When you search “Sustainability” on Google, you get more than 1.1 billion results. But it doesn’t take a Google search to realize that this is an important topic. More and more companies understand the importance of Sustainability, and that commitment was fully on display at Sphera’s recent virtual Sustainability Summit.
At the event, we heard from Sphera clients such as AptarGroup, which announced in August that it had formalized Science Based Targets and set an emissions reduction goal consistent with the recommendations from the Intergovernmental Panel on Climate Change. We also heard from BASF, which calculates the carbon footprint on 45,000 of its products, and ista International, which has announced it will be climate-neutral by 2050 by working exclusively with sustainable and client-neutral suppliers.
These are all great examples of how companies can make a difference and, as we know, the business case for Sustainability speaks for itself. One study, for example, found that companies with robust Sustainability practices experienced enhanced operational performance and, ultimately, better financial results.
The passion for Sustainability is there, and we couldn’t be more encouraged by that.
In Sphera’s recent Sustainability Maturity survey, 87% of participants said that there is a commitment from senior management to integrate Sustainability into their company’s overall business strategy, and 71% said there is a similar commitment from senior management to integrate Sustainability into product development.
That’s important, of course, but only half (53%) of respondents said they had a strategic Sustainability plan communicated throughout their organization, and only a quarter (23%) said they have committed to Science Based Targets.
Even in the middle of a pandemic, a focus on Sustainability is so important to the future of our environment, and an Integrated Sustainability Management strategy is key to a more sustainable future.
To learn more about what your organization can do to enhance your Sustainability initiatives, I invite you to watch the Sustainability Summit recording on demand, which includes sessions with the three aforementioned companies as well as others focused on leveraging Sustainability as a competitive advantage for improving overall performance.