A recent survey report published by SustainAbility, an international strategy consulting firm chaired by John Elkington, the father of the triple baseline, shows that although most companies claim to have integrated sustainability into their business operations, very few actually implement it effectively.
Integrating sustainable development strategies with operating models is an issue that businesses must now address. When making every decision, companies should also consider environmental and social issues, especially those related to resource scarcity and climate change. Addressing these issues early will help companies manage future risks and increase their competitiveness.
To promote the integration of sustainability strategies into business operations, a report published by SustainAbility provides five steps to help companies more effectively implement sustainability policies:
1. Practical Business Model Thinking – How to establish a business operation model to generate a consensus on corporate value;
2. Substantive Issue Identification Application – Develop implementation strategies for the substantive issues that enterprises must face and link them to core corporate activities;
3. Examining products and services from a sustainability perspective – making decisions based on the product and service lifecycle concept;
4. Integrating Corporate Culture – Exploring how to use corporate culture to drive sustainable development outcomes;
5. Information Transparency Application – By disclosing information in integrated corporate social responsibility reports, companies can demonstrate their commitment to sustainable operations.
SustainAbility has also launched The Transparency Advancement Tool, an online tool to enhance the transparency of corporate social responsibility reports. This tool aims to help companies reduce the manpower and time spent on report writing each year and produce a simple, easy-to-read, and concise corporate sustainability performance report.
Sources:Environmental Leader (2015-12-17) (Compiled by PIDC)
