG factors are increasingly driving investment decisions,” he told Pensions & Investments reporter Hazel Bradford earlier this month, but “the door is open to using different terminology.”

He hastened to note that strategies at many U.S. financial firms still include ESG principles, even if companies are more careful in talking about them, and said he doesn’t see the U.S. situation impacting the global landscape. “Outside of the U.S., I don’t see any slowing of momentum,” he added.

Taking the anti-ESG bull by the horns heading into 2024

As of last year, 22 U.S. states adopted some form of “anti-ESG” legislation that seeks to limit how ESG principles can be used in investment decision-making or minimize investment in specific funds and firms, according to the law firm K&L Gates. Republican legislators in 12 different states enacted such legislation in 2023 alone, according to an S&P Global analysis. Many were “revised and weakened as they moved through the legislative process,” S&P reported, though they still have had a “chilling effect.”

In another strategy for navigating this complex landscape, some U.S. investors are taking advantage of vague language in these laws to forge ahead.

Earlier this week, for example, Financial Times reporter Will Schmitt highlighted the case of the Texas Permanent School Fund, which deployed an opening in the state’s strict anti-ESG law to put $300 million into an energy transition fund under the Macquarie Green Investment Group. The investment occurred in 2022, shortly after the Texas state comptroller published a “blacklist” of forbidden firms that included Macquarie’s energy transition solutions fund.

“The investment highlights how fiduciaries are finding ways to navigate gaps in rules designed by conservative officials to keep environmental, social and governance considerations out of public investment portfolios,” Schmitt observed.

In other states, fiduciaries are taking matters even further into their own hands. The Oklahoma Public Employees Retirement System, for example, avoided a potential loss of $10 million when its board voted to retain BlackRock and State Street as investment advisors, even though the two firms were on an anti-ESG blacklist compiled by the state treasurer, S&P reporter Karin Rives observed in an analysis published last week.

“If we thought that we could have abided by the law without hurting the pension fund, we would have done that in a heartbeat. But we have a fiduciary responsibility,” Oklahoma’s insurance commissioner, Glen Mulready, told Rives.

Some U.S. firms have also lobbied their representatives in state government for changes to proposed legislation, in hopes of preventing the worst damage.

U.S. public funds face outsized risk under anti-ESG legislation, new analyses show

Despite these workarounds, anti-ESG legislation is impacting public funds, and not in a good way. The supporters of anti-ESG legislation claim the laws are needed to protect the financial interests of pensioners and other members of the general public. However, they neglect to mention that financial firms can simply pack up and take their business out of state.

One such example occurred in Texas, where legislators passed an anti-ESG law in 2021. The new law immediately reduced competition in the municipal bond market, costing the small city of Anna an estimated $277,334 on its bond sale.

That’s just the tip of the iceberg. Texas cities could pay up to $532 million in additional intereston their bonds in less than a year under the legislation, according to an analysis from the University of Pennsylvania and the Federal Reserve Bank of Chicago.

“In Indiana, a bill to limit ESG investing could cut state pension returns by $6.7 billion over the next 10 years,” former Maryland Attorney General Brian Frosh and former Maryland State Treasurer Nancy Kopp wrote in Bloomberg last year, while the Arkansas Public Employees Retirement System risks losing $30 million to $40 million annually.

Karin Rives of S&P Global also cited an analysis by Econsult Solutions Inc., which estimates that six U.S. states could be hit with $708 million in higher borrowing costs due to anti-ESG laws impacting municipal bonds.

In the face of these swift and damaging results, it is fair to ask how legislators and other public servants could miscalculate the impact of anti-ESG laws so badly, especially when they were warned of the risk. They’re poised to lose more ground in 2024, as analysts including Thompson Reuters predict ESG will have a transformational impact on business models as more companies focus on reducing their Scope 3 supply chain emissions.

And investors will follow the money, as they always have.

Tina Casey writes frequently for TriplePundit and other websites, with a focus on military, government and corporate sustainability, clean tech research and emerging energy technologies. To see the original post, follow this link: https://www.triplepundit.com/story/2024/esg-investing-good-year/793256

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Driving Sustainable Growth Through Brand-Led Culture Change

23 01 2024

Image: Gustavo Fring

By Kristen Tetrick via Sustainable Brands • Reposted: January 23, 2024

Building a culture of sustainable living can only be achieved when brands and consumers align their efforts and take action together on the most impactful behaviors.

As we discuss often here at Sustainable Brands® (SB), brands are uniquely equipped to align business and society on the path to a flourishing future. With the rising popularity of sustainable living, demand for innovative sustainable products and services continues to increase. This reality provides brands with the opportunity to explore new business avenues and boost growth while playing an active role in shaping the future of society and our planet. By developing brand-led solutions that encourage sustainable shifts, brands can not only gain a competitive edge but also enhance their relevance, strengthen brand trust, and generate increased consumer engagement and brand love. This approach positions them at the forefront of harnessing the power of brand influence for positive change.

SB Socio-Cultural Trends Research™ shows that sustainability has become mainstream: Three years of data consistently show that 96 percent of US citizens try to behave in ways that protect the planet, its people, and its resources. This research, conducted in partnership with Ipsos, focuses on the changing drivers and behaviors of mainstream consumers at the intersection of brands and sustainable living. Consumer actions and intentions are analyzed through a selection of previously researched, defined sustainable behaviors — as well as the persistent intention-action gap. To spark brand-led cultural shifts in consumer behavior, brands must bridge the gap between what customers are already doing and brand-purpose initiatives. This means aligning their efforts more explicitly with existing intentions.

To better understand where brands can have the most impact on driving consumer behavior change, qualitative and quantitative research was conducted to consider the behaviors that brands could influence — and consumers could meaningfully act upon — to have the strongest impact on people, planet and society; these actions became the basis for the SB Nine Sustainable Behaviors™ framework. The behaviors are written to be as consumer-friendly, approachable and accessible as possible, grouped within three broad categories. They are applicable to any brand, in any industry along with any consumer, in any segment. All brands can align their sustainability and marketing strategies with at least one of these behaviors.

By demonstrating leadership around the SB Nine Sustainable Behaviors, brands can set themselves on a path that not only deepens their relevance and recognition, but also begins to transform the cultural stories shaping our shared future. Those who do it well will shine and win in the marketplace. SB research shows that US citizens view climate change as the second most critical issue to address — with 8 in 10 saying they want to take action to reduce their carbon footprint. Moreover, they want brands to support their efforts — with 85 percent saying they are loyal to brands that help them achieve a better and more balanced life. However, when it comes to measuring brand trust, consumers say that brands acting to benefit society and the planet is a stronger driver than a brand helping consumers to make environmentally conscious or socially responsible choices — they want to see companies taking responsibility: 78 percent say they support companies that act sustainably by purchasing their products or services.

The most successful brand leaders in this space understand that brand action and consumer action are two sides of the same coin. Consumers are looking to brands for sustainable solutions; and brands have the ability to lead society toward a reality where sustainable products and services are the norm in the marketplace. Building a culture of sustainable living can only be achieved when brands and consumers align their efforts and take action together on the most impactful behaviors.

Learn more with industry peers and leaders

Dive further into this nuanced topic while discovering more insights on how today’s brands can enlist consumers in building a better tomorrow at the SB Brand-led Culture Change conference — May 8-10, 2024 in Minneapolis. Unpack consumer trends; understand strategies and tactics that drive behavior change; and craft culture-changing communications through live sessions, workshops and industry forums presented by the leading brand marketers and experts from around the world.

To see the original post, follow this link: https://sustainablebrands.com/read/behavior-change/driving-sustainable-growth-brand-led-culture-change

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4 critical steps to embed sustainability into your organization

23 01 2024

Source: Shutterstock/UnImages

Integrating a sustainability strategy throughout the company can put your ESG goals on the fast track. By Shannon Houde from Greenbiz.com • Reposted: January 23, 2024

We all know that it’s not enough for sustainability teams to act in a silo. To achieve real change, an organization must embed ESG commitments across all products and teams, and draw on the efforts and engagement of everyone from the CEO to frontline staff.

Yet for so many sustainability leaders, this level of integration remains one of their biggest challenges. According to research by The Conference Board in July, just 13 percent of executives believe that sustainability is currently deeply embedded and less than half (49 percent) believe it is even moderately embedded.

Clearly, it isn’t easy to achieve.

As Niki King, vice president and head of sustainability at The Clorox Co., and formerly head of sustainability at Unilever North America, points out, “To embed sustainability there are no trade-offs, there’s not a separate stand-alone sustainability strategy. It’s all-encompassing. There has to be accountability at all levels of the organization. There need to be incentives tied to sustainability performance and all of your employees need to understand how they can play a part in helping to achieve the goals.”

In short, there are no half measures. So, for those currently working to better embed sustainability into their organizations, make sure you put the following four building blocks in place first.

1. Employee buy-in

This starts at the board level. Without buy-in from at the highest level of an organization, any effort to embed sustainability elsewhere will almost certainly fall flat, and sustainability leaders will find themselves spinning their wheels. Ultimately though, a sense of ownership over a sustainability strategy needs to come from all levels of an organization, with each employee made to feel empowered by leadership to share their ideas, provide feedback and get involved in sustainability programs. This may be achieved by way of financial incentives tied to either teams or individuals achieving ESG targets, says King.

According to research by Harvard Business Review, this sense of ownership is the most important element in embedding sustainability. It found that organizations that transformed employees from bystanders into active participants in achieving ESG goals not only ensured their teams felt empowered but also stood a far better chance of integrating those commitments successfully. At financial services company Old Mutual, for example, the sustainability chief organized a workshop for midlevel managers to demonstrate their direct impact on customers. Participants noted that they felt empowered to do far more than crunch numbers after attending, laying the foundations for wider discussions about ESG.

