Sustainability
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Sustainability encourages businesses to frame decisions in terms of environmental, social, and human impact for the long-term, rather than on short-term gains such as next quarter's earnings report. It influences them to consider more factors than simply the immediate profit or loss involved. Increasingly, companies have issued sustainability goals such as commitment to zero-waste packaging by a certain year, or to reduce overall emissions by a certain percentage. These companies can achieve their sustainable needs by cutting emissions, lowering their energy usage, sourcing products from fair-trade organizations, and ensuring their physical waste is disposed of properly and with as small of a carbon footprint as possible.
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Sustainability
- 1. SUSTAINABILITY Dr Emmanuel Daniel Faculty of Social Work
- 2. Synopsis ■ Brief outlook on Sustainability ■ Defining True Sustainability ■ Two Views of Corporate Sustainability ■ A Transition Pathway ■ Sustainability Dialects ■ Why Sustainability Ratings Matter 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 2
- 3. Source- https://www.youtube.com/watch?v=_5r4loXPyx8 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 3
- 4. Defining True Sustainability ■ Corporate priority ■ Advancing sustainability ■ Prioritize material issues ■ Explore business model innovation ■ Companies perspective of sustainability 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 4 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 5. Two Views of Corporate Sustainability Triple Bottom Line The Embedded View 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 5 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 6. Two Views of Corporate Sustainability ■ TBL is based on an integrated view of sustainability ■ three dimensions are equally important ■ No link between company performance and TBL ■ Explicit connections between company’s performance and its place in the wider world ■ Companies as existing within society, which itself exists within the natural environment ■ A sustainable company must operate within economic, environmental, & social thresholds ■ Sustainable Development Goals 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 6 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 7. A Transition Pathway Thresholds are best set through multistakeholder initiatives (MSIs) Sustainable companies employ both incremental and radical innovation The pathway to true sustainability is nonlinear Companies widely influence sustainability 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 7 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 8. Thresholds are best set through multistakeholder initiatives (MSIs) ■ Relevant thresholds must be identified and translated to the company level ■ Setting thresholds through judgment ■ institutionalize thresholds 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 8 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 9. Sustainable companies employ both incremental and radical innovation ■ May undergo a change in their products, processes, and business models ■ Incremental innovation improves performance through changes ■ leading towards substantial improvement ■ Radical innovation focuses on doing things differently 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 9 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 10. The pathway to true sustainability is nonlinear ■ Pathway varies by company ■ Starts and ends in different positions ■ Different paces of change ■ Progress depends on market, technological, and regulatory factors ■ Companies must set aggressive, attainable targets 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 10 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 11. Companies widely influence sustainability ■ Focus on direct control ■ To consider their broader influence ■ Company’s products matter ■ Sourcing from sustainable suppliers 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 11 Source- https://sloanreview.mit.edu/article/defining-true-sustainability/
- 12. Sustainability Dialects ■ Discovering sustainability ■ Engaging with external stakeholders ■ Navigating diverse meanings ■ Communicating effectively to the team ■ Corporate sustainability goals into the local functional discussions & thinking ■ Adding corporate sustainability training into the on-boarding process ■ Ensure that employees are engaged with sustainability from day one 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 12 Source- https://sloanreview.mit.edu/article/sustainability-dialects/
- 13. Why Sustainability Ratings Matter ■ Ratings are ubiquitous feature of international commerce ■ Credibility ■ Transparency ■ Benchmarking ■ Driving improvement ■ Quality of sustainability strategy ■ Attracting capital providers ■ Resilience ■ Value stream Source- https://sloanreview.mit.edu/article/why-sustainability-ratings-matter/ 06-08-2020 Dr Emmanuel Daniel- Faculty of SocialWork 13