What exactly does corporate sustainability mean? How can you implement and promote sustainability at your company? With all the pressures of day-to-day manufacturing, why would you even want to?
As defined by Investopedia, sustainability focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs.
The concept of sustainability is composed of three pillars: economic, environmental, and social—also known informally as profits, planet, and people.
Corporate sustainability (also known as corporate social responsibility or ESG) is no longer an add-on; it’s the new normal. And how your company defines and pursues it is a story you should be sharing to those that matter to you.
Customers and Community Asking for Sustainability
Our global economy has moved beyond a purely financial bottom line to a new era of transparency and accountability. Your stakeholders — including your employees and community — are looking to your organization to help bring about a sustainable future for all.
For many corporations this is influencing their internal purchasing practices and has been become a priority. It also addresses their supply chain concerns.
A report released by the Sustainable Procurement Leadership Council and research conducted by EcoVadis and Stanford highlights some key points to think about.
In the image below, you will notice the increase in companies reviewing their suppliers’ sustainability practices.
Leveraging Sustainability for RI Manufacturing
Polaris MEP, in partnership with the Rhode Island Manufacturers Association (RIMA) is gathering a working group to create specific ways for manufacturers to leverage sustainability. We’ll start in November with a virtual listening session.
For that online discussion, we selected specific companies to participate in the working group based on their business-to-business profile. There are limited spaces in the group; if you or your designee want to be considered for this session, please reach out to Deb at RIMA (debc@mfgri.com).
If you’d like to talk about sustainability and how your company is/isn’t implementing sustainable practices, please email me at kmahoney@polarismep.org. I welcome the opportunity to learn about your business.