2. Governance

Next, ensure the right governance structures are in place to integrate accountability at all levels of the organization. At larger organizations, creating this framework may be one of the primary roles of the board, working in collaboration with a chief sustainability officer (CSO). At small and medium enterprises, ensuring the right questions are being asked regarding the management of ESG programs may fall under the remit of a sustainability leader. If so, it’s a critical part of the role. Without the right scrutiny in place, it’s too easy for sustainability strategies to fall through the cracks.

3. Strong leadership

CEOs can’t simply add sustainability to their long list of responsibilities and expect ESG programs to look after themselves. In fact, although 98 percent of CEOs say sustainability is core to their role, just 2 percent of the same organizations say their sustainability strategies succeed. That’s because CEOs need to be highly engaged with policies but also — need to delegate primary responsibility to a CSO who has the right combination of skills. These include resilience, both technical and business skills and — perhaps most important — the soft skills needed to inspire and encourage others to join them in making transformative change. Or as King puts it, leaders that know “building relationships has to be your superpower.”

4. Awareness of local context

Finally, ensure that sustainability strategies are developed with an appreciation for the local context. Often a sustainability strategy is developed by a small sustainability team at global headquarters without seeking input from the local markets. Then when the global team tries to tell the local market to adopt the strategy that it came up with, it doesn’t always resonate. Instead, organizations need to be as inclusive as possible, seeking input from local markets to ensure there’s buy-in at every level. At international consumer goods company Danone, for example, the team included country-specific roadmaps in its Climate Transition Plan, each one adapted to local market features.

The path to embedding sustainability across an organization isn’t always a straightforward one. It takes time, patience and, most likely, frustrating pushbacks. But it’s a critical component of achieving scalable change on ESG issues and — by implementing these four elements — the practitioner will see progress faster and with more support.

To see the original post, follow this link: https://www.greenbiz.com/article/4-critical-steps-embed-sustainability-your-organization

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In the Pursuit of Sustainability, Silence Is Not Golden

20 01 2024

From Sustainable Brands Media • Reposted: January 20, 2024

We caught up with TrusTrace co-founder and CEO Shameek Ghosh to discuss companies’ tendency to ‘greenhush’ to avoid scrutiny around sustainability and his advice for overwhelmed retailers.

With the constant noise of brands claiming to pursue carbon neutrality and other sustainability goals, many well-meaning retailers are left scrambling to define their own goals. Hearing such broad statements can leave brands feeling overwhelmed and frankly, inferior — and has fueled a new form of corporate miscommunication.

According to Shameek Ghosh, co-founder and CEO of supply chain traceability platform TrusTrace, “greenhushing” — disguising or downplaying sustainability efforts, in an attempt to draw attention away from a company’s sustainability failures — has become an increasingly common response to this overwhelming scenario; attempting to overhaul an entire company’s sustainability strategy all at once can lead to executives believing that it might be easier to simply not have a strategy at all.

We caught up with Ghosh to learn more about the tendency to ‘greenhush’ and his advice for overwhelmed retailers.

Can you briefly describe what ‘greenhushing’ is? How is it different from greenwashing?

Shameek Ghosh: When organizations deliberately do not talk about their ESG credentials and the things they’re doing to drive positive change, that is called “greenhushing.” Greenwashing, on the other hand, is when organizations intentionally exaggerate their ESG credentials to give an impression of having better environmental policies and impact than what is actually the case.

Why are companies and retailers turning to this strategy?

SG: In the wake of governments cracking down on greenwashing, and facing the reputational risk involved, organizations are becoming more cautious. To avoid risks of greenwashing under increased scrutiny, it is necessary to be able to back up your claims with evidence — and as this can be difficult without the right data and tracking in place, it becomes easier and safer to communicate less.

How can retailers begin defining their ESG goals?

SG: Most major retailers already have quite well-defined ESG goals, so the focus is more on ensuring that you have the data and insights to be able to deliver or — even better — overdeliver on these sustainability and responsibility promises. However, for those that have not yet started, a good place to begin is to look at the parts of the business and portfolio that have the biggest presumed impact — e.g. due to size and the social and environmental risk tied to geographies, materials, processes, etc. Once you understand size and assumed impact, it becomes easier to prioritize data collection and target setting.

What are some of the first steps that retailers can take to implement sustainable business practices once they’ve defined their goals?

SG: In order to successfully implement defined goals for sustainable business practices, retailers must first validate the assumptions that follow the goals they’ve set — this can be done by leveraging primary data. From there, they must next determine what kind of data is necessary in order to meaningfully track and improve progress. It’s crucial for both internal and external stakeholders to understand the targets they’re setting inside in order to deliver upon them. Finally, stakeholders need to have the necessary tools to empower them to deliver on targets — which can include data, tools, insights, budget and internal alignment.

What makes supply chain visibility a tangible and realistic solution for retailers?

SG: As regulations continue to make it mandatory for retailers to have detailed information about how, where, under which conditions, and with what environmental impact (i.e carbon footprint) products have been made, supply chain visibility becomes an increasingly important and realistic solution for retailers to remain compliant with mounting government mandates.

Supply chain traceability will only become more simple, tangible and impactful as more brands adopt the solution — including this as a regular business practice strengthens relationships with suppliers as well, creating an adept network across the industry. Knowledge is power, and you can’t change what you cannot measure — so, a solution that provides insights and evidence into supply chain practices is a must-have. Having granular data on what’s happening within their brand’s supply chain at your fingertips has the potential to help retailers make informed decisions about their business from all angles — not only in regards to regulatory compliance.

What should retailers know about the journey to implementing sustainable business practices?

SG: Retailers must remember that carrying out sustainable business practices is a transformational journey from start to finish. It’s going to take time and resources — and most importantly, true commitment to change. With this in mind, it’s critical that there is endorsement and prioritization from the executive level — ensuring organizational alignment, commitment and resource allocation.

When sustainable practices are properly implemented, the benefits are well worth the effort. Not only are these practices good for business and profits, but they are motivating for employees. Traceability is becoming so ubiquitous in businesses and essential sustainability efforts that people are beginning to choose roles based on whether or not the organization has a traceability program in place. Traceability is no longer a nice-to-have — it’s a must-have.

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/pursuit-sustainability-silence-not-golden

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, Green Hushing, green marketing, responsible brands, Supply Chain Traceablity, sustainability, sustainable branding, sustainable brands, TrusTrace
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Five sustainability trends businesses will embrace in 2024

20 01 2024

Submitted image

By Steve Haskew via betanews.com • Reposted: January 20, 2024

A sense of urgency to address climate change has led many businesses to commit to carbon neutrality or net-zero emissions by 2030, and many more by 2050, yet just 5 percent of the UK’s biggest companies have said how they plan to get there.

This disconnect between ambition and action is something my firm is out to solve through IT infrastructure. These are five of the biggest sustainability trends I believe businesses must pay attention to in 2024.

**Trend 1: Stress-testing Sustainability Plans**
Sustainability was high on the corporate agenda in 2023, but with heightened consumer and social pressure, new reporting standards, government regulation, and better measurement, CEOs are under immense pressure to turn their sustainability pledges into action. EY analysis recently found that while 78 percent of the UK’s largest firms have published partially developed net zero plans, just 5 percent have disclosed sufficiently detailed transition plans to become net zero.
This year, businesses will need to answer key questions on strategy and execution, translating long term-thinking on sustainability into action that begins to move the dial today. That requires more robust net-zero plans, but also increasing pressure on all parts of the business to sniff out efficiencies and take risks on innovations that could have meaningful impact.

**Trend 2: Embracing the Circular Economy**
In a circular economy, products and materials are kept in circulation through processes like maintenance, reuse, refurbishment, remanufacture, recycling, and composting. Two-thirds of companies were employing at least one circular economy principle in 2023, and that number is expected to grow significantly this year as companies face up to the reality of their climate pledges.
There are many ways a business might choose to introduce circular principles, and these will vary greatly between sectors, but IT infrastructure, and remanufacturing in particular, is one area that almost every business in the UK should be thinking about in 2024. Remanufacturing is an industrial process that converts a computer to a like-new quality in both appearance and performance by testing and replacing individual components through a rigorous process. When accredited by a third party, it provides technical certainty that the device will perform as well (if not better) than a new machine.
The environmental benefits of taking this circular route are overwhelming. Lifecycle analysis of Circular Computing laptops conducted by Cranfield University found that remanufactured laptops produce over 15 times less CO2 compared to the average new laptop. In fact, every one of its laptops entering active use, be that in the public or private sector, prevents approximately 316kg (700lb) of CO2 emissions from entering the atmosphere, 1,200kg of the Earth’s resources from being mined, and saves over 50,000 gallons of water from the industrial processes involved in making a new laptop. Sustainability is often seen as a zero-sum game by executives, but this is one area where the benefits are seen in both cost and climate, with no impact on performance.

**Trend 3: Supply Chain Management and Transparency**
Companies are used to facing criticism if they are seen to exploit people or natural resources, but now with greater focus on Scope 3 emissions, they are finding they need to pay just as much attention to where, and from whom, they source their products and services. Scope 3 emissions refer to any greenhouse gasses that an organisation is indirectly responsible for, up and down its value chain, such as in products it buys from suppliers, or those released by customers when using products or services.
As awareness of this web of interrelated climate accounting grows, scrutiny on supply chains is growing too. From media and investors to whistle-blowers and activists, calls for transparency in supply chains is encouraging businesses to be more discerning when choosing business partners, and more selective when running tenders.

