We can give you 9 reasons in less than 5 minutes!
Better risk management and ability to address change
Sustainability management will help you better anticipate and manage the wide range of risks that your company is confronted with. Risks are generally very dependent on your type of activity and sector; in this case it goes beyond. Having a good understanding of your impacts as a company will highlight all the risks you are taking, making it easier for you to address them. Having well identified your risks will enhance your ability to address change.
Improved reputation management
You are working with a purpose and a well-established set of values. You are who you are and you work for it constantly and coherently every day. This makes you trustworthy. When your people (customers, suppliers, investors, community, etc.) feel they can trust you, they will stay with you. Long-term relations are the best way to measure your reputation.
One of the main business benefits of sustainability is higher engagement levels from your employees. Better understanding of what they want, what they expect and why they will stay. Your staff is your greatest asset, keeping them motivated and trained will make the best version of your company come to life.
Access to innovation, competitiveness and market positioning
By having open dialogue with your stakeholders you will have a better understanding of their needs and expectations. Knowing what they know and expect will give you the advantage of access to information. With this knowledge you can better adapt and improve in order to earn higher competitiveness and market positioning. In order to innovate you have to have a great team and a lot of valuable information.
Operational efficiency and cost savings
Revising your production channels to assure you are operating in the least impactful way according to law and best practices will not only have a positive impact in your cost savings but also with your future activity. Operating sustainability will guarantee you stay in business.
Efficient supply chains
CSR will help you improve your ability to both attract and develop effective and efficient relationships with your suppliers. Without them your business would probably not work and the way they deliver has an impact in the way you will deliver. Open communication and take action to evaluate their performance.
Addressing the community where you operate and getting to know up to what extent you affect or influence in them will give you a more robust social license. Social license generally refers to a local community’s acceptance or approval of a company’s project or ongoing presence in an area. It is increasingly recognized by various stakeholders and communities as a prerequisite to development.
Access to capital and investors
Investors are more and more interested in companies that work for a clear purpose that will help the world to be a better place, companies that are responsible with society and the environment. Check out FTSE4good index series to have a view of what is available for companies.
Contributing to a better world
By implementing Sustainability you are assuming your part of responsibility and taking action, you are contributing to international challenges and picking a side.