Top Tips for Maintaining Sustainability and Future-Proofing Your Business

In a globalized economy, the sustainability and durability of one business, organization or government cannot be abstracted away from the environment it exists in. The effects of environmental, legislative and market shifts in one area of the world can have enormous effects elsewhere. This is part of the reason more organizations are examining their environmental, social, and governance (ESG) policies and programs.

These efforts have been bolstered by local and global programs as well as new technologies aimed at projecting out and modeling the short- and long-term effects of any changes. There has never been more data available than there is now to help organizations like yours make highly-informed steps towards sustainability. As the political, social and ecological status quo changes, organizations that are the most proactive now will be better positioned to thrive in the future.

Carefully-constructed ESG programs are not just beneficial for the organization, but for their customers, vendors and other stakeholders, who are all better-informed and empowered to make transformative decisions themselves.

Here are some critical steps you can take to maintain and enhance organizational sustainability:

Establish a Baseline and Metrics

In order to improve sustainability, you’ll need to look exactly where you stand now. You can start by looking at local industry standards, and by speaking with any internal and external stakeholders about realistic goals. This can help you devise new ways to reduce your environmental impact, drive more positive social outcomes, and push for reasonable and effective legislative support for these measures. Once you have a baseline and structure in place, you can use this as a foundation to help test and enhance your efforts.

Build Sustainability Audits and Accountability Procedures

ESG initiatives are only successful if you create a structure to track and refine their effects. Larger organizations will sometimes invest in a sustainability professional or team who can dedicate time and resources towards these specific initiatives. Smaller or less-resourced organizations sometimes work with the local government or hire third-party consultants to assist with their efforts.

The goal of these audits is not just to track efforts, but to also provide a realistic idea of where they might go in the future. They can also help you identify weak points, such as a particular vendor or product that is uniquely susceptible to disruption, and seek out alternative sources or vendors. They can even impact product and go-to-market decisions, as sustainability can sometimes involve creating more durable, long-lasting products while still maintaining profitability and growth.

Partner with Suppliers, Consultants, Partners and Governments 

The network effects of ESG are limited unless a broader effort is made to combine forces and push for changes beyond a single organization, sector, or country. As you continue your sustainability efforts, you can share updates with other organizations and dialogue with them about your goals, offering to work with them to undertake similar initiatives.

You can also establish baselines and requirements that current and new partners or vendors need to meet in order to work with you, like having a sustainability plan. These baselines allow you to form a new network of partners and vendors who are aligned with your goals, and who can refer you to other organizations with similar ESG programs.

Work with NGOs and Experts to Model Possible Future Developments 

Changes in weather patterns, impacts on biodiversity, and other ecological effects can have a major impact on logistics, supply chain durability and consistency. The same goes for political upheaval, war, as well as social changes that impact labor supply, the quality of life in different regions and so on.

Having a clear idea of these potential changes and how likely they are to happen can help you create contingencies to weather shocks, or make efforts to advocate for national and international preparedness programs. Organizations that are able to proactively diversify their investments in at-risk sectors will be better-positioned to handle the impacts of these changes.

Spread Awareness and Practice Internal and External Transparency

Transparency is critical for ESG and sustainability programs as it creates a structure of responsibility and accountability that ties your particular efforts to the conduct of every employee, from the C-suite down. It also offers social proof and reinforcement, giving customers, local governments, partners and anyone else connected to your business incentive to set their own ESG goals. Internally, it can help your staff feel a personal stake in any improvements or shortfalls, and be more invested in sustainability.

Establish Local Ties and Explore Closed Loop Systems 

Supply chain disruptions, whether they be caused by pandemics, disasters, geopolitical instability, or some other unpredictable event, are some of the most difficult challenges an organization can face. One of the ways organizations are contending with this is to establish partnerships that are less reliant on global production and which draw from the strengths of their immediate environment. Working with other stakeholders, like the local government, can help you build local productive capacity in a way that provides better outcomes for the labor market while improving supply chain resilience.

Another method is to seek out opportunities for “closed loop” systems, which are designed to recycle the inputs of a system and allow them to be reused in a way that does not require external resources. Examples of this would be industrial byproducts used to create compost to grow food, or the use of greywater to conserve potable water supply. Recycled and refurbished electronics are another example of closed-loop systems that allow second- and third-tier users to benefit from tools that no longer have an inudstrial use.

Sustainability Starts Now 

The uncertainty of the last few years has pushed many organizations to put off future planning to focus on the here-and-now. However, investing in sustainability efforts isn’t just a good idea, but essential for long-term viability.

WTCA is committed to helping organizations like yours take bold steps to ensure that they will thrive now and into the future. You can learn more on our website.