**Trend 4: AI for sustainability**
AI may have been the tech buzzword for 2023, but its impact on the world is plain to see, especially in the sustainability space where it holds a huge amount of promise. From improving efficiencies in energy use and supply chains, to refining the way we collect and analyse sustainability data, this is an area where we expect to see a huge amount of innovation in 2024.
Some of the best examples for businesses include helping to develop materials that are lighter and stronger, so aircraft, delivery vans, and wind turbines consume less energy. AI is also making agriculture more sustainable by predicting weather patterns, or analysing images of crops for signs of pest, disease, or nutrition problems. Google is even using AI to make its data centres more energy efficient by predicting how small changes in process impact energy consumption in its data centres on a grand scale.
But for all the promise, there are still hurdles for AI to overcome before it is seen as a net positive for our planet. A recent study found that OpenAI’s GPT-3 produced 500 metric tons of carbon dioxide during training, and Sam Altman himself has inferred that a single request in ChatGPT can consume 100 times more energy than one Google search.

**Trend 5: Green skills training**
We’ve witnessed a boom in the number of job adverts for sustainability-related roles as business leaders come to terms with the climate crisis and look for ways to be part of the solution. This trend will continue in 2024, with an increased focus on upskilling staff across a wide range of job functions. While this is great to see, only 17 percent of companies currently offer training for green skills, and almost a third of employers admit that their staff have asked for more training. It should come as no surprise to see a new generation, marked by heightened environmental awareness, urge employers to adopt more robust and responsible sustainability practices. Businesses are far more likely to achieve their net-zero goals if the ambition comes from the top down, but the desire for change must be understood and acted on by the whole workforce to truly succeed.
**Image credit**: Olivier26/depositphotos.com

**Steve Haskew is Head of Sustainability and Social Leadership at Circular Computing, creators of the world’s first remanufactured lap**top. **To see the original post, follow this link:** ***https://betanews.com/2024/01/16/five-*****sustainability-trends-businesses-will-embrace-in-2024/**

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Demand for Green Skills Grows as Companies Strive to Achieve Sustainability Goals

20 01 2024

A People-First Green Business Transformation

From ManpowerGroup via PR Newswire Reposted: January 20, 2024

The accelerating pace of the global green transition is intensifying the competition for talent, according to new research from ManpowerGroup (NYSE: MAN). “Building Competitive Advantage with A People-First Green Business Transformation,” reveals demand for green skills significantly outstripping supply as employers work to recruit and retain qualified talent critical to achieving ambitious sustainability targets.

Based on surveys of nearly 39,000 employers and over 5,000 workers worldwide, the findings spotlight an unprecedented convergence of talent scarcity, climate urgency, and technological disruption hindering sustainability progress. With 2023 now the hottest year ever recorded, this report underscores the urgency for organizations to deliver on their environmental goals and commitments.

“As companies accelerate their sustainability efforts, it’s critical we bring people along on the journey,” said Riccardo Barberis, President, ManpowerGroup Northern Europe Region. “Investments in green technology will only get us halfway if employers fail to properly skill and reskill workers to operate in a greener future. Prioritizing workforce development must be a core pillar of net-zero strategies.”

Key findings:

Unprecedented Demand: 70% of employers are urgently recruiting or planning to recruit green talent and people with sustainability skills, with the highest demand in renewable energy, manufacturing, operations, and IT.
Widening Global Skills Gap: Despite demand, only 1 in 8 workers currently have more than one green skill, sparking an exponential shortage as companies compete for limited talent.
High Industry Demand: Energy & Utilities (81%), Information Technology (77%), Financials & Real Estate (75%), Industrials & Materials (74%), and Transport, Logistics & Automotive (73%) top the leaderboard with the highest intentions to hire green talent to meet sustainability targets.
Roadblocks Slowing Progress: Talent leaders cited finding qualified candidates (44%), creating effective reskilling programs (39%), and identifying transferable skills (36%) as the top barriers to execute green transitions.
Workforce Skepticism: While 70% of white-collar workers say they are ready to embrace the green transition, only 57% of their blue-collar peers say the same.
Gen Z Calls for Accountability: Three-quarters (75%) of Gen Z candidates research a prospective employer’s green reputation and nearly half (46%) say it will impact their likelihood of choosing a particular employer.
Generational Divide: 66% of Gen Z and 64% of Millennials believe sustainability efforts will enhance their work, compared to just 44% of Baby Boomers.

Given these results, creating a roadmap for workers to transition into high-demand green roles remains a pressing priority.

For more details on the green jobs landscape, workforce readiness perceptions, and recommendations for planning for the greening world of work, download the complete report here.

ABOUT MANPOWERGROUP
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. To see the original post, follow this link: https://www.prnewswire.com/news-releases/demand-for-green-skills-grows-as-companies-strive-to-achieve-sustainability-goals-302038170.html

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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

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

A Radical Approach to Sustainability in B2B Tech: Honesty

28 12 2023

Image: Green Queen

By Mike Maynard from Sustainable Brands • Reposted: December 28, 2023

The ostrich approach to inconvenient problems is a reason why the climate crisis exists. It’s refreshing to see a brand stand up and say, ‘This is what we’re doing. It’s tough. We can’t be perfect. But we’re working hard and this is what we’ve achieved.’

“One in 5 businesses admit to greenwashing, with half saying their sustainability efforts are failing.” So screams one headline in Business Matters. And you don’t have to be a cynic to note that little word, “admit.” The number could be higher — much higher.

This tells us a few things. One is that public pressure to be (or be seen to be) climate-conscious and climate-friendly is sufficiently great to motivate companies to lie. It also tells us that many companies are falling short with respect to sustainability; they wouldn’t have to lie otherwise. And it tells us that to some extent, greenwashing is considered if not quite acceptable then forgivable. Even when anonymous, even when giving information voluntarily, companies aren’t quite worried enough to say they’ve done nothing wrong.

This is a luxury that brands in the B2B tech space don’t have. Because in B2B tech, you frequently don’t choose products — you choose a longer relationship with a vendor by reputation. Truly proprietary tech is rare in the industry; there are usually multiple alternatives to any product you might want. So — especially when dealing with hardware — you distinguish between one vendor and another on the basis of their reputation, the strength of their brand and your relationship with them.

Moreover, brands that sell to consumers — by virtue of their position — must be seen (and demonstrated) to show they care deeply about environmental, social and governance concerns. B2B tech companies are, on the whole, less engaged with ‘purpose’ as an approach to business; but this is changing rapidly. Consumer brands are hyper-aware of how the public — and the media — can freeze out brands that don’t consider people and the planet, and want to know that the companies in their ecosystem aren’t going to make them look bad. B2B brands increasingly face the same pressures.

It’s therefore critically important that B2B tech vendors don’t expose themselves to the charge of greenwashing. They can’t bank on the fact that they’re the only creators or sellers of a certain desirable product; they won’t be. Their reputation is a major part of their business. They need to take good care of it, or the outcome could be damaging — one false claim about their climate policy and they risk sending a large chunk of their customer base to their nearest rival.

Greenhushing — deliberately underreporting or downplaying environmental performance — also won’t cut it for long. Rightly or wrongly, this kind of strategic silence or deliberate ignorance — which might seem like taking a neutral position — is increasingly being seen as a sort of lying by omission. Brands know that climate performance matters to the public. By refusing to discuss it, they avoid being attacked if it doesn’t meet the mark. But the damage has been done by scandal after scandal; and as the planet heats up, public patience for this code of silence is wearing thin. Greenhushing might be tempting — especially in a product-focused space such as B2B tech, where climate comms seem peripheral. But it’s not a long-term solution.

So, here’s a radical suggestion for B2B tech brands: Don’t greenwash and don’t greenhush. Instead, be honest. Reflect on what you’re doing and its impact. Ask yourself if you could do better. And seriously consider the trade-offs that are part and parcel of what you do. Tech supply chains are complex, often global, and frequently opaque. And they’re usually responsible for the lion’s share of a brand’s emissions. Smartphone supply chains, in particular, are notoriously bad for both people and the climate; and yet everyone uses smartphones. There is an acceptance that there are good and bad sides to tech, both in its use and manufacture. B2B tech brands need to understand how the pros and cons stack up and, ultimately, find ways to talk about that.

Companies can then say what actions they’re taking and how it’s progressing. Committing to honesty will encourage your team to be creative in becoming more sustainable. (Necessity, after all, is the mother of invention.) And ideally, B2B tech would do this as a community. To a great extent, all companies are in the same boat — so, starting a conversation means one company doesn’t have to stick its proverbial head above the trenches.

Yet, at the same time, it’s important to note that individual companies don’t have to view climate action and communication as a necessary evil — B2B tech brands stand to make real gains if they go about it the right way. Amid so much distrust regarding sustainability, honesty invites respect. It strengthens bonds with customers. And thanks to its positive effect on brand reputation, it’s good for the bottom line. In B2B tech, it could be a key competitive advantage. It’s refreshing to see a brand stand up and say, ‘This is what we’re doing. It’s tough. We can’t be perfect. But we’re working hard and this is what we’ve achieved.’ Tender evaluation forms are also following this in terms of specifying clarity on environmental claims.

Arguably, the ostrich approach to inconvenient problems is a reason why the climate crisis exists, why we now live — to quote the UN’s Antonio Guterres — in the “age of global boiling.” To mix metaphors, we kicked the can down the road. The temptation in B2B tech, as in many other industries, will be to do the same: Rather than grapple with climate action and climate comms, wait it out. Hey, everyone thinks, maybe it’ll go away. But brands will only pay a bigger price further down the line. In contrast, if they act now, talk now, and try to do it together, they stand to benefit.

Mike Maynard is Managing Director at Napier — a PR-lead, full-service marketing agency that specializes in the B2B technology sector. To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/radical-approach-sustainability-b2b-tech-honesty

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Tags: accountability, B2B Tech Brands, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, Greenhushing, Greenwashing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : 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

3 steps to secure buy-in for your sustainability strategy

23 12 2023

Source: Shutterstock/Jozef Micic

By Shannon Houde from greenbiz.com • Reposted: December 21, 2023

Gaining support from a range of stakeholders is necessary to deliver on sustainability goals and achieve scalable change.

