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Developing an Action Plan for Corporate Sustainability Goals

August 21, 2023

It’s no secret businesses care about their bottom line. What’s becoming clear is that companies focused only on their financial success may have difficulty competing both for customers and for top talent.  Embracing sustainable business practices is more important than ever. 


A recent survey of 16,000 global consumers by the IBM Institute for Business Value found that 51% say environmental sustainability is more important to them today than it was 12 months ago. Of that same group, 44% said that they choose products based on how well they align to their values. If that’s not big enough news, according to global communications firm Edelman’s recently released The 2023 Edelman Trust Barometer, 69% of employees said that having a societal impact is a strong expectation or deal breaker when considering a job

It may be time for more companies to consider the triple bottom line. This concept suggests that there are actually three P’s to consider. Rather than just the standard of Profitability, businesses need to also be measuring their impact on both People and the Planet. With this broader view of success in mind, it’s easier to see the impact a company is having on both society and on the environment. 


Check out the suggestions below for how to embrace corporate sustainability initiatives and become a purpose-driven employer: 

Define the Mission 

Make sustainability goals part of your mission statement. 

  • Form an internal task force or a committee. The group can become your “Green Team” and develop a plan for how to identify what initiatives will be best for your company. 
  • Consider what matters to your employees, and what will matter to your customers. A town hall, survey, focus group, or other outreach methods can help collect information. 
  • Assess the company’s current sustainable practices to determine what’s needed to achieve goals. 
  • Include a balance of both environmental goals and social responsibility initiatives in the final plan. 

 

Keep in mind that this process is continually evolving, so allow for ongoing adjustments and updates, creating a living document. 

Develop a Plan 

Below are some of the key topic areas to consider, questions to ask on those topics as part of your assessment, and ideas for measures to implement as part of your Corporate Sustainability Action Plan:


Topic Area

Questions

Measures

Efficiency

  • How does your company manage the use of natural resources such as energy and water? 
  • Are there ways to use less? 
  • Add insulation to the building. 
  • Install solar panels. 
  • Replace standard lightbulbs with LEDs. 
  • Maximize the use of natural light and airflow. 
  • Use smart technology to conserve water such as motion sensor faucets and low flow toilets. 
  • Install motion sensors on lights, especially in areas that aren’t frequently used. 
  • Make sure that everyone powers down at the end of the day. 

Waste

  • What types of waste are generated? 
  • Is there a way to create less waste?
  • Implement a comprehensive building wide recycling program. 
  • Add a “freecycle” section to the website or newsletters where employees can swap unused items. 
  • Provide reusable mugs/cups for employees to discourage the use of plastic water bottles. 
  • Set up food waste composting bins in designated areas.

Vendors

  • Are suppliers vetted to see if they are responsible?
  • Examine the supply chain and source vendors who use more sustainable practices. 
  • Look for products that are gentler on the environment and free from toxic chemicals. 
  • Choose things that are recyclable, renewable, or biodegradable. 
  • Buy Energy Star certified equipment.

Community 

  • How is the company engaged in making the community better? 
  • Buy from nearby small businesses. 
  • Support local organizations with community service and fundraising efforts. 
  • Donate unused items to the community. 
  • Promote your efforts on your website so that you can lead by example.

Transportation

  • What can you do to reduce carbon emissions? 
  • Ensure that all company vehicles are as energy efficient as possible. 
  • Purchase carbon offsets. 
  • Offer employees a commuter services program that encourages them to carpool, vanpool, take transit, bike, and walk instead of driving to work. 
  • Provide a pre-tax purchase option or subsidy for transit passes. 
  • Establish a shuttle service that connects to transit or between campuses.

Measure Outcomes 

Once your green team has developed a thoughtful Corporate Sustainability Action Plan with specific goals based on research and stakeholder input, communicate it throughout the company. Use every corporate event and opportunity to promote it. Institutional change can be a challenge in a corporate environment, it’s important to have patience, and push ahead. Remember that it’s fine to start small and grow the program over time. 
 
There can be anxiety around measuring outcomes, but it’s important to see how it’s going. Periodically checking results of the plan allows for adjustments that ultimately make it more successful. 


For more information on the benefits of offering a commuter services program to your employees, contact Michele Brooks at mbrooks@transactionassoc.com 


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