24hoursworld

Sustainability: the greatest value of companies

Sustainability: the greatest value of companies

The sustainability has gone from being a peripheral concept to becoming a primary factor for success business. The corporate leaders have awakened to the crucial importance of integrating sustainable practices into the core of their strategies and operations.

Such change is not only vital to address pressing environmental and social challenges, but also to drive growth, profitability and competitive resilience.

The role of CEOs in sustainability

A study of Accenture and the United Nations with more than 2,600 CEOs of 128 countries revealed that 98% of CEOs consider that Your role is to make your company more sustainable.

CEOs are introducing real changes, such as increase R&D funding for sustainable innovation, improve the visibility of social impacts in the value chain and reduce scope 3 emissions.

main sustainability.png

Although most CEOs support sustainability, turning good intentions into meaningful action is a challenge. Only 7% of large companies that have set net zero emissions goals by 2050 They are on their way to achieving them.

In the past, many companies approached sustainability in isolation, through disconnected initiatives. However, this fragmented approach is no longer sufficient. To achieve a significant impact and take advantage of all the benefits that sustainability offers, it is essential to integrate it into the DNA of the organization.

Embed sustainability in business DNA

Embedding sustainability involves designing models, processes and activities with sustainable criteria from their conception. This requires a fundamental change in business mentality: everything new that is implemented must be sustainable from the beginning. It’s not about doing things differently, but about doing things differently.

Companies that have adopted this comprehensive approach are reaping tangible results, such as cost reduction, better risk management, and generation of competitive advantages.

Between 2013 and 2020, companies with solid performance in environmental aspectssocial and governance (ESG) companies achieved 2.6 times higher shareholder returns and 4.7 times higher operating margins than those without a defined strategy.

human resources companies

freepik.es

The role of technology and innovation

The technology is a key enabler to embed sustainability, from engineering solutions such as carbon capture, to ESG data monitoring and analysis, accelerating innovation in products and services.

Furthermore, it is essential to create a diverse and inclusive culture that empowers people to become sustainable innovators, adopting new processes, technologies and ways of working.

Regulations and competitive advantage

As regulations around sustainability intensify, especially in Europe, companies must anticipate and seize this opportunity to reinvent themselves. Embedding sustainability will not only allow you to comply with regulations, but also generate a lasting competitive advantage.

technology.jpg

Pixabay

Making sustainability more human

The “Our Human Moment” report highlights that, although 96% of people want sustainability to be part of their lives, only 25% of companies encourage them to take sustainable measures. Organizations have focused on making humans more sustainable, rather than making sustainability more human.

The study presents six “life-centered archetypes” that capture people’s different worldviews and relationships to sustainable living: Detached Fatalism, Uncertain Skepticism, Discouraged Altruism, Selfish Idealism, Determined Pragmatism, and Diligent Optimism.

Understanding these archetypes can help organizations drive sustainable transitions in several ways:

  • Model and segment audiences to increase relevance.
  • Communicate in more attractive ways that connect with all archetypes.
  • Discover new directions for sustainable innovation.
  • Unite internal colleagues around a shared understanding of sustainability.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts