Issue link: https://resources.tangoanalytics.com/i/1527886
Copyright 2024 Tango. All rights reserved. When a sustainable strategy is not integrated transparently into performance management, such as emissions targets the CEO communicates, how does the company get there? Sustainability data and ESG reporting on the surface can appear very far removed in application from the technical and financial teams within a business, especially when "sustainability" roles are typically siloed and set up as separate business functions. Sustainability should not operate as a one-off, separate initiative within the corporation, but it should be treated as a core business function that is understood well by those who will ultimately be the ones executing efficiency measures and gathering data (engineers and facility managers). Lines of communication should be established across all business levels and teams for sharing data and sustainability information. Successful supply chain sustainability also requires collaboration across departments—from R&D to procurement, to logistics. By breaking down silos, we can ultimately innovate and execute sustainability strategies more effectively. 05 Revisiting the Roles for Sustainability Currently Defined Within Your Organization Consider whether your sustainability strategy is thoroughly understood by those on the front lines of delivering them. Ensuring that sustainability information and the impact desired by the firm is clear to all employees is integral to successful long-term goals. Developing data literacy among staff and employees, making sustainability data easy to access by all, and making individual business units responsible for their sustainability initiatives is a great way to cultivate employees capable of operationalizing the sustainability data. 06 Redefining the Employee Culture Surrounding Sustainability A sustainability strategy can be key to supporting the risk management plan of a company and the data may be decision-useful for finance and procurement teams. Organizations can minimize future risks and maximize future opportunities through climate-related risk assessments, and leveraging the risk to investor interest associated with progress on sustainability goals. 07 Understanding that sustainability data can be used to manage risk