Sustainability: Start Here
When it comes to sustainability and my business, where do I even begin?
We get this question more often than you’d think.
We like to compare a company’s sustainability journey to planning for a road trip. Much like driving across the country, there are seemingly infinite routes you can take. The same goes for your business’ journey in sustainability. But you must start by asking yourself questions that really focus on the destination: Where do you want to end up? And if we continue with the road trip metaphor, you can’t accurately plan for your trip — or even get the directions you need, without knowing your final destination.
There are many reasons why a business may need to begin its sustainability journey, which could include the following:
Federal regulatory changes
Government mandates
Internal pressures from staff
Aspiring to a more values-conscious approach
Upmarket in the supply chain
Tighter customer regulations
Whatever your reasoning may be, each company’s journey is completely unique. This means that the solution must also be tailored to the problem at hand. While there is no “one-size-fits-all” sustainability solution, we can offer a framework that makes the global idea of sustainability manageable at every organizational scale.
Steps for a Successful Sustainability Journey
1. Determine who is riding shotgun
You’ll need to identify a champion for your sustainability journey. This person or people — sometimes referred to as a “steering committee,” does not need to know everything about sustainability, but they do need to be passionate about making a change. They will champion and guide this effort. And, hopefully, they’ll have a killer road-trip playlist on deck, too!
2. Decide where you want to end up
Where you want to end up is inherently tied to why you’re doing this work. We recommend engaging your key stakeholders with a materiality study. This is specific research designed to help you identify and understand the relative importance of specific ESG and sustainability topics to your organization. It involves looking at a variety of factors through two lenses: potential impact on your organization and importance to the stakeholders.
A materiality study helps to identify your company’s key stakeholders, inside and outside of your organization. Through surveys, conversations, and other forms of information gathering, the results of this study will bring to the surface what stakeholders care about most concerning sustainability. This will ultimately help you can point the “car” in the right direction, giving a sense of purpose and direction to your journey.
3. Determine who is coming on the trip
Now that you know what direction you’re headed in, who will be impacted along the way? What departments need to be part of the process? This could include everyone from HR to the Supply Chain, dependent on the results of your materiality study. This step helps you determine who is coming with you in the work, even if they aren’t driving the initiatives.
4. Plan your route
Now that you know the direction you’re headed in and who’s coming along for the ride, you’ll need to put pen to paper. During this step, you’ll want to build a sustainability roadmap to outline your initiatives and projects based on priority to your stakeholders and your team’s available resources.
You’ll also want to manage expectations. Often, this is not a short journey. Progress and signposting are everything to the long-term success of staying on the route.
5. Pick up a compass
You can’t manage what you don’t measure. Data collection, specifically energy data, is essential to your journey. You’ll want to make sure to build a streamlined process for collecting the data associated with your initiatives. Energy Management Systems make data accessible, accurate, and reliable across your portfolio. In short, an Excel spreadsheet won’t cut it.
6. Find yourself on the map
To know what your trend is, you need to establish a starting point. To find that star that says “You Are Here” on the map, you’ll need to develop baselines per your data. Treat these baselines as your starting point and use that data to move you along and tell the story of your progress.
7. Begin your journey
Pedal to the metal! All of that pre-work and planning has informed you of where you are, what direction you want to go in, and the best possible route to arrive at your destination. As you put along, you will want to make sure to track your progress and collect all the data you can. And keep in mind that changes and re-routing will occur, and that’s totally okay! Continuous improvement is the goal.
8. Celebrate and share your journey
This can take the form of a sustainability report, including CDP, TCFD, SBTi, and Corporate Transparency Reports. You’ll want to make sure to include all your stakeholders in your journey. Transparency builds trust with customers, investors, and employees and has the power to differentiate your company in the marketplace. Your journey is unique to your company, so be sure to celebrate!
Looking for more insights on how to get started on your sustainability journey? Watch the full recording.
Interested in more specific topics surrounding regulatory changes in the sustainability realm? Check out our free monthly webinar put on by industry experts at Foresight Management.