One of the biggest challenges faced by those working in ESG is how to secure buy-in across the business for a new sustainability strategy and the policies that follow. Leading without authority is often cited as a primary obstacle for practitioners.

Gaining buy-in early and often is the most critical aspect of a sustainability leader’s core responsibilities because — no matter the level of support at the senior level — it takes cross-functional commitment to deliver real, scalable change. And those cross-functional colleagues also have to deliver on their day job, too, which will always take priority.

Those of us who are deeply embedded in this work know how ambitious sustainability goals are transformative to the way an organization operates and creates value for all of its stakeholders. But convincing every stakeholder — all the way from senior leadership to front-line staff — to add ESG deliverables to their day job is a big sticking point that requires listening skills, empathy and delicate persistence.

So, what’s the best way to achieve this cross-functional buy-in and influence without authority? Here are three critical steps to implement.

1. Find a common objective

The first step is to agree on a common vision or objective from the outset — one that adds a clear sense of value to the organization as a whole. This is especially true in roles that require engagement from external stakeholders, as Andrea Brown Smatlan, chief sustainability officer at multinational chemicals company LyondellBasell, found when consulting across sectors in her previous role as director of circular economy at the World Business Council for Sustainable Development.

“Getting that common objective at the outset is really critical,” says Smatlan. This is true whether you’re collaborating internally or across external stakeholders from the wider industry. “It can take a long time, frankly, as you’re perhaps coming up with a common objective that supports what could be 200-plus employees or 20, 30, 40 companies, each with their own business line pressures.”

Convincing every stakeholder — all the way from senior leadership to front-line staff — to add ESG deliverables to their day job is a big sticking point that requires listening skills, empathy and delicate persistence.

Another important part of this first step is to translate external ESG issues into areas of genuine business value and identify the shared opportunity for commercial benefit. Examples include working with product development and sales teams to agree on a premium for more sustainable products, or highlighting to operational teams how efficiencies can be gained through common industrywide frameworks such as the Greenhouse Gas Protocol.

2. Make the business case

The second step is to underpin this business case for progress on sustainability with robust data and analysis. This could relate to financial performance, consumer behavioral trends or policy direction. Often the most relevant types of data and insight are commitments by other companies along the value chain. This is the case with retailers or automotive companies, for example, where data shared by suppliers and manufacturers has a clear ripple effect. Other relevant areas of insight include scrutiny from investor groups and shareholder action as well as an understanding of which topics are gaining policy momentum globally, such as carbon emissions.

Marshaling external data evidence will make it far easier to encourage department heads and front-line staff across operations to deliver on ESG targets.

3. Prioritize collaboration

Finally, don’t underestimate the value of co-creation when it comes to shaping what this common business objective looks like and how it can best be executed. Doing so ensures that sustainability frameworks are viable and shared endeavors rather than policies imposed upon the rest of the business. Work across the company to figure out if a proposed business objective is achievable, how much it will cost and if it is being properly communicated through the governance structures. “Without that co-creation process, it doesn’t work in our experience,” says Smatlan.

This approach also leverages the enthusiasm of colleagues at all levels of the organization, which is often abundant if tapped into correctly. People want to feel like they’re doing the right thing, and sustainability leaders can play a critical role in making the case that there is a tangible reason, and way, to do the right thing.

Although achieving cross-functional buy-in can often feel like an uphill struggle for those working in sustainability, it is absolutely critical to delivering on the strategy. With a common vision, data to prove the business case and a collaborative co-creation process, it is more than possible to do, even without authority.

To see the original post, follow this link: https://www.greenbiz.com/article/3-steps-secure-buy-your-sustainability-strategy

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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, ESG, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

How to improve corporate sustainability communications

17 12 2023

Graphic: thesustainability.io

From Wolters Kluwer • Reposted: December 17, 2023

Trust is very important today. And perhaps one of the biggest barriers to advancing climate change policies.

According to the 2022 Edelman Trust Barometer, 60% of citizens globally don’t trust climate communications.

“Consumers, investors, activists, journalists and others are skeptical, even hostile,” according to the GreenBiz 23 Comms Summit Report. “Messages fall flat, real successes are disbelieved and communicators mute themselves — an all-too-common practice known as greenhushing.”

In an attempt to rectify this, GreenBiz brought together nearly 200 communications, legal and sustainability professionals from large companies as well as outside experts on sustainability and ESG communications.

Their goal was to devise a way of communicating company climate results to the public.

Communicating effective messages

One panel focused on promoting effective, accurate, and compelling communications that included company Legal, Communications, and Corporate Sustainability departments. They derived three main suggestions.

First, bring major company players together early and often.

They gave this example: Imagine reaching the end of a cross-functional, collaborative working group with external stakeholder input. After reviewing, the legal department decides that it wants to frame the message differently. A sustainability expert says the language is imprecise. Communications is now at a loss as to how to tell a compelling story.

This might have been averted by bringing all the essential internal groups together on day one of the project.

Second, integrate the expertise from each department and speak their language.

This necessitates being transparent. Also truly understanding the subject matter and pain points of other stakeholders. The GreenBiz panel suggests that, long before soliciting signoff from a subject matter expert, double-check the accuracy of a communication. Have resources and questions ready on an ongoing basis; don’t just “spring a problem” on someone during a meeting.

Finally, have playbooks, guides, and protocols ready.

To disseminate an effective message, the panelists suggest having all of the analysis and facts in order and be ready to stand behind them if there is a challenge. Companies need to prepare messaging playbooks, guides, and protocols for teammates to help them understand the whole picture involved in a messaging challenge.

Youth and influencers

An out-of-box way to improve sustainability communications and credibility is to engage young people and influencers in a two-way relationship, listening to their concerns and potential solutions. Producing and gearing shorter, more concise content to their needs.

Influencers are a wonderful way to reach younger audiences as members of Gen Z easily spend half their time online and are seriously concerned with the climate crisis.

According to GreenBiz, a major social media platform recently organized a training to help digital content creators, representing one billion combined daily followers, find their climate voices. Influencers are seeking partnerships with businesses and brands. But many are worried about greenwashing. Influencers have to be careful of what they post and who they post about so that they can maintain their credibility.

Their audience, with restricted attention to content, enjoy bite-size, engaging messages. Therefore, influencers often talk about work in progress, rather than overarching goals. Companies should take this into consideration when putting out press releases and communications.

Watch out for greenwashing

One of the challenges to trust has been the practice of making exaggerated or unverifiable claims about environmental benefits —greenwashing.

Regulatory challenges related to greenwashing have risen over the past several years. These include actions by the Federal Trade Commission (FTC) and U.S. state attorneys general, private litigation, and challenges by the Better Business Bureau.

There is no simple definition for the practice.

The FTC considers greenwashing through the eyes of the “reasonable consumer,” which leaves lots of room for interpretation.

According to GreenBiz, accusations of greenwashing tend to focus on one of two things: either the types of words or even the colors used to describe a product or brand, such as lawsuits charging that Keurig falsely called its coffee pods as recyclable — or the tactics used to achieve a goal, such as Bloomberg calling out companies for using renewable energy credits (RECs) toward their net zero targets.

Watchdog groups may target an industry leader, for example, that fumbles in efforts to decarbonize its supply chain, yet they leave alone competitors who haven’t even announced a similar initiative.

Because of the lack of clarity, greenwashing has largely been a result of misstatements by companies trying to address today’s need for sustainability communications without proper direction. Actual cases of misleading information are few and far between.

The Summit Report suggested several solutions:

First, one needs to know their audience. Ask, who are you targeting — consumer, investors, activists, or business partners? Each needs different information presented in a manner meaningful to them. Here, due diligence is required.

Second, provide substance and science. GreenBiz says, “Make sure to have the substance, the data and the context that matters to back up sustainability claims. Be able to explain them in basic terms, but also have the deeper details on hand. Focus on programs that are credible and grounded in science, and then remain accountable for transparency and reporting against progress. Set targeted benchmarks, then follow up.”

Finally, pressure-test externally. Before sharing any sustainability communication, one should explore third-party perspectives. The report suggests that a company should secure science-based validation to pressure-test for an array of audiences.

“Partner with communications, marketing, and engagement channels to ensure that storytelling and technical data sharing is meaningful for them. If you determine that a ‘reasonable consumer’ may have a number of different interpretations about a claim, only some of which are substantiated, then qualify or amend that claim,” the report says.

Greenhushing can be just as bad, if not worse. A company shouldn’t be afraid to speak out about credible advances and sustainability efforts. Just don’t exaggerate. Hire a sustainability communicator to help, if in doubt.

A few other pointers when trying to communicate sustainability goals and practices: Keep in mind that the crisis is affecting people today. The timeframe one’s story needs to be told is the present, not some distant time period for future generations. Be honest about not being able to deliver a perfect goal now, and share the tale of the journey toward reaching a target.

Expand the narrative beyond your organization. Broaden the messaging to bring in other groups and industries. Offer more positives than negatives. Be frank about the challenge. But also present the action or opportunity that will help improve the situation.

Together, companies can regain trust and motivate stakeholders, investors, and customers to not only believe sustainability communications, but also act upon them.

To see the original post, follow this link: https://www.wolterskluwer.com/en/expert-insights/how-to-improve-corporate-sustainability-communications

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Tags: 2022 Edelman Trust Barometer, accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands, Wolters Kluwer
Categories : Climate Change, corporate social responsibility, ESG, lack of trust, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

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

How to Build a Socially Responsible Employer Brand (and How It Can Help You Tackle Attrition)

7 12 2023

By Gloria St. Martin-Lowry from entrepreneur.com • Reposted: December 7, 2023

The world has changed. People have changed. Why shouldn’t businesses change, too?

Fact is, they should, and they should do it wholeheartedly — and soon. Employees and consumers alike expect more. And they’re making their employment and purchasing decisions based on the values that organizations demonstrate rather than just espouse.

