What is a sustainability strategy?
At its core, a sustainability strategy means future-oriented corporate management: How is my company positioned with regard to current market requirements? The strategy forms the framework and determines the objective setting that a company or an organisation strives for with regard to sustainable corporate management and, in doing so, considers, in particular, the social, ecological and economic dimensions of sustainability with their relevant topics.
The sustainability strategy lays the foundation for responsible, future-oriented corporate management.
“If you don’t know the port you want to sail to, there is no wind right for you.”
Seneca
Why your company should have a sustainability strategy?
A sustainability strategy for your company will help you to cope with the increasing demands placed on companies when it comes to the transparency the underscores responsible and future-oriented corporate governance. In addition to regulatory requirements (e. g. Supply Chain Act, EU Green Deal), market requirements and an assessment of external risks (e. g. climate change or human rights violations in global supply chains) are also taken into account. With an appropriate sustainability strategy, you can position your company securely for the future and actively maintain, fulfil or shape it.
How does planZ go about creating a sustainability strategy?
planZ accompanies you in 5 steps to your sustainability strategy and its implementation:
A situational assessment pertaining to the topic of sustainability
planZ records and structures your existing sustainability activities and shows where there is still room for manoeuvre and potential for greater sustainability.
Identification of material issues from an internal and external perspective (materiality analysis)
Which sustainability issues are relevant from your company’s point of view and for your products? What are the issues from the perspective of your stakeholders? Where are the adjustment options and hotspots with regard to the life cycle of your products? The UN Sustainable Development Goals serve as the basis for the materiality analysis.
Development of your sustainability target
Following a materiality analysis, your sustainability target is defined. This defines the strategic direction of your company with regard to economic, ecological and social responsibility.
Creation of a roadmap with measures & goals
In the next step, the roadmap defines goals and measures to achieve the target. With the help of KPIs (Key Performance Indicators), the achievement of objectives and the subsequent impact are measured, so that these act as control variables.
Implementation & Control
The final step incorporates implementation and control. This may also include necessary adjustments on the way to achieving the successful implementation of your sustainability strategy. And all in line with the pragmatic approach from the continuous improvement process (CIP): Plan, Do, Check, Act.