Conduct Workplace Sustainability Assessment

Decide on the Communication’s Content and Frequency

Sustainability programmes should include regular dialogue and input with stakeholders. Setting a clear timeline for first and follow-up communications or meetings aids in managing stakeholder expectations and increasing involvement. Companies must consider their stakeholders' preferences for communication frequency; quarterly or semi-annual messages may be acceptable in some cases. Stakeholder communications should include clear objectives and any business norms of involvement, such as information about private data, privileged talks, and anonymity.

The phrase "stakeholders" refers to a wide range of persons. Customers, shareholders, workers, and communities with a vested interest in a company's goals and development plans are referred to as stakeholders. All of these people are impacted by a company's sustainability efforts, which have an impact on society and the environment as a whole.

Because business is becoming more intertwined with the global economy and emerging countries, citizens from developing countries are stakeholders. Multinational firms' commercial strategy and sustainability efforts eventually influence these individuals through, for example, ecologically sound practices to increase water quality and natural resource reserves.

For various reasons, the government is also a peripheral investor in corporations. They rely on taxes collected from businesses that do business in their jurisdictions. They must invest money to ensure that enterprises adhere to federal regulations. Countries that join environmental accords that promise to decrease carbon emissions must consider the enterprises that operate inside their borders.

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The next video is by Issac Rodriguez, who explains stakeholder communication.

The next video, which is presented by Google, explains how to communicate effectively.

Importance of Stakeholders for Sustainable Business

In times of crisis, communication and cooperation between organisations and their stakeholders is necessary to retain trust in the market, social services, and civil society. The principles, problems, and advantages of good stakeholder management are a strong argument for organisations officially incorporating stakeholder management into their processes and systems.

Stakeholder relations management aims to maximise beneficial impacts on a project, organisation, or collaboration while minimising negative effects. The management process must be cyclical for lessons learned to be applied to the next project or company improvement plan.

Stakeholder inclusivity (e.g., external stakeholders such as community groups, Indigenous Australians, and landholders) is highlighted when using a sustainability lens to manage stakeholder relations, which means stakeholder analysis and documentation is critical to enabling the best use of resources. Employees, supply chains, and younger generations are all developing major stakeholder groups that may directly impact an organisation's performance. Interaction between stakeholder groups (i.e. communication lines, networks, and systems) may increase this amount of influence.

Corporate social responsibility provides a solid framework for managing stakeholder relationships and contributes to global goals like the Sustainable Development Goals (SDGs). Stakeholder relations management and the corporate value derived from establishing stakeholder trust lay the groundwork for successful communication, resilience, and recovery during crises such as COVID-19.

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Watch the next video quickly explaining why stakeholders are important.

4 Steps to Getting Stakeholders Involved in Sustainability Reporting

Before including stakeholders in the sustainability reporting process, companies must consider the following four steps:

Stakeholders Should Be Consulted Early

The involvement of stakeholders should be a key component of sustainability reporting process. By including stakeholders early in the sustainability reporting process, a company is able to better understand their needs and growing concerns and identify opportunities to fix problems before they pose a severe danger to their long-term viability. Building a successful engagement plan will increase the organisation's and key stakeholders' trust, cooperation, open dialogue, and information sharing.

Make a Decision on How to Engage Stakeholders

How companies plan to engage or interact with stakeholders is important to consider when they are developing an engagement strategy. Internal and external stakeholders can be involved by using a variety of methods, including surveys, questionnaires, one-on-one interviews, focus groups, community panels, and workshops. From sharing information at community panels to collaborative issue solving at workshops to joint decision making at formal meetings, how companies interact with stakeholders impacts the amount of participation they receive. Understanding the requirements of stakeholders, their desire to participate, and any resource restrictions that would prohibit them from engaging is a key step in choosing how to engage the chosen audience. To create trust and collaboration, a business must demonstrate that it understands stakeholder perspectives, beliefs, and concerns.

Decide on the Communication’s Content and Frequency

Sustainability programmes should include regular dialogue and input with stakeholders. Setting a clear timeline for first and follow-up communications or meetings aids in managing stakeholder expectations and increasing involvement. Companies must consider their stakeholders' preferences for communication frequency; quarterly or semi-annual messages may be acceptable in some cases. Stakeholder communications should include clear objectives and any business norms of involvement, such as information about private data, privileged talks, and anonymity.

Conclusions Report

Companies must report on stakeholder input and concerns identified during engagement sessions along with a thorough strategy to resolve the issues and information gathered. Sharing results and action plans with stakeholders assists in increasing transparency and reaffirming the company's commitment to the sustainability efforts raised during engagement sessions.

The following are the key areas of the workplace that get assessed in the sustainability assessment.

Environment

Environmental reports detail the company's overall impact on the environment, both positive and negative. This might be in the form of a carbon or water footprint. Each industry has its own set of guidelines.

Social

A social report details how a company contributes to society through its policies and procedures, as well as any new projects it may have. This may be achieved through the use of language, numbers, and photos.

Economic

A description of the company's financial performance (i.e., turnover or revenue) as well as any investments in new ways should be included in a financial report.

The phrase "sustainability" refers to a variety of programmes, efforts, and actions focused on preserving a certain resource. It really relates to four separate areas: personal, social, economic, and environmental sustainability, which are referred to as the four pillars of sustainability. To achieve total sustainability, problems must be handled in regard to the four pillars and then maintained. Although some of these may overlap, it is critical to determine the specific type of green business to focus on, as each of the four has its own set of features. Businesses must make a strategic choice to properly integrate the selected strategy into their policies and processes.

Economic Sustainability

The goal of economic sustainability is to keep the capital intact. Economic sustainability attempts to raise living standards, whereas social sustainability focuses on increasing social equity. It refers to the effective utilisation of assets to preserve a company's profitability over time in the business world.

Economic sustainability refers to practices that support long-term economic growth without negatively impacting social, environmental, and cultural aspects of the community.

Example

• Reducing usage of fossil fuels
• Focusing on alternative fuel sources
• Increased Recycling
• Improved Public Health
• Sustainable Agriculture
• Circular Economy

Aim

• The main goal of economic sustainability is to create a balance between economic growth and the development of positive change for the environment and humanity.
• Economic sustainability aims to create long-term financial viability for event for organizers while considering the broader economic impact.

According to a more contemporary approach to economics, the ecological and social components of this model are only partially accounted for in this model. Natural capital (ecological systems) and social capital (human interactions) are included in new economics, which questions the capitalist credo that continuous expansion is always desirable.

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The next video is a Ted Talk from Geoff Norby explaining The Economics of Sustainability.

Social Sustainability

The goal of social sustainability is to safeguard social capital through investing in and creating services that form the framework of society. The concept permits a larger view of the world in terms of communities, cultures, and globalisation.

It encompasses protecting future generations as well as realising that human activities have an impact on people and the earth as a whole. Social sustainability focuses on sustaining and improving social quality via values such as cohesion, reciprocity, and honesty, as well as the necessity of interpersonal connections. Laws, information, and accepted conceptions of equality and rights can all contribute to its development and maintenance. The concepts of social sustainability and long-term development are inextricably linked.

Social sustainability is about identifying and managing business impacts, both positive and negative