Enjoy this article from the SSC blog archives: While carbon emissions management and reporting tend to be the first "big picture" sustainability issues that companies tackle, water is poised to become "the next big thing" in terms of corporate sustainability risk management. As always, we're staying on top of it--culling through the best resources and guides to help our clients effectively tackle the issue. Because we love to share- and don't want to re-create the wheel- here are three articles that bring home the most important tools, concepts, and frameworks related to corporate water management. Enjoy! Every Last Drop: Water and the Sustainable Business. Got another water resource to share? Leave a comment, or talk to us on Twitter (@jenniferwoofter).
Enjoy this blog from the SSC archives: At the beginning of the year, a lot of people find themselves making long lists of things to achieve over the next 12 months. And ambitious sustainability agendas are no exception--it seems like we're always being pushed to do more, move faster, and achieve greater sustainability performance. After all -- we know that global challenges can't be solved by half-measures. Today, we're challenging the idea that you must do "better" sustainability by doing "more" sustainability-related activities. Instead, let's look at the benefits of doing less. And we'll start by reviewing an article called The Art of Adding by Taking Away by Matthew E. May, published last January in The New York Times. May begins his article with a quote from ancient Chinese philosopher Lao Tzu: “To attain knowledge, add things every day. To attain wisdom, subtract things every day. Profit comes from what is there, usefulness from what is not there.” This saying sparked something in May, who began to investigate the logic of problem solving by taking things away: "It dawned on me that I’d been looking at my problem in the wrong way. As is natural and intuitive, I had been looking at what to do, rather than what not to do. But as soon as I shifted my perspective, I was able to complete the project successfully." May finds that there are many ways to tie the "doing more by doing less" thinking into the business world:
- By removing distractions, companies can focus on what really matters.
- By searching for patterns and finding common elements, companies can spot opportunities earlier and streamline decision-making.
- By removing product features, companies can drive innovation and reach new audiences.
- Conduct a materiality assessment to identify and prioritize your (internal and external) stakeholders and what they care about. This will give you a short list of sustainability topics that are the most important, and a longer list of "nice to have" activities to tackle as time permits.
- Assess each of your existing sustainability activities against a materiality matrix. If you find that activities are falling outside of the "must have" sustainability priorities, you should consider redirecting resources to more important places.
- Develop guidelines to help you address the importance, effectiveness, and urgency of any new activities under consideration. This will keep you on the straight and narrow going forward.
Enjoy this blog from the SSC archives: The evidence that sustainability can be good for business is overwhelming. Most of the case studies, examples, and analysis that has been done show positive links between a sustainable approach to environmental and social issues, and corporate profits, Thus far, the research has been primarily focused on direct operational efficiencies (like retrofitting your office lighting to save money and reduce your carbon footprint), innovation (using biomimicry to drive new product development), and productivity (ie. more engaged employees take less sick leave). However, there hasn't been as much talk about the nexus between sustainability and risk management. And for corporations operating in complex supply chains in a globally-connected economy -- well -- effective risk management can be the difference between success and failure. Below, we take a look at three articles that shed light on why companies still struggle to incorporate sustainability into their risk management practices (and vice versa). here!
By: Alexandra Kueller Two weeks ago, we introduced the Retail Industry Leaders Association’s (RILA) brand new Retail Sustainability Management Maturity Matrix. The Matrix hopes to be a tool that will be used by sustainability executives, individual companies, and industry-wide. We also noted that while the Matrix is designed with the retail industry in mind, we think that is has a wide applicability beyond just the retail sector. Last week, we discussed the first three sectors that are featured in the Matrix. Today we are focusing on the final four of the seven sectors. Hoping to provide a more in-depth look at how RILA hopes to benchmark across the industry in terms of environmental sustainability, we are going to look at what it would take for a company to become a leader in that sector.
Retail OperationsEnvironmental sustainability extends to all aspects of a company, including their retail operations. Whether it is a store or corporate offices, a company should be putting in effort to make these areas as sustainable as possible, such as having facilities be LEED certified. Other ways to make your retail operations more "green" can include incorporating green standards for all new warehousing and participating in the ENERGY STAR program. The Retail Operations sector has three different dimensions:
- Store/Corporate Offices
- Data Center & Applications
Supply ChainSupply chain sustainability might not be the first aspect of a company's sustainability plan to come to mind, but it is no less important than any other aspect. To be a leader in the retail industry when it comes to supply chain sustainability, a company must demonstrate the reduction of environmental impact through the optimization of transportation, work closely with suppliers to help improve their sustainability metrics, and be more transparent when it comes to audit statistics (e.g., percent of non-compliant factories). The Supply Chain sector has three different dimensions:
- Supplier Engagement
- Supply Chain Transparency & Traceability
ProductsWhen someone thinks of a retail organization and sustainability, often times their first thought is "how sustainable is the product?" RILA recognizes that product sustainability is a key component in a company's overall environmental sustainability and offers some suggestions on how to be a leader when it comes to making a company's product more sustainable. Some examples are using renewable energy sources during manufacturing, offering take-back services, and designing products with a "cradle to cradle" outlook. The Products sector has three different dimensions:
- Product & Packaging Design and Development
- Owned Manufacturing/Production
- Product & Packaging End-Of-Life Stewardship
Environmental IssuesAnd finally, true environmental sustainability cannot happen if a company does not focus on the environmental issues at hand. How a company addresses these issues - energy, waste, recycling, etc. - in the context of the retail sector is telling, and some industry leaders are already paving the way. Some of these companies are implementing leading waste technologies and policies, establishing green chemistry programs that helps reduce toxins, recycling and reusing water, using alternative energies, and more. The Environmental Issues sector has four different dimensions:
- Energy & GHG Emissions
- Water & Wastewater
- Waste & Recycling
- Chemical & Toxics