Is your strategy sustainable?
HLB Sustainability Report 2021
A three-step framework to develop your sustainability strategy
From the obvious physical effects of climate change such as extreme weather conditions and resource scarcity, to regulatory changes and compliance, and increased demand for sustainability from consumers: the climate crisis has a clear and direct impact on business and business costs. Our new sustainability report “Is your strategy sustainable?” outlines a three-step roadmap to help businesses develop their sustainability strategy and explores the technologies that can help at each stage.
How do you reroute your business strategy towards sustainability and eventual de-carbonisation? Start with small but decisive actions and follow our three-step roadmap.
- Step one –taking a snapshot of your baseline
- Step two – targeting a sustainable business model
- Step three – monitoring and reporting to realise a sustainable vision
Within each step of the journey we’ve highlighted some practical actions you can take to support new strategic objectives, as well as boosting your bottom line. The report also includes key sustainability and technology questions to help you understand your starting point, transform and reshape your business, and measure and report on progress to stay on track.
Start your journey towards a long-term, sustainable business model
Understand your starting point. What imprint does your business leave today and how will it contribute to your future operations? Once you understand your starting point, you can re-assess what’s required to reach new milestones:
– Carry out a materiality assessment.
– Use a carbon calculator to find your business imprint.
– Perform risk mapping and review of the risk register.
– Set target outcomes and milestones.
A journey towards sustainability presents an array of opportunities to reshape your business towards a new ideal and tap into emerging opportunities for innovation and growth:
– Assess opportunities for sustainable procurement and sourcing.
– Seek better logistics and distribution opportunities.
– Look into leaner manufacturing practices.
– Consider aspects of circular economy.
– Reduce waste and redundancies.
– Explore new product and service offerings.
What gets measured gets done. Treat sustainability and CSR reporting as an investigative opportunity for uncovering new levers, rather than ‘checkbox’ activity. Employ new reporting standards to stay compliant and continue strategic business realignment:
– Consolidate and collect CSR data.
– Select the optimal tools and reporting frameworks.
– Review government incentives to accelerate change.
– Monitor the regulatory changes.
This market transition is a perfect opportunity to start your journey towards a long-term, sustainable business. Resetting your strategic objectives around a refreshed purpose provides a compass for everything you do. And, a sustainable business will be a profitable business that will be around in the long-term. Regardless of your size, HLB teams across the network can help you to draw up your baseline, establish a more sustainable business model and monitor, report and deliver your vision.