Gen Z is leading the pack when it comes to putting corporations’ feet to the fire. Deloitte research indicates that Gen Z is motivated by purpose and a brand’s good global citizenship reputation. This only makes sense. Growing up in an era of rapid information dissemination, Gen Z was hyper-aware of global issues like climate change, social inequality and human rights abuses.

Of course, we shouldn’t assume that only Gen Z workers care about social responsibility. People of all ages and from all generations have become skeptical about companies’ corporate social responsibility efforts. They want to make sure that their employer (or future employer) isn’t just “checking the box” but is following through on promises. For instance, more than 5,000 organizations have earned Certified B Corps designations. In the future, that designation may be not just expected but standard.

But what exactly does it mean for a business to walk the walk, not just talk the talk? For some, it means investing $100 million in the brand’s Racial Equity and Justice initiative, which is focused on addressing systemic racism through educational support. For others, it means sending 7.5% of pre-tax profits back into community organizations throughout the nation, as well as championing human rights, social and economic justice, and environmental protection. For many, it means working toward 100% carbon neutrality.

However, for every positive corporate example, the opposite exists as well. More than one brand has found trouble in the last few years due to greenwashing ventures. Or maybe it’s a viral PR disaster like a failed commercial that made light of ongoing and serious national tensions. Audiences today will hold brands accountable for missteps as much as celebrate their success.

The point is that your company can’t hide behind slogans or statements. To appeal to modern workers and customers, you have to showcase your commitment to social responsibility. If you don’t, you can be sure that your competitors will be the first to call you on the carpet.

To get started, try these methods to initiate the process of folding social change into all the fibers of your corporation’s brand and culture fabric.

1. Engage your stakeholders, not just your shareholders

There’s no doubt that you have to be conscientious about your shareholders when you’re a business leader. Shareholder value has been the primary focus for companies for decades. However, sometimes corporate social responsibility conflicts with a focus on profits. Why? The simple answer is that corporate social responsibility often requires a sizable financial investment. Not always, mind you — consumers are starting to pay more for products and services backed by socially responsible companies. Nevertheless, your job is to look beyond just your shareholders and engage your stakeholders.

When I refer to stakeholders, I refer to everyone with a stake in your organization, including team members. Remember: They have a choice as to where they’re going to work. Nearly seven out of 10 professionals planned to resign in 2023. You can’t afford that kind of attrition, so you need to collaborate with your employees to build a collective vision and commitment around social change. Be aware that your team members will have different visions and different appetites for what social change means. That’s a good thing because it elicits deeper conversations and helps you get closer toward your goals.

2. Listen to what matters to people

Instead of automatically arguing or debating social points, put yourself into a “listen and learn” mode. Find out what’s really important to others. Ask questions. Why do they feel the way they do? What’s important to them? What kind of stand would they like to see you take as their employer or preferred brand? You don’t have to do everything they want, but you’ll be in a better position to make decisions if you “get” them.

After educating yourself through active, open-minded listening, you’ll be prepared to problem-solve and lead your company and team forward. By leading the charge, you can show your authentic desire to make a positive impact based on the needs and wants of your stakeholders. In other words, you’ll have a rare opportunity to demonstrate proactive leadership, innovation and creativity to the biggest societal challenges we face today.

3. Lean into major headlines and movements

When the “don’t say gay” headlines hit the front page of every major media outlet, did you consider saying anything about it as a company? Or did you shy away from the topic? Right now, employees and buyers want to know that their favorite brands care about what’s happening. You don’t have to rush into making a statement, of course. You just shouldn’t avoid creating a space for respectful dialogue and discussion about the subjects of the day.

Can these types of conversations be awkward? Absolutely, which is why I recommend turning to resources and guides to help you navigate these conversations. By enabling everyone to speak their piece, you show that you value transparency within your workplace. And transparency begets trust, credibility, and accountability — all essential for building tighter teams where people feel psychologically safe and can bring their best selves to work.

Initiating social change requires dedication, consistency and a genuine commitment to making a positive impact. Although it takes energy and investment, it’s worth every minute and penny to transform your company into one that’s seen as unfailingly socially responsible.

Gloria St. Martin-Lowry is the president of HPWP Group, a company that promotes leadership and organizational development through positivity, coaching and problem-solving. Two see the original post, follow this link: https://www.entrepreneur.com/leadership/how-to-build-a-socially-responsible-employer-brand/465758

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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, DEI, ESG, green marketing, Greenwashing, Racial Equity and Justice initiative, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : corporate social responsibility, DEI, ESG, reputation management, responsible brands, social responsibility, sustainability

Business Can’t Ignore These Unavoidable Truths at COP28

1 12 2023

Setup for Pre-COP programming began at the end of October in the United Arab Emirates. (Image: COP28 UAE/Flickr)

By Sheila Bonini via Triple Pundit • Reposted: December 1, 2023

Plummeting costs for solar and wind power. Historic government investments in clean energy and climate priorities. A rising tide of corporate leaders eager to help advance solutions and even calling for the phase-out of fossil fuels. These are just a few of the promising signs of progress as representatives begin to arrive in Dubai for COP28, the latest round of global climate negotiations.

And yet, while fresh reasons for optimism abound, we’re still not implementing solutions at the requisite scale or speed to prevent ecological and human catastrophes. The world just endured the hottest summer in 120,000 years, marked by unprecedented wildfires in such far-flung places as Canada and Maui. More recently, the popular tourist destination of Acapulco, Mexico, was devastated by a surprise Category 5 hurricane that spun up in less than 24 hours over unusually warm waters. This is the underlying reality the U.N. reaffirmed when it unveiled the first Global Stocktake report, an essential tool for measuring the world’s collective efforts — or lack thereof — against the goals of the Paris Agreement ahead of COP28.

With the stakes continuing to grow and our window of opportunity to avoid the worst effects continuing to shrink, many business leaders want a better understanding of where we stand now, why we continue to fall short of where we need to be, and what we can do to close the gap. In response, I offer two fundamental truths, from which everything else flows.

First, the climate crisis and the nature crisis are inextricably linked and mutually reinforcing. Our warming planet is unraveling ecosystems that sustain all life and undergird all economic activity. And as we lose more of the natural world, we lose critical allies in the fight against climate change. I’m talking about our forests, grasslands and peatlands, and other natural systems that slow warming by absorbing vast amounts of carbon, while also providing key resources that help us adapt to the challenges that a century of human-induced warming has already baked in for life on Earth.

The good news is that companies are waking up to the reality of these twin ecological crises. More than 6,500 companies — including 2,000 small-to-medium enterprises — are setting near-term (e.g. 2030) emissions reduction targets through the Science Based Targets Initiative. Hundreds of others are now setting even more ambitious net-zero targets for 2040 or 2050. And a growing number are taking steps to remove deforestation and other harmful impacts from their product supply chains and even going beyond that to invest in the large-scale conservation and restoration of critical terrestrial, freshwater and marine ecosystems.

Innovation bolsters their efforts. Advances in technology have made wind and solar — which helped the world avert a whopping 600 million tons of carbon emissions in 2022 alone — both affordable and scalable over the last decade, to the point where these so-called “alternative” energy sources are cheaper than gas and coal. Furthermore, research shows that investment in renewables generates three times more jobs than the same investment in the fossil fuel industry. The Clean Energy Buyers’ Alliance, which WWF helped found, reports that more than 70 gigawatts of renewable energy have been contracted by corporations since 2014.

Despite these successes, challenges loom large ahead of COP28. Our current pace in ramping up renewable capacity still lags. We need a two- to three-fold acceleration to achieve our decarbonization goals in time to avoid the worst impacts of climate change. Likewise, nature continues to retreat in the face of expansion for agriculture and development, taking with it the myriad social, economic and cultural benefits that it provides to humanity free of charge.

This brings me to my second truth: The private sector can’t do it alone. We need government action to help create the enabling conditions for change and provide ample financing to support it. Last year’s passage of the Inflation Reduction Act in the United States represented much-needed progress on both of these points. The legislation will direct nearly $369 billion into clean energy and climate-centric initiatives, with the aim of cutting U.S. GHG emissions by 40 percent by 2030.

Government can also establish frameworks for additional climate transparency, a step that 87 percent of Americans support. California’s new Climate Corporate Data Accountability Act, a potential new climate disclosure rule from the U.S. Securities and Exchange Commission, the EU directive on sustainability, and the U.K. directive on climate transition planning are indicative of this expanding frontier. Meanwhile, initiatives like the Taskforce on Nature-Related Financial Disclosures (TNFD) are helping to set a new benchmark for voluntary disclosure on nature impacts.

Business leaders should encourage more government action like this, in the U.S. and on the world stage. The recent and relatively rapid progress toward a global plastics treaty is proof that companies can leverage their collective clout to drive concerted action among the governments of the world. At COP28, and in the months and years that follow it, companies will have another opportunity to push for similar coordination around our global goals for climate and nature.

The Global Stocktake at COP28 once again underscores the need for nations to ramp up their ambitions and match their words with concrete action. It also serves as a reminder that the corporate world has both a stake in and a significant role to play in mitigating climate change and nature loss.

Companies possess the tools, insights and means to drive change. It’s about weaving sustainability into the corporate DNA — benefiting the bottom line, uplifting communities, and ensuring a clean, safe and stable future for our planet. The onus now lies with corporate leaders to amplify their efforts, collaborate efficiently and push for a world where sustainable business is simply business as usual.

TriplePundit will be in Dubai reporting from COP28. Sign up for our daily newsletter to follow along with our coverage. To see the original post, follow this link: https://www.triplepundit.com/story/2023/business-explainer-cop28/789496

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Tags: accountability, Climate Change, COP28, corporate social reponsibility, corporate social responsibility, CSR, ESG, Global Stocktake report, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, ESG, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

Socially Responsible Spending Experiencing Massive Growth

29 11 2023

Submitted image

From Good.Must.Grow • Reposted: November 29, 2023

Socially responsible spending is on the rise in a big way, based on the latest results from the Conscious Consumer Spending Index (#CCSIndex). At the same time, charitable contributions and earth-friendly practices are both regaining momentum after declines in recent years.

