This is the new message from global community ‘Sustainable Brands’ in a new white paper, accumulating several years’ worth of discussion between businesses, NGOs and academics. Businesses must re-evaluate how to ingrain sustainability into strategy and moreover how to measure it.
The paper called ‘Redefining Value; The New Metrics of Sustainable Business’ provides the rationale behind the need for metrics that more accurately reflect 21st century challenges with regards to the environment.
KoAnn Vikoren Skrzyniarz, founder of Sustainable Brands said: “As the adage goes, what gets measured, gets managed… our goal in hosting the ‘New Metrics’ dialogue is to explore these new forms of yet intangible costs and forms of value creation, and put forward some of the most progressive work being done to capture and manage these critical [sustainability] business variables.”
The document cites a number of companies who are already making great strides in this area, and leading the business world when it comes to finding one’s feet in terms of sustainable strategizing.
Hewlett Packard has been measuring environmental impact in the supply chain transparently for some time after overcoming initial fears about sharing supplier lists. Procter and Gamble created a supply chain scorecard which will be used in the near future to aide procurement decisions and Jones Lang LaSalle embarked on a project to demonstrate the importance of sustainability to CFOs.
As said by Gregory Larkin at Bloomberg in the white paper: ““If you can demonstrate that your environmental program is taking revenue from companies with a lesser commitment to sustainability, they’ll pay attention. You need to be able to show that what you’re doing will make everyone who’s come before you look antiquated quickly.”
August 7th, 2013