How to set up a sustainability strategy for manufacturers
Five takeaways from our expert session about how to set up a sustainability strategy for manufacturers with Sophie Kieselbach.
Setting up a sustainability strategy can be a daunting task, but it’s essential for companies that want to thrive in the long term
Sustainability has become a critical issue for manufacturers in recent years. Setting up a sustainability strategy can be a daunting task, but it’s essential for companies that want to thrive in the long term. In this article, we’ll delve into the process of developing a sustainability strategy, starting with getting to know the company’s structure and stakeholders, and then gathering data to identify gaps and refine the strategy.
The Five Key Learnings
Takeaway 1. Importance of Collaboration and Comprehensive Understanding
Developing a sustainability strategy involves understanding the company’s structure, products, suppliers, and departments involved in production. It is a team effort, and it’s important to get in touch with people who are interested in the topic and can work with you.
Takeaway 2. Maximizing Data Sources: Utilizing Internal and External Data
Companies can obtain data for sustainability reporting by looking for data they already have, such as procurement data, legal data, compliance data, and primary data on production. They can also use external databases and reach out to suppliers for more information.
Takeaway 3. Streamlining Data Gathering: The Importance of Structured Data and Automated Tools
Data gathering is a critical task that involves evaluating the data and working to get the data in the right structure. The best-case scenario is having a personalized tool with an automated data upload system, while the worst-case scenario is manually sorting through Excel files from various systems.
Takeaway 4. Integrating Legal, Environmental, Social, and Cost Requirements: Using a Matrix
A matrix that lists different requirements like legal, environmental, social, and cost requirements can enable a company to define a strategy that takes into account all the different requirements. Compliance with legislations is important, and there is a growing trend towards mandatory sustainability reports.
Takeaway 5. Challenges and Rewards of Implementing a Sustainability Strategy
Implementing a sustainability strategy takes time, investment, hard work, and can cause frustration, but it also offers benefits such as more opportunities for the company, and pride and motivation for employees.