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As sustainable business models and ESG factors get momentum, a myriad of policies, frameworks, standards, and metrics are being developed to help companies to start their sustainability journey. It is just a matter of identifying which ones are the most suitable for your particular situation and level of ambition. In the likely event of getting confused, be humble, acknowledge your limitations, get trained and ask for help. Attitude and willingness are everything.
The following are a few steps companies could consider taking if they intend to be competitive for the decades to come while keeping employees exultant, customers loyal, and our planet immaculate.
• Know your situation, be curious about what others are doing, and be aware of the legislation that is about to come out. It will help you to avoid drastic changes, potential penalties or even to lose your license to operate.
• Revisit your mission and vision to become a purpose-led company. Doing good and doing well must go hand in hand. Embedding sustainability holds a moral mandate and a business imperative.
• Gather reliable data to measure your progress and amend whatever is not working the way you expected. There are numerous tools, both paid and free, that can guide you which direction to take. For instance, the B (Corp) Impact Assessment questionnaire and the GRI Standards can help you do that and are excellent exercises of accountability your investors and customers will appreciate. Getting ISO-certified is always a good idea, and it is worldwide recognised.
• Involve everyone at your company. Create interdepartmental green teams and reward champions; sustainability permeates every function of your business. Invite and listen to as many stakeholders as you can, not only shareholders. They hold the key to a bright future.