Communicating a sustainability program (which most companies should be working on today) has enormous benefits.
A well-crafted communication strategy can be a powerful tool, allowing companies to engage employees and drive internal change towards sustainability, while also sparking stakeholder interest in major sustainable goals.
On the other hand, communication can help companies gain a competitive advantage, as their position on social and environmental issues sets them apart from competitors.
Sustainability communication also assists in addressing growing challenges, such as new reporting regulations, declining consumer trust in brands, and increased scrutiny from investors.
Today, the standard for companies is to communicate their sustainability progress.
Consumers increasingly prefer sustainable brands, with one-third of consumers choosing to buy brands they believe have a positive social and environmental impact.
Regardless of where companies operate, it is likely that governments, financial regulators, or stock exchanges will establish sustainability reporting rules and recommendations that will affect all companies.
This trend is unlikely to reverse, so it is essential to understand that every company should not only start sustainability programs but also communicate and report on their efforts.
By meeting mandatory or voluntary reporting requirements today, the company will be better positioned to respond to new regulatory requirements tomorrow.
This inevitability is even more evident in the context of the EU’s Green Deal, focused on a more sustainable world and European leadership in driving that change.
Simultaneously, a sustainability story is an excellent way to engage employees.
Sustainability helps build employees’ sense of purpose and pride in what the company collectively achieves, motivating them to pursue its overall strategy.
Moreover, it enhances the employer’s value proposition, making it easier to attract top talent, as people increasingly want to work for companies with a purpose beyond profit.
In the U.S., 75% of millennial workers, when deciding who to work for, consider the organization’s social and environmental commitments, and around 66% refuse to work for a company without sustainable practices.
It is crucial that our companies recognize they must not only initiate genuine sustainability efforts but also communicate this commitment—otherwise, they risk compromising their own economic sustainability.
Excerpt written by Vítor Ferreira. Published in Jornal de Leiria on December 13, 2021
*Cover Photo by Jeff Sheldon on Unsplash