Is your sustainability strategy adding value?

The marketplace is increasingly competitive with all businesses jostling for customers’ attention. Yet some companies lazily follow the sustainability goals of their competitors or mirror what’s popular in the news or trade press. Where’s the considered thought and value in that?
In the sustainability space it’s important to stand out from the sea of all too similar approaches, promises and goals. You have to have your own identify – it’s critical.
So, it’s useful to have a reminder. A reminder of where solid business practices and integrated sustainability strategy can add value to a business and brand.
The table below outlines the five main touchpoint areas together with examples.
How many of these were you aware of and do they sit well across your company’s purpose and strategic goals?
Here’s a set for starting a conversation in-house.
| WHERE SUSTAINABILITY ADDS VALUE | ||
| ADVANTAGE | Differentiates market position | |
| Helps access new markets and customers | ||
| Initiates design, R&D and innovation | ||
| Leverages government subsidies and support | ||
| Links purpose and impact | ||
| EFFICIENCY | Minimises supply chain disruption | |
| Reduces and eliminates waste, in all its forms | ||
| Reduces operating cost | ||
| ENGAGEMENT | Attracts and retains employee talent | |
| Gains in productivity | ||
| Improves stakeholder understanding | ||
| REPUTATION | Attracts lenders and investors | |
| Builds trust and loyalty | ||
| Enhances brand image | ||
| Reduces adverse public relations and media risks | ||
| RESILIENCE | Builds in resilient investment and asset optimisation | |
| Establishes balanced cultures and stronger communities | ||
| Focused governance and decision making | ||
| Mitigates value chain risk and disruption | ||
| Proactively responsive to regulatory change | ||