Conducted annually each fall since 2013, the #CCSIndex is an ongoing benchmarking study. Good.Must.Grow., a socially responsible marketing consultancy, administers the Index to gauge momentum for conscious consumerism, charitable giving and earth-friendly practices.

The Index score is calculated by evaluating the importance consumers place on purchasing from socially responsible companies, actions taken to support such products and services, and future intent to increase the amount they spend with responsible organizations. Based on the design of the Index’s algorithm, even a one-point change in overall score indicates meaningful movement of consumer sentiment.

The Index has seen major fluctuations recently. After reporting a record-low of 39 in 2020, the Index made a dramatic recovery in 2021 by posting a record-high of 51. Last year, it saw a slight decline to 48. This year, the Index raged ahead to shatter its previous peak with a score of 57. Amidst this volatility, the last three-years have resulted in a major step forward for the do good economy compared to the first three years of the Index.

“We’ve been waiting for a breakthrough, or more aptly a tipping point, with conscious consumerism, and we may be on the precipice of it with this year’s results,” said Heath Shackleford, founder of Good.Must.Grow. “This movement seems to be clicking with consumers at a quickening pace. As always, there is more work to do, but our latest findings are very encouraging, particularly in light of the economic, political, environmental, societal and humanitarian crises we continue to face as a world.”

One helpful factor spurring growth in conscious consumerism is that Americans are gaining more familiarity with key terms that describe do good brands. More than a quarter of respondents said they were familiar with the term B Corp (26%), which describes companies who aspire to a higher purpose than profit and voluntarily subject themselves to higher standards via a rigorous certification process.

This is up from 22% in 2022 and significantly improved from 2013 when only 7% of Americans were familiar with the term. Additionally, 32% recognize benefit corporation as a term, up from 25% in 2022 and 17% in 2013. Social enterprise rings a bell for almost half the country (42%), up from 34% last year and 30% in 2013. Conscious consumerism was recognized by 39% of individuals this year, compared to 34% in 2022 and 33% in 2013.

Plenty of Good News for Good Deeds in 2023

In this year’s findings, 71% of Americans felt it was important to support socially responsible brands, while 66% confirmed they had purchased do good products or services in the past year. Additionally, 42% said they planned to spend more with socially responsible companies in 2024. Not only are all of these results better than 2022, they are all record highs.

Meanwhile, other do good behaviors are on the rebound as well. The percentage of Americans who reported being green was up to 86% from 81% a year ago, while 71% of reduced consumption this year, compared to 66% in 2022. Support for charities was up across the board as well. Consumers were more likely to volunteer their time and donate goods to nonprofits this year. They also were more likely to contribute financially to charities, as 55% of survey respondents did so in 2023, compared to 52% in 2022.

Socially Responsible Spending Reaches All Time High — THIS YEAR’S INDEX SHOWS UNPRECEDENTED GROWTH IN CONSCIOUS CONSUMERISM.

Is Socially Responsible Spending Partially Cannibalizing Nonprofit Giving?

While this year’s Index shows an uptick in both socially responsible spending and charitable donations, the broader view illustrates a slightly troubling trend for the nonprofit space. The percentage of Americans who have bought goods and services from a socially responsible company have risen from 62% in 2013 to 66% this year, yet the number of individuals confirming financial donations to charities has dropped from 64% in 2013 to 55% in 2023.

In the latest results, more than half of Americans (55%) said they prefer to give back either by purchasing socially responsible products and services (25%) or through a combination of socially responsible spending and charitable donations (31%). More than 50% of individuals who prefer to give back through purchases cited convenience as the reason for their preference.

Historically, increases in the #CCSIndex score have corresponded with bumps in charitable giving as well. But in total, it seems socially responsible spending is elevating, while charitable donations are still clawing their way out of a hole. This aligns with findings from Giving USA, which reported that individual giving as a percentage of disposable income fell to a 30-year low in 2022.

“One of the dynamics we’ve watched closely since the inception of this Index is whether increases in conscious consumerism result in a positive or negative impact on financial donations to nonprofits,” said Shackleford. “It does appear that consumers view socially responsible spending as a form of giving back, and that might be influencing, to some extent, their approach to charitable contributions.”

Conscious Consumer Behaviors — CONSUMERS REPORTED RECORD HIGHS ACROSS MULTIPLE CATEGORIES THIS YEAR.

Conscious Consumers Commit to Personal Research of Socially Responsible Brands

Americans were more likely this year to leverage a range of tactics to support them in determining which products and services are socially responsible. Celebrities and personal research fueled higher Index scores among respondents, however many more individuals turned to personal research (40%) versus following the lead of celebrities (10%). People who said they read product packaging or took cues from social media, advertising, news media or friends and family produced lower Index scores.

Earth friendly practices — EARTH FRIENDLY PRACTICES ARE ON THE RISE, BUT THEY HAVEN’T FULLY REBOUNDED FROM PREVIOUS LOWS.

The World Keeps Getting Worse, and That Negatively Impacts Index Scores

For the fifth straight year, more Americans said the world is getting worse. In 2023, almost half (48 percent) of respondents thought so, compared to 45 percent in 2022, 44 percent of respondents in 2021, 42 percent in 2020 and 36 percent in 2019.

Pessimism about the state of the world comes with consequences for do good behaviors. According to this year’s findings, those who said the world was getting better had an index score of 73, while those saying it was getting worse posted an Index score of 48.

Charitable Contributions — CHARITABLE CONTRIBUTIONS ARE TRENDING UP, BUT INDIVIDUALS ARE SUPPORTING NONPROFITS LESS THAN A DECADE AGO.

Top 20 Good Company Poll

This year marked the #CCSIndex’s ninth annual top 20 “Good Company” poll, compiled by responses to the question, “What company or organization do you think of first when you think of socially responsible companies/organizations?” Based on unaided recall, organizations were ranked by how frequently they were named.

For the fifth straight year, Amazon tops the list and does so with a dominant showing. Social enterprise Bombas almost cracked the top-10 in its first appearance on the list, while TOMS returned after missing the cut in 2022. Facebook, Tesla and Johnson & Johnson find themselves excluded from the poll this year after strong performances the previous two years.

This year’s top 20 are as follows:

1. Amazon

2. Walmart

3. Goodwill

4. Salvation Army

5. Google

6. American Red Cross

7. Microsoft

8. Patagonia

9. Starbucks

10. Apple

11. Bombas

12. Target

13. Nike

14. St Jude

T- 15 Ben & Jerry’s

T-15. Habitat for Humanity

17. TOMS

18 Chick-fil-A

19. UNICEF

20. Coca Cola

About the Study

Conducted annually each fall since 2013, the #CCSIndex is an ongoing benchmarking study that gauges momentum for conscious consumerism and charitable giving. In total, 1,021 Americans were surveyed (margin of error is +/- 3%). Sampling was provided by Dynata. For more information on the Conscious Consumer Spending Index, please visit w ww.goodmustgrow.com/ccsindex.

To see the original post, follow this link: https://www.csrwire.com/press_releases/789346-socially-responsible-spending-experiencing-massive-growth-according-11th

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Tags: accountability, conscious consumers, corporate social reponsibility, corporate social responsibility, CSR, ESG, Good Company Poll, Good.Must.Grow, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, DEI, ESG, reputation management, responsible brands, social responsibility, sustainable branding, sustainable brands

Embracing Planetary Boundaries is the Secret to Business Success

24 11 2023

From rolling rivers to honeybees, the ecosystem services nature provides are crucial to business success, but many businesses fail to account for them. By doing business with planetary boundaries in mind, companies can fortify their economic resilience and outpace their peers. Image: Dmitry Grigoriev/Unsplash

By Marcial Vargas-Gonzalez via Triple Pundit • Reposted: November 24, 2023

Standard business practices have stretched far beyond planetary boundaries — placing Earth’s climate biodiversity and ecosystem services on the brink of collapse. Companies must reduce environmental impacts. It isn’t only a moral imperative — it’s essential to business survival.

Planetary boundaries are nine critical thresholds that delineate the limits of Earth’s essential functions. When the world operates within these limits, the planet functions like a well-oiled machine, benefiting businesses and the general well-being of all species. When the world operates outside those limits, there are devastating consequences — such as extreme weather events, mass extinctions, land degradation, droughts and pollution.

But it’s not all sacrifice. Bringing business operations back within planetary boundaries will unlock competitive benefits, such as increased economic resilience, reduced operational risk and an edge against competitors.

A matter of business survival, not just success

An analysis of financial disclosures found that over 200 of the world’s biggest corporations will face $1 trillion in climate change-related costs in the decades ahead. These companies also estimated $250 billion in assets may need to be written off or retired early due to high-risk location and government regulation. Other studies go even further, estimating up to $24.2 trillion in costs to the global financial sector.

While markets have not yet collapsed, there are many examples of significant business challenges related to droughts, biodiversity loss and extreme weather.

Droughts: Back in 2015, drought conditions in California contributed to a 28 percent decline in Campbell’s carrot business profit and forced Starbucks to move its water bottling operations to Pennsylvania. And last year, heatwaves and droughts in Europe resulted in steep drops in corn, sunflower and soybean yields.

As the planet warms, scientists predict droughts will become more frequent and severe. Local and federal governments will make tough decisions on who can use limited water resources, prioritizing essential services and citizens. Businesses producing non-essential goods and services will be at risk.

