How to create your organization’s sustainability program
HAvINg a sustainability program is not just a nice-to-have for companies, big or small. These days it has become a requirement for greater efficiency, acceptance and loyalty of customers, a more positive image and effective PR, satisfaction of employees and stakeholders, among other things.
Businesses are more serious about matters like their carbon footprint and the environmental costs of their operations. They do realize it is actually more profitable now to be sustainable than to keep on doing what everyone has been accustomed to. This movement has taken flight many years ago in other countries. In the Philippines, expectedly, we are beginning late and the efforts are only starting to build up now.
Statistics show that a sustainability
program can improve profits by 51 percent to 81 percent within three to five years. If there are no changes made toward social responsibility, profits are likely to decrease by 16 percent to 36 percent.
Running or implementing such a program is going to change almost every aspect of business. It changes the way things are done and there will be additional tasks or steps that may be quite tedious at the beginning, like detailed monitoring efforts and regular reporting.
Another challenge would be getting everyone’s buy-in. For people to actually embrace the new systems and processes, there needs to be a change in mindset and, ultimately, some change of heart. This is easier said than done, as we all know. But the hard truth is that the efforts toward sustainability cannot merely happen on the corporate level but should cascade down to affect every individual’s life and habits.
Once there is a buy-in, an organization can go ahead and form a team, headed by a suitable leader or an experienced consultant. This team will be setting the sustainability goals, engagement strategies, process establishment, measurement and analysis of results. An important initial work is defining baselines. This means current operations need to be measured.
When baselines are established, only then can the group design the strategy. This includes the setting of VMGs. Naturally, what follows would be the discussion (and eventual decision) on possible strategies and initiatives to be able to achieve the goals that were set. These initiatives must be specific, realistic and measurable.
Finally, when the plans are all laid out, it is crucial to involve everyone in the program. Understand that there is a bigger chance for your program to succeed when stakeholders are engaged from beginning to end.
If you wish to learn more about setting up a sustainability program and strategy for your company, the Institute of Corporate Directors is holding a Sustainability Strategy and Reporting seminar on November 26 and 27 in Makati City. Visit their web site if you’re interested to attend.
Statistics show that a sustainability program can improve profits by 51 percent to 81 percent within three to five years. If there are no changes made toward social responsibility, profits are likely to decrease by 16 percent to 36 percent.