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The Best Intentions of C-Suite On Corporate Sustainability -- Results in Are In With Sharing of Bain & Co Survey This is not encouraging: the respected management consulting company Bain & Company surveyed the leaders of 300 companies engaged in "sustainability transformation" and conducted interviews with heads of sustainability recognized for outstanding results. The question: What are the results of instituting sustainable a top priority? The answer: Alas, not really encouraging for stakeholders, says Bain & Company. There's an important "but" here with tips for CEOs and C-suite on how to overcome the odds of losing forward momentum in corporate sustainability efforts. The management consulting firm published the results of its research in: "Achieving Breakthrough Results in Sustainability." This effort found that for the 300 companies, only two percent (2%) of their corporate sustainability programs achieved or exceeded their aims when compared to the companies' other transformation programs (which had a 12% success rate). There are "change traps" that keep companies from reaching their goals. Key quote: “Too often, sustainability gets stuck in first gear, while the need for change is accelerating,” said Jenny Davis-Peccoud, who leads Bain’s Sustainability & Corporate Responsibility practice. “Once companies learn to navigate common roadblocks, they open the door to a transformational journeyand the potential to leave a legacy,prompting companies to redefine what it means to be a leader in their industry.” We see this in our analysis of corporate sustainability reporting as the Global Reporting Initiative data partners for the United States, United Kingdom and Republic of Ireland. The corporate leaders in sustainability have made "the journey" an integral part of strategy-setting, operations, marketing, employee motivation, stakeholder (including investor) engagement, and incentivizing internal behaviors. The "leaders" and "laggards" in sectors and industry categories self-identify through their reporting on achieved progress (and stalled progress is also apparent). For 2016 our analysts reviewed more than 1,500 corporate sustainability / responsibility / environmental progress / citizenship reports published by companies and databased key characteristics, data sets, achievements, and more. This intelligence is leveraged in our client services, shared research and teaching programs. One of the issues Bain found in its survey effort and conversations with managers is that the rank and file employees do not see sustainability as a business imperative -- even though those at the top of the organization understand that enhancing the firm's "public reputation" is a key driver for sustainability change. Two important factors emerged from the Bain effort: Less than 1/4 of the firms surveyed said employees were held accountable for sustainability through incentives; and, there was a lack of resources as well as competing priorities to deal with. G&A Institute analysts look for the winning characteristics that overcome these obstacles in their report analysis. G&A has designed a series of tools and services to help companies engage more effectively with their employees on sustainability goals and initiatives that is proving to be very successful among our clients. Please let us know if you'd like to set up a call to discuss how we can help your company. Among the four tips for CEOs and corporate leadership from Bain: "Highlight the Business Case." (Helping to make the case: for brand marketers, those with a demonstrated commitment to sustainability grew four times faster than their peers in 2015, according to the Nielsen Global Corporate Responsibility Report.) There's more in the Top Story this week, along with information on requesting a copy of the report from Bain & Company. Inc.
Top Story Corner Office Sustainability Passions Get Trapped at the Top: Why 98 Percent of Companies Do Not Achieve Their Sustainability Goals
Sustainability in Focus Morningstar Launches Sustainability Ratings for Investment Managers Fund manager Q&A: A broader view of sustainable investing Green Building and Sustainability Sustaining university sustainability Demystifying sustainability. Why is it important for your family business? Source: GreenBiz - In business school, the classmates who stood out fell into three categories: investors; combiners; and entrepreneurs. Visionary investors could see what capital owners needed and when they needed it. Visionary combiners could see... Source: Advanced Manufacturing - Broadly speaking, the lean approach revolves around reducing waste while increasing quality (less is more). But to help break it down, I listed the three lean practices that are most supportive of sustainability Source: Sustainable Brands - Think tank SustainAbility has released its 2017 trend report, which highlights 10 issues that are expected to have the greatest influence over sustainability in the upcoming year and their implications for the private sector. Making Sustainability a Business Advantage Here's why worker safety is a sustainability essential BizVibe Textile and Apparel News: The Rise of Sustainability in the Textiles Industry
We are destroying rainforests so quickly they may be gone in 100 years Solar-energy jobs are growing 12 times as fast as the US economy ‘Brexit’ Talks Can’t Start Without Parliament, U.K. Supreme Court Rules Papa John's CEO says executive salaries are 'immoral' and give corporate America a bad name
Asset Managers, US Pension Funds, Sovereign Wealth Funds Harvard Endowment Shifts Investment Strategy, Cuts Half Its Staff New York Pension Fund joins multi-billion-dollar international investors to reduce carbon footprint Prices Are Impacting Sovereign Wealth Funds">How Falling Oil Prices Are Impacting Sovereign Wealth Funds
The Trump Transition -- And Potential Impacts on Sustainability Top 10 U.S. sanctuary cities face roughly $2.27 billion in cuts by Trump policy Trump preparing review of Paris deal, other treaties: report Donald Trump tells Detroit auto CEOs that environmental regulations are ‘out of control’ Trump to CEOs: Stay here, and I’ll wipe out 75 percent of regulations, fast-track factories |
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G&A Institute Sustainability Update™ The 100 Most Sustainable Global Companies According to Corporate Knight Analysis _________________________________________ _________________________________________
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G&A Institute is the exclusive Data Partner for the Global Reporting Initiative's (GRI) in the USA, UK and Republic of Ireland. We identify, receive, collect, analyze, database, and communicate about every report issued in any of the 3 countries. Over the past 6+ years, G&A analyzed 6,000-plus sustainability reports in this pro bono role and databased 100+ important data points for each report.
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The Sustainability Highlights eNewsletter is prepared by Governance & Accountability Institute, Inc. based on continuous monitoring of trends and developments in Sustainability and ESG. Governance & Accountability Instiute is the “Sustainability Headquarters™” for clients in the corporate, investment, public and social sectors. Based in New York, G&A is a for-profit consulting organization providing a range of value-added strategies, services and resources related to ESG & sustainability to clients in the corporate and capital markets communities.For G&A's full range of services, click on each of the links below: For more information, contact Governance & Accountability Institute, Inc. | ||||||||||||||||||||||||||