Extreme weather: In 2019, PG&E filed for bankruptcy due to $30 billion in liabilities from wildfires potentially caused by its power lines. Hurricanes have repeatedly devastated the tourism industry in Puerto Rico, causing hundreds of billions in damages. Due to record-high precipitation, floods in the U.S. Northeast are estimated to result in $5 billion in losses from New Jersey to Vermont this year. Businesses large and small can expect devastating liabilities, service disruptions, and loss of revenue as workforce continuity takes a hit.

Biodiversity loss: More than half of the world’s gross domestic product depends on ecosystem services, and their functional decline already costs the global economy $5 trillion a year. Food businesses are particularly strained by biodiversity loss. More than 75 percent of global food crops rely on pollinators, which are dying at rapid rates. Marine species loss from climate change and overfishing has resulted in insurmountable challenges for fisherman and the rapid decline of cod, crab and shrimp in the U.S. In Europe, Baltic fisheries are even forced to shutter operations due to regulatory pressure or just a lack of fish to catch.

Less biodiverse ecosystems are also sensitive to invasive species. Roughly 20 percent of Earth’s land and water are currently at risk, and scientists estimate the effects of invasive species have already taken a $1.3 trillion financial toll in just 40 years.

The benefits of heeding planetary boundaries

Despite the risks, many corporate leaders cite “high investment, low return” and industry competition as excuses to maintain or even increase environmental impact. But by bringing operations within planetary boundaries, companies can fortify their economic resilience and even outpace peers.

Improve economic resilience: The organic agriculture market is a great example of how alignment with planetary boundaries can increase economic resilience. Most nitrogen-based fertilizers are derived from the ammonia manufactured through natural gas. When the Russia-Ukraine war began, international sanctions on Russia caused natural gas prices to skyrocket. But due to industry standards that forbid the use of nitrogen-based fertilizers, organic producers kept costs stable while the rest of the market struggled.

As the world works to reduce the consumption of fossil-based materials, companies that are less dependent on fossil-based resources are shielded from risks posed by regulatory and inflationary challenges.

Outpace competitors: Contrary to popular belief, global studies show that the most sustainable companies are usually also the most profitable. Take Patagonia, for example: It’s one of the world’s largest and best-known outdoor apparel brands, approaching $1 billion a year in profits. Yet its “slow fashion” model helps the company align with planetary boundaries. Patagonia makes over 80 percent of its products from recycled materials, and the company’s free repair services and Worn Wear program extend the lifecycle of damaged and secondhand products.

See also the industry rise of sustainable native companies such as Veja, Native, Who Gives a Crap and Beyond Meat. These startups have embraced sustainable operations from the start and have flourished in the market both from a consumer brand perception and financial perspective, forcing traditional competitors to adapt.

Taking the first step

Humanity has an unconscious belief that it has separated itself from nature. The reality is that we are more dependent on the planet than ever before.

Discussing planetary boundaries in the boardroom starts with understanding operational dependency on nature. Start with these questions:

Which commodities or sourcing areas is the business model most dependent on?
How will climate change, biodiversity loss, and water scarcity impact key commodities or sourcing areas?
What ecosystem services (such as pollination, water purification or soil moisture) are critical to business operations?
If these ecosystem services ceased their function, how much would it affect the bottom line?
Is the company currently replacing an ecosystem service (such as diverting water to a drought-stricken area, or transporting bees to pollinate plants)? If so, how much does it cost each year?

Every company is dependent on nature in some way, but many will quickly realize they don’t have answers to these simple questions. Nature dependencies are often missing from risk evaluations.

Once identified, leaders can develop a holistic plan to address environmental impact on all operational levels. While there is no silver bullet, companies must stop working against nature and begin working within planetary boundaries. The cost of inaction far exceeds action, and nature is coming to collect.

Marcial Vargas-Gonzalez is the Global Science & Innovation Lead at sustainability consulting firm Quantis. To see the original post, follow this link: https://www.triplepundit.com/story/2023/planetary-boundaries-business-success/789131

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Tags: accountability, biodiversity, corporate social reponsibility, corporate social responsibility, CSR, Droughts, Economic resilence, ESG, Extreme Weather, green marketing, Planetary Boundaries, responsible brands, Risk Evaluations, sustainability, sustainable branding, sustainable brands
Categories : Climate Change, corporate social responsibility, ESG, 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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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, 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

Unleashing the potential of social sustainability

22 11 2023

Busy enterprise life – board of management board brainstorming. Photo: iStock

In today’s rapidly evolving business landscape, the pursuit of profit is no longer the sole factor in determining success, writes Sheryl Moore, Global Director of Sustainability, Converge Technology Solutions Corp. via Circular UK • Reposted: November 22, 2023

Today, customers are more conscious of social, economic, and environmental issues. Leaders are now tasked with ensuring their business delivers value – not only to customers and the economy – but to society as a whole.

According to research by Sprout Social, 66% of consumers who want brands to take a stand on social issues believe brands and businesses can make real and lasting change. And we’re seeing this trend increasingly infiltrate the B2B space too. According to Amazon Business’ State Of Business Procurement report, 89% of B2B buyers would be more likely to make purchases from sellers that can be easily identified as sustainably certified.

When it comes to sustainability, we sometimes only ever hear about environmental sustainability – our ongoing responsibility to reduce our carbon emissions or ambition as a country to achieve net zero. With the UK government now hoping to achieve net zero by 2050, many organisations have shifted their focus solely towards the likes of sustainable procurement, carbon offsetting, and waste reduction.

However, in reality, sustainability is about so much more than just environmental initiatives. Today, sustainable development and practises fall under the three pillars commonly referred to as ESG (Environmental, Social and Governance).

In reality, sustainability is about so much more than just environmental initiatives.

The social side of sustainability is by no means a new concept. The idea of social sustainability began to build momentum in 2012 through the UK government’s introduction of the Public Service (Social Value) Act. Since then, it has become a critical component of any successful ESG strategy, and something organisations are investing more time and resources into.

Essentially, social sustainability is about looking and planning for business changes to help cement its future. Alongside a commitment to being environmentally conscious, social sustainability involves the development of ethical supply chains, supporting the local community, and the retention and development of colleagues – as well as providing learning opportunities and equality for all.

There is a human cost to doing business, and if a business is socially sustainable, it can unlock the door to new markets, better employee engagement, new business partners and much more. Of course, the drive to achieve net zero is still an important objective for organisations across the globe. However, there needs to be an equal amount of focus on creating resilient communities, too.

According to the UN Global Compact, social sustainability should form part of an organisation’s overarching strategy, due to its direct impact on the quality of relationships with stakeholders such as shareholders, customers, and suppliers.

The first steps towards establishing social sustainability

The first step any business can take to embrace social sustainability and embed it into its ethos is to focus on its workforce. Recent years have seen buzzwords such as “quiet quitting” and “the great resignation” circulate like wildfire, so if a business wants to be seen as a force for good, it must first cultivate a culture where employee wellbeing is a core pillar of its philosophy.

This can be achieved through a variety of initiatives, such as partnering with educational institutions to deliver training and development or provide work experience and enterprise schemes to help nurture future generations.

Additionally, improving the sustainability of the supply chain can make a significant social impact by upholding high standards when it comes to issues such as fair-trade suppliers and social equity. Now more than ever, businesses must ensure their procurement is ethically sound. Investing in measures to achieve this, can bring improved supplier relations and quality for customers.

Socially responsible companies can benefit from a positive reputation in the market as a result, leading to increased business and higher demand.

Tracking and maximising impact

It’s important that businesses can monitor and track the impact of their social sustainability efforts to establish what is working and what areas need further investment.

Unlike profits or reducing CO2 emissions, tracking the impact of social sustainability initiatives can be difficult as they often consider a range of issues and metrics. Social value calculators, which capture and measure social value, can be massively beneficial here.

For example, the metrics could focus on the number of hours employees spent on environmental training or how many work experience and apprenticeship programmes were deployed to education institutions.

Through these social value calculator tools, business leaders can effectively see the monetary value of every social sustainability activity – ensuring that they are aligned with the objectives and budgets they set out for the year.

We all have a role to play in making the future more sustainable and businesses have a collective responsibility to lead by example. To be truly sustainable, organisations cannot solely focus on environmentally conscious decisions and they must also ensure they are focused on social sustainability.

By doing so, they not only help create a more sustainable world, but also future-proof their organisation for the challenges ahead, creating a workplace that the talent pool of the future can be proud to work in.

To see the original post, follow this link: https://www.circularonline.co.uk/opinions/unleashing-the-potential-of-social-sustainability/

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Tags: accountability, Circular, corporate social reponsibility, corporate social responsibility, CSR, ESG, green marketing, responsible brands, Spout Social, State Of Business Procurement repor, sustainability, sustainable branding, sustainable brands, UN Global Compact
Categories : Climate Change, corporate social responsibility, DEI, ESG, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

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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Tags: accountability, corporate social reponsibility, corporate social responsibility, CSR, Food Waste Coalition of Action, green marketing, responsible brands, sustainability, sustainable branding, sustainable brands, Waste & Resources Action Programme
Categories : Climate Change, corporate social responsibility, DEI, ESG, green marketing, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

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

Brands Can Play a Unique Role in Bridging Cultural Divides

17 11 2023

Image: Elevate

By Sonia Seung-Eun Kim via Sustainable Life Media • Reposted: November 17, 2023

As culture wars continue to heat up, companies are having second thoughts about choosing sides in divisive social issues — according to recent reporting by the Wall Street Journal. But new research suggests brands have a third option to consider.

Following the emergence of the #MeToo movement, the death of George Floyd, and the COVIDpandemic, progressives turned up the heat on companies to support marginalized communities. Since then, many brands have spoken out on everything from racial equity and LGBTQ+ rights to abortion rights, immigration and other hot-button topics. (Some companies took even more heat after putting out messages that were judged to be exploitative or tone deaf.)

