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Retailers' Guide to Sustainability

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Implementation: Facilitate collaboration across business units and functions, and engage with tenants, supply chain vendors, and external partners. Consider adding sustainability roles at the board level and upskilling employees on sustainability information. Regular Monitoring, Evaluations, and Mandated Reporting: Ensure that the firm is on track to meet its sustainability goals and targets on a monthly or annual basis as regulations will require data to back up any stated goals. This may involve tracking key performance indicators, such as energy consumption or carbon emissions, and comparing these metrics to the baseline established at the start of the sustainability initiative. Utilize corporate sustainability reporting, and reporting to various voluntary ESG standards and frameworks (the GHG protocol and SBTi (science-based targets initiative are important standards for carbon emission reduction targets specifically). Conduct Consumer Research: Integrate sustainability into consumer research by deepening the understanding of consumer sentiment, anticipating evolving expectations, and determining the premium consumers are willing to pay for sustainable products. Real-world experimentation with pricing among different consumer segments should accompany the research. Test Green Products: Develop new versions of products that utilize decarbonized materials and a lower-carbon supply chain, and test consumer uptake and pricing power. Retailers should also test the positioning of green products to identify messaging that resonates with consumers and drives adoption. Product Level Emissions Transparency: Establish transparency in emissions at a product level to aid in prioritizing decarbonization efforts and facilitate sustainable consumer choices. This entails collaborating with vendors and third-party emissions-tracking providers and creating internal teams to develop emissions databases. Furthermore, investing in technology to make emissions information easily accessible to customers with QR codes would be necessary. Sustainability & Energy Management Simplified

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