Ireland has made positive strides in sustainable tourism in the last decade, including the development of a globally recognized tourism eco-certification program and the Wild Atlantic Way touring route filled with agritourism food trails, naturalist-guided adventure activities and environmentally conscious boutique hotels.
Led by Val Fishman, VP of Corporate Partnerships for the Bonneville Environmental Foundation (BEF), this panel congregated some of the most influential organizations that are driving change and collaboration within water stewardship. It also congregated a full room, which is not surprising considering that water scarcity has been pushed under the spotlight, having been named this year's top global risk by the World Economic Forum.
Geoff Kendall, co-founder and CEO of the Future-Fit Foundation, set the stage by calling into question most of the existing sustainability performance metrics, which he believes are sending business leaders and investors the wrong signals; “if someone with the illustrious name of Dow Jones can tell the CEO and investors of an oil company that it is 85 percent sustainable, something is wrong.” Kendall explained why existing approaches to performance metrics are limited: 1) some metrics measure progress relative to a baseline year but this does not tell us where a company should be; 2) other metrics evaluate companies relative to best practice or peers but that encourages compan
A new partnership between data management company Tennaxia and the Sustainability Accounting Standards Board (SASB) may make it easier for companies to measure, manage and report on the sustainability data most essential for financial performance and value creation.By integrating SASB standards into Tennaxia’s software platform, companies will be able to track industry-specific metrics material to financial performance, alongside a broad range of CSR data and reporting frameworks. C-suite management and investors can have access to a ‘total mix’ of information needed to make decisions.
During my past five years at PRé, I’ve observed how companies approach different issues. I’m very interested in social impact assessment, and I experienced that companies have wildly different approaches for assessing the social impacts of their products and services, and for managing product social sustainability.
“No man is an island, entire of itself; every man is a piece of the continent, a part of the main.”— John DonneIs the world a better place because we exist?Socially useful business is neither a new idea nor one that is particularly at odds with the fundamental point of business — to sell things that people want or need.However, demonstrating social utility has becoming rather a burning issue in recent years, spurred not just by the slow growing questioning of the current mode of international capitalism but also by the rather more pointed challenges to the purpose of whole sections of the economy raised by the recent financial crash.
Despite the progress being made in organizations around the world in the pursuit of sustainability, many still suffer from internal breakdowns in communication on the subject, even when all teams are, ultimately, working toward the same goal. We asked a variety of practitioners their thoughts on solving two of the perhaps most common “language barriers” within companies today — that between Marketing and Sustainability teams, and between LCA practitioners and, well, the rest of the company. And the common theme around solutions seems to involve little more than changing your perspective.
Today, Kering released the results of its Environmental Profit and Loss Account (EP&L) — measuring the environmental footprint of its operations and across supply chains — and released the methodology as an open-source tool to encourage other corporations to clarify their impact on the environment.
Shareholders would revolt — and fire the CEO, CFO and Boards of Directors — of companies who ignore more than 80 percent of the factors that drive more value and profit.Prepare for a revolution, as 84 percent is the proportion of corporate value in the S&P500 corporations that is intangible. That’s right — the plant, property and equipment, as well as inventory, receivables and cash recorded on regulatory- required financial statements are only 16 percent, or one-sixth, of the value of your S&P500 index.
When Peter Bakker from the WBCSD declared that corporate social responsibility is dead, he urged us to create new definitions of success. The change to a more holistic approach is already happening. However, shouldn’t we place the shared value that we create at the heart of what we do?
In 13 earlier parts of this series, Claire Sommer and I developed 25 pitfalls in the sustainable business metrics field, based on the experiences of many mostly non-business fields. (Find them here.)It is tempting to believe objectivity is possible, humans are rational creatures, and decisions should (and could) be based on these. To be a member of such a higher species is reassuring (however much one might question this status on some “Page 1” newspaper days).
Meaningful Brands® – Havas Media Group’s metric of brand strength – is the first global study to show how our quality of life and wellbeing connects with brands at both a human and business level. The study includes 1,000 brands, 300,000 people, 12 industries and 34 countries; and covers the role brands play in our communities and our personal wellbeing, as well as marketplace factors that relate to product performance such as quality and price.
Total greenhouse gas emissions generated in the United States increased by 2 percent from 2012 to 2013, but emission levels in 2013 were 9 percent below 2005 levels, according to a new annual report by the US Environmental Protection Agency (EPA).The EPA’s 20th Inventory of US Greenhouse Gas Emissions and Sinks tracks total annual US emissions and removals by source, economic sector and greenhouse gas going back to 1990. The agency uses national energy data, information on national agricultural activities and other national statistics to provide a comprehensive accounting of total greenhouse gas emissions for all man-made sources in the United States.
H&M more than doubled the amount of collected garments with its garment collective initiative in 2014, according to its new sustainability report. In total, more than 13,000 tons of textiles have been collected — as much fabric as in 65 million T-shirts.Now, the apparel company has established a new goal of increasing the amount of products made of recycled fibers by at least 300 percent by the end of 2015.
General Mills made “significant progress” in 2014 toward its commitment to sustainably source 100 percent of its 10 priority ingredients by 2020, according to the company’s annual Global Responsibility Report.It is furthest along towards the goal of sustainably sourcing 100 percent of two raw materials: palm oil (83 percent) and fiber packaging (99 percent).The 10 ingredients represent more than 50 percent of the company’s annual raw material purchases and cover a broad range of raw materials including oats, wheat, corn, dairy, fiber packaging, cocoa, vanilla, palm oil, sugar cane and sugar beets.
The Global Initiative for Sustainability Ratings (GISR) has announced the launch of its Center for Ratings Excellence (CORE) Program — designed to accelerate the integration of environmental, social and governance (ESG) factors into the global financial markets.In 2014, sustainability-oriented assets under management eclipsed $20 trillion, according to the Global Sustainable Investment Alliance. These investments are shaped by a growing market for sustainability research and ratings from more than 100 organizations covering more than 50,000 companies on approximately 10,000 performance metrics.
Would you invest in a business that gave you only one figure — number of customers — by which to assess both its current state and future prospects? Of course, not; you would inquire about total sales, costs, revenues, margins, market share, and other figures.Any business decision-maker wants multiple figures. Context, and contextualizing data, is key.