From PR to Progress
Delivering on Corporate Sustainability
OUR IMPACT HIGHLIGHTS
Organisations Reporting Increased Turnover
Value of Organisations’ Turnover
No organisation or government exists in isolation. Each one operates within an ecosystem of people, cultures, processes, and interests, and alignment around a shared strategy can result in transformative value that benefits everyone within that complex network.
For many corporations around the world, sustainability is emerging at the heart of that strategy.
2021 saw a continued pressure on organisations to make good on their ESG commitments, to see through promises to increase diversity within their ranks and establish plans for reaching net zero by 2030. Now is the time for companies to deliver on those pledges, but what we’ve seen time and again is that many, if not most, don’t even know where to start.
Now is the time for real change – if not simply because it’s the right thing to do, then because people are demanding it. Global and multinational companies have made statements and committed funds, but their efforts ring hollow in the ears of stakeholders who have become disillusioned by posturing without progress.
In too many companies, social impact and corporate social responsibility reporting are considered public relations issues. Annual statements are made, but words aren’t enough from corporations that touch every facet of our lives – their reach is too immense not to play a meaningful role. True progress on social issues requires corporate action, and with that action, monitoring and reporting on impact.
What many organisations fail to realise is that while operating within a broader ecosystem may complicate their ESG goals, it’s also the key to their success.
Can an organisation consider themselves truly net zero when one of their suppliers isn’t? For many companies, the underlying issue is with ensuring that partners within that value chain are meeting overarching goals. “Scope three emissions” is the latest buzz-term – those emissions that are out of an organisation’s control but may in fact still affect overall goals towards net zero or reductions in greenhouse gases.
Palladium thought leader Dr. Robert S Kaplan proposed a new system for tracking and reporting emissions across an entire supply chain in his 2021 Harvard Business Review article, “Accounting for Climate Change”. It’s these emissions that represent not just the struggles many organisations are facing, but their opportunities to improve. Supply chains can make or break an organisation, and when each facet of the chain is in alignment, it’s not only good for business but can have positive ripple effects within the communities in which the organisation works and beyond.
While an important factor, this goes well beyond environmental work. From building local capacities, to improving technology and capital access, and implementing diversity requirements throughout a value chain, our experience has taught us that a truly sustainable business is one that encompasses inclusive growth strategies to build up resilience and capacity every step of the way.
There’s no one-size-fits-all solution and working across an entire supply chain requires significant transformation. It means asking a lot from organisations, suppliers, and value chain actors alike – but it’s possible, and there’s no more worthy a cause for either people or profits.