Now, it seems, the pendulum has swung. The rise of conservative, anti-woke and anti-ESGsentiment means some companies fear losing customers or employees regardless of what they choose to say or do. As a result, executives are working to further mature their decision-making processes for when to weigh in on divisive issues and when to stay quiet, according to WSJ. But the article doesn’t mention another option for which brands are uniquely suited — convening discussions that help heal social division.

Testing brand influence on person-to-person interactions

Research has shown that people perceive brand preferences, like other preferences, as reflections of personal values. The assumption of shared values is likely one reason that brand communities are often considered friendly, welcoming spaces. Yet, unlike many other preferences for hobbies or activities, brands actually attract people with widely diverse demographic and psychographic characteristics.

It’s not uncommon for two people to love the same brand but disagree on social issues, which is why Columbia Business School(CBS) professor Gita Johar and I studied how brand preferences affect people’s willingness to engage in conversations about divisive issues.

In a series of tests supported by the Bernstein Center for Leadership and Ethics at CBS, we first confirmed that people do in fact assume others who share their brand preferences also share similar personal values — such as an interest in healthy living or environmentalism — even when the brands involved are not inherently activist or political. Then, we tested whether people were more likely to discuss a divisive topic if they were told their discussion partners shared their preferences for particular brands. Specifically, we found that people were more willing to discuss the pros and cons of raising the minimum wage when they were told they would be discussing it with someone who shared their preference in car brands.

This finding builds on earlier research that identified one of the biggest barriers to initiating controversial discussions is a person’s anticipation of disagreement. In other words, when people think someone is likely to disagree with them, they are generally less willing to have a conversation. Therefore, it makes sense that people who assume shared values with a fellow brand loyalist would feel more at ease discussing a potentially divisive topic with that person.

Surprisingly, though, we found this effect to be stronger than the effect of demographic similarity — even though demographic similarity (unlike brand preference) actually doescorrelate with shared social ideas; and people are generally more willing to discuss divisive topics with people of their own demographic groups.

Next, we tested whether brand-facilitated conversations could decrease the polarization of opinions — and our findings indicate they can. We asked strangers to discuss the issue of phasing out gasoline-powered cars and found that generally these conversations helped decrease differences in opinions. What is fascinating, however, is that for those who believed their conversation partners shared a brand preference (in this instance, fast food), the differences in opinions decreased even more than when they had no information about brand preferences.

Brands as bridge builders

At a time when social divisions seem deeper than ever, our research suggests brands could play an influential role in bridging the divides. Brand loyalty has the potential to overcome differences in demographic backgrounds and experiences that often keep people separated from one another.

“Many executives say quietly they are tired of being pulled into divisive topics and would prefer to avoid them,” the WSJ article states. “But many said it is unrealistic for a company to say it will never comment on a social or political matter.” It does seem unrealistic that brands can avoid engaging in today’s heated social and political landscapes, but engagement — like many social and political issues — might not be an all or nothing choice. A third option could be to create welcoming spaces that draw people out of their usual media bubbles or echo chambers to meet and gain new perspectives.

Heineken’s Worlds Apart campaign was a proof of concept for brands in this role of social bridge builders. The beer maker was praised in 2017 for showing how strangers with opposing views on climate change, transgender rights and feminism could find common ground over drinks. Now imagine what could happen if brand marketers scaled that concept with purpose among their brand communities.

The Bernstein Center for Leadership and Ethics recently published a two-page brief about the new research for interested brand practitioners.

To see the original post, follow this link: https://sustainablebrands.com/read/marketing-and-comms/brands-can-play-a-unique-role-in-bridging-cultural-divides

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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, reputation management, responsible brands, social responsibility, sustainability, sustainable branding, sustainable brands

DEI Lives to Fight Another Day

14 11 2023

People hold signs at a demonstration in 2020. This form of public protest has largely given way to a wave of quiet employee activism in support of diversity, equity and inclusion (DEI) policies across U.S. workplaces. Image: Amy Elting/Unsplash

By Tina Casey from Triple Pundit • Reposted: November 14, 2023

Advocates for corporate diversity, equity and inclusion (DEI) policies are finding support from a new wave of employee activism, in which workers deploy quiet strategies to press for progress from the bottom up. Business leaders who value a diverse workforce can learn from these creative organizers and improve their ability to attract and retain top talent from all walks of life.

The importance of institutionalizing diversity and inclusion

Diversity hiring has acquired a strong track record for delivering financial results. The well-known human resources expert Josh Bersin recently summarized the state of affairs in a 2021 white paper titled, “Elevating Equity: The Real Story of Diversity and Inclusion.”

“In fact, we won’t even debate the fact: More than 200 studies show how diversity in business leads to greater levels of innovation, customer service, employee engagement, and long-term growth,” Bersin wrote.

However, achieving and maintaining a diverse workforce is a complex task. There are no shortcuts. Bersin, for example, underscored the importance of following up diversity hiring with ongoing programs that support inclusion and employee satisfaction.

The case for managerial responsibility

Despite the informed views of Bersin and other experts, though, DEI shortcuts have become commonplace. Businesses routinely call upon vendors to conduct one-off employee training sessions, rather than making DEI programs a permanent fixture within the organization.

Although they’re popular, DEI shortcuts are known to be ineffective. For example, a widely cited 2006 study found that sporadic DEI training sessions mostly fail to change behavior or improve diversity hiring. The authors advocated for ongoing policies that are institutionalized within the company.

In particular, the team of 21 academic researchers from Harvard, MIT and other institutions emphasized that managers must be made responsible for diversity hiring. Members of the same team made a similar case in a 2018 article, in which they advocated for DEI programs that focus on managerial engagement rather than legalistic mandates.

“The antidiscrimination measures that work best are those that engage decision-makers in solving the problem themselves,” they wrote.

DEI is on the ropes, but employees still care

As Bersin noted in 2021, many businesses did hire dedicated DEI staff and increase their commitment to DEI programs after the murder of George Floyd in 2020. However, much has changed since then. One big change this year is a wave of layoffs targeting corporate DEI staff, especially within the tech sector.

Sustained, multi-level attacks on corporate ESG (environmental, social and governance) principles have also muted the willingness of companies to discuss ESG goals and related social issues.

In addition, the dramatic, attention-getting street protests that characterized employee activism during the Donald Trump administration have largely faded from the media spotlight. That has eased the pressure on corporate leaders to respond to social issues.

However, pullback on DEI policies at the top of the corporate ladder does not necessarily reflect employee sentiment. Studies show that employees continue to value DEI programs at work.

A Pew survey last spring, for example, found that 56 percent of employed adults say that DEI programs at work are mainly “a good thing. Pro-DEI sentiment is stronger among women, at 61 percent, as well as younger workers ages 18 to 29 (68 percent), and those identifying themselves as Democratic (78 percent), Black (78 percent), Asian (72 percent), or Hispanic (65 percent), the study found.

These numbers provide support for companies to continue deploying DEI policies that attract employees beyond the traditional hiring pool, and to reach out to an increasingly diverse and socially aware workforce.

DEI from the grassroots up

The Pew findings also indicate that business leaders who drop the ball on DEI may encounter pushback from their own employees. Researchers who study employee activism have in fact noticed that employees are institutionalizing DEI goals among themselves.

Greater Good Magazine, a publication of the Greater Good Science Center at the University of California – Berkeley, outlined this employee-centered trend in an October 30 article titled, “How to Keep Diversity, Equity, and Inclusion Initiatives Alive at Work.”

The authors, Columbia University professor Peter T. Coleman and University of San Francisco assistant professor Allegra Chen-Carrel, both work as DEI consultants for large employers.

In the article, they describe an emerging trend in which employees are driving the DEI conversation. “Internal activism is on the rise, with four in 10 of all employees and half of millennials reporting that they had spoken out about controversial issues at work,” they reported.

They observed employees taking lowkey pathways to foster change, such as building support networks among themselves, while managers are choosing to practice diversity hiring in the absence of strong corporate leadership.

Keeping up with the fast pace of lowkey employee activism

In their article for Greater Good, Coleman and Chen-Carrel provide employees with a toolkit for lowkey activism while urging employers to become more alert to employee issues and concerns.

Creating an opportunity for mediation is one key piece of guidance. “This can involve something as simple as offering opportunities for coworkers and managers to share their concerns by simply taking time to listen, ask questions, and acknowledge problems,” Coleman and Chen-Carrel advise.

They also take note of employee-driven, self-care strategies that could be incorporated into a company’s wellness programs, such as relaxation exercises and time for self-education on broader social issues.

For employers, affirmative action plans, diversity committees, employee surveys and other data collection methods, and annual reporting are listed among the action steps.

Further, DEI leadership requires companies to identify and change harmful corporate practices, provide more support for effective practices, adapt to change, and respond proactively to tense situations, Coleman and Chen-Carrel argue.

“When destabilizing events occur, such as scandals, mergers, leadership changes, or even wider social movements such as Black Lives Matter or #MeToo, there can be energy and momentum for organizational change,” they write.

All of this involves an investment of corporate resources. Nevertheless, the long-term payoff can be significant in terms of avoiding costly lawsuits as well as attracting top talent and building a positive brand profile.

Filling the gaps

To be clear, progress on diversity within corporate walls can only go so far. In his 2021 white paper, Bersin took note of a sharp backslide on civic governance in the U.S. since the 1970s. He cited a weakening of equal access to housing, voting rights and business opportunities among the evidence. Equal access to education and health care can also be added to the list, in light of recent decisions by the U.S. Supreme Court.

To the extent that these attacks on human and civil rights impact employees, the pressure for change in the workplace will continue to rise. Companies with active, institutionalized DEI policies are in a good position to turn that tension in a positive direction. As for companies that have pulled back on DEI, they may need to rethink their position before the tension boils over.

To see the original post, follow this link: https://www.triplepundit.com/story/2023/dei-quiet-employee-activism/787866

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

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