A Business Case for Sustainability

Pierre-Francois Thaler, Co-founder and Co-CEO of EcoVadis, perfectly articulates  the new business imperative – sustainable supply chains – in his piece in Future of Sourcing, “The Growing Business Criticality of a Sustainable Supply Chain.”

Key insights include:

  • 88% of studies found companies adhering to social or environmental standards showed better operational performance, with 80% showing a positive impact on stock performance.
  • Sustainably minded shoppers will spend $150 billion on sustainable products by next year. That’s $14-22 billion more compared to prior years, pointing to new sales opportunities for businesses that prioritize sustainability in product devleopment.
  • Sustainable supply chain practices reduce costs by 9-16% and create a 15-30% increase in brand value. 73% of CEOs report sustainable business builds trust and reputation.
  • Ignoring ESG exposes investments to huge risks and erodes returns. This behavior has wiped out $534bn of valuation in the last five years.

Read more here: https://bit.ly/2NT6xM8

Filed Under Things We Love

Webinar: Greenwashing

Brands are facing a reckoning.

Greenwashing is as pervasive now as it was pre-COVID. Sustainability marketing claims have spiked, but they don’t always mean action. Conscious consumerism is bringing a tsunami of accountability like never before.

How do brands navigate? How can consumers cut through the noise? And what really drives social and environmental impact in fashion and food?

Transparency, supplier partnerships and ESG innovation are just some of the solutions we explored in our NextGenChef Table Talk.

Our panel:

Watch the full panel: HERE

 

 

Filed Under By GoodOps

White Paper: Food Systems

NextGenChef’s white paper, The State and Future of the Food System post-COVID-19, explores today’s most pressing questions.

COVID-19 has exposed the weak points in the U.S. food supply chain, raising fears of food shortage among consumers. The disruptions have drawn widespread attention to the problems that entrench the food industry, simultaneously urging the country to reflect on sustainable alternatives.

As consumers alter shopping behavior, suppliers run low on supply, and logistics buckle under pressure, brands who will emerge as winners will be the ones who lead with environmentally and socially responsible operations.

In this NextGenChef whitepaper, the team speaks with eight industry experts across the country, including senior supply chain consultants and CEOs who represent more than 180 organizations to uncover how COVID-19 has changed the food supply chain.

GoodOps’ CEO, Divya Demato, touches upon the importance of DTC food models and how the path to resiliency lies in supplier recovery.

Read on for exclusive industry insights here https://go.aws/2CdRJVU

Filed Under By GoodOps

Webinar: FASHINNOVATION Worldwide Talks

FASHINNOVATION’s Worldwide Talks 2020 panel on Supply Chain and Circular Economy explores the role of equal justice, standardizing sustainability metrics, power of being an early adopter of ESG and future trends like plant-based materials.

Panelists:

Watch the full panel here: https://lnkd.in/djH-xNv

Filed Under By GoodOps

A Playbook for Social Justice

In light of current conversations surrounding systemic racism both in our nation and our world, an inextricable link between social responsibility and social justice are coming together. By no means perfect, sustainability playbooks can offer an initial basic framework for #SocialJustice initiatives as executives begin their journeys:

SET GOALS

Set concrete goals that uplift people of color at all levels of the company: board members, investors, c-suite, managers, front-line workers, partners, customers, etc. Promoting marginalized people into power positions, paying them well, providing health benefits, improving educational opportunities for themselves & their children – all have an impact on communities & society at large. Think about areas typically covered under “S” in ESG.

CREATE METRICS

Determine the right metrics to measure results and adapt tactics if initiatives are not working. Work w/community leaders to determine these so they are not done in a vacuum.

DEVELOP A TIMELINE

Set an aggressive & meaningful timeline. To say there are “no great candidates of color” for leadership positions is a total failure in effort. Expand your networks and collaborate w/black & brown leaders who are connected to these communities & can help funnel talent your way.

BE ACCOUNTABLE

Be held accountable. Publish your goals & timeline publicly & update us – the same way we see sustainability announcements. Do a bi-annual report outlining your social justice progress & share your challenges so others can help.

Specifically for Black Lives, here’s how to act now:

  • Invest in black founders.
  • Promote black colleagues.
  • Invite black executives to boards.
  • Hire black people for “office” jobs.
  • Fast track/mentor black leaders.
  • Fund black accelerators.
  • Partner with black founded companies.
  • Buy from black businesses.
  • Cast black actors in ads/media/film roles.
  • Make products that address black needs.
  • Give black leaders awards.

Filed Under By GoodOps