Strategy & Embedding Sustainability
Companies with effective sustainability strategies have one thing in common – their sustainability strategies are aligned to their corporate strategies, which assist in embedding their sustainability activities into the day-to-day business activities.
A sustainability strategy is a framework to manage your company's current and future impacts on your stakeholders.
A company's sustainability strategy should be aligned with its corporate values, and should define the company's social and environmental responsibilities as well as related future goals and objectives.
It is vital for the company's sustainability strategy to also articulate clearly its plans to address the issues of most concern to its key stakeholders.
A clear and aligned strategy provides various benefits to the company, including easier communication of sustainability objectives to gain support from key sustainability stakeholders including senior management and the Board, and clearer alignment of social and environmental efforts to maximise the effort invested.
The figure below depicts how a responsible business and sustainable profits are embedded into the function of the board. The Board is also responsible to ensure integration of values and stakeholder interests in corporate strategy.1
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1UN Global Compact & the International Finance Corporation, "Corporate Governance, The Foundation for Corporate Citizenship and Sustainable Business", 2009 |
Saturday, 12 May 2012
Strategy & Embedding Sustainability-Function of BOD-- BURSA MALAYSIA
