NEW

Thriving in the Age of Digital Adoption: Embracing the Workforce Ecosystem (part 2)

In the first part of this series, we looked at how the fears of technological innovation are resulting in an unproductive resistance toward modernisation, even as it gains extraordinary pace in 2021. We also delved into the importance of a growth mindset in allowing...

Thriving in the Age of Digital Adoption: Overcoming the Fear of AI (part 1)

“What if artificial intelligence takes over my job? What if I become redundant?” Every one of us has experienced technology encroaching on our lives, more and more so with each year that passes. It appears that technological innovation is a certainty that is only...

Starting & Thriving in E-Commerce in South Africa: The Payment

In our previous article, Starting & Thriving in E-commerce in South Africa: The Customer, we looked at a few variables that affect the customer’s experience with a business; these include how you can build valuable information about and around your...

Starting & Thriving in E-commerce in South Africa: The Customer

In our previous article, Starting & Thriving in E-commerce in South Africa: The Foundations, we explored the various options and requirements for taking your business online as well as the importance of meeting your audience in the places they naturally...

Starting & Thriving in E-commerce in South Africa: The Foundations

The COVID-19 pandemic has transformed our lives in a number of drastic ways. While some big corporations struggled to remain relevant in the shape-shifting business climate around them, many start-ups have found their time to shine and are performing remarkably well....

Leveraging Data to develop a competitive advantage

Not a lot of people have heard of the term ‘dark data’ before; Gartner defines it as the information assets organisations collect, process and store during regular business activities, but generally fail to use for other purposes (for example, analytics, business...

Leveraging data-driven agility in an agile world

At MAC we have recently been having discussions about the concept of Data Driven Agility; how can organisations start to leverage data more intelligently in an agile-delivery process, select data which is fit-for-purpose and, importantly, help solve business problems?...

What is a data journalist and why do you need one?

One of the biggest pain points in many organisations – although they might not even be aware of it – is the disconnect that exists between the data analytics department and the other business units. Despite the concept of a data journalist not being well recognised in...

How to get people onboard your data journey to drive usage and adoption

In the preceding articles we have covered topics on building the correct foundations so as to implement data analytics in an organisation with a centralised data function. Using the Sit. Crawl. Walk. Run. Paradigm, we explored how best to embark on a data journey and...

How to get people onboard your data journey to drive usage and adoption

In the preceding articles we have covered topics on building the correct foundations so as to implement data analytics in an organisation with a centralised data function. Using the Sit. Crawl. Walk. Run. Paradigm, we explored how best to embark on a data journey and...



Mac Consulting

SUSTAINABILITY STRATEGY AND THE SDGS

SUSTAINABILITY STRATEGY AND THE SDGS
SUSTAINABILITY STRATEGY AND THE SDGS

The United Nations (UN) Sustainable Development Goals (SDGs) are a global call to action to achieve a more sustainable world for all, mobilising governments and the private sector to address the global challenges we are facing (climate change, economic inequality, poverty, sustainable consumption and environmental degradation). 17 Goals represent the action plan to transform our planet and society by 2030, creating a just and equal world for everyone.

Across the world, companies are declaring their support by embedding the SDGs into their business and sustainability strategies. Companies are realising it is the ethically and morally correct thing to do and that achieving the SDGs is good for business – Attaining the Global Goals could bring about approximately $12 trillion in market opportunities (Business and Sustainable Development Commission Better Business Better World report). By aligning business and sustainability strategies with the SDGs, companies can capture these opportunities in market share and shareholder value.

MAC Consulting recently helped one of our clients – a large JSE-listed chemical manufacturing company – develop a refreshed Sustainability Strategy aligned to the SDGs. We broadly followed a six step approach to develop their Sustainability Strategy, taking into consideration the risks towards and opportunities for value creation and their contribution to the SDGs:

Step 1: Analysis of Sustainability Strategy Drivers

We started the process by conducting a comprehensive analysis of the impact that the external market drivers have on the Sustainability Strategy of our client and further engaged with key internal and external stakeholders identified by the client. This included identifying sustainability best practices and understanding industry trends to ensure that the Sustainability Strategy would create value for the business and its stakeholders.

Step 2: Review Existing Initiatives

We reviewed the clients existing sustainability initiatives to unpack existing momentum and to identify where performance could be improved. This also involved mapping all existing initiatives to the SDGs in order to identify broad themes.

Step 3: Develop the Sustainability Vision and Purpose

Together with our client’s Sustainability Executive, and with input from the Group Exco, a Sustainability Vision and Purpose was developed that closely aligned to the organisation’s strategy and business model. An ambitious vision was chosen to reflect the scale of the progress required to ensure we achieve prosperous and sustainable world for all.

Step 4: Identify Strategic Objectives and Align to SDGs

The materiality concept was used to identify and prioritise SDGs and targets according to the company’s environmental, social and economic impact on the SDGs, and the potential risks and opportunities the SDGs pose the company and its stakeholders. In general, targets were aligned with the SDGs most relevant to the company’s core business.

5. Design Strategic Framework

The strategic framework underpinning the Sustainability Strategy was designed to ensure smooth socialisation and implementation across the organisation.

6. Finalise the Sustainability Strategy

The last step involved finalising the Sustainability Strategy and getting sign-off from Group Exco and the Board.

NOW UNTIL 2030 AND BEYOND

Forward thinking companies will want to understand how their business impacts the SDGs and what action they can take to achieve the 17 Goals by 2030. By focusing on the SDGs that are most relevant to their core business, companies can impactfully address challenges such as economic inclusion, diminishing natural resources, environmental degradation and the negative effects of climate change.

Not only will this ensure long-term business sustainability and increase shareholder value, but it will also align with stakeholder expectations, which will improve trust and strengthen their license to operate.

You May Also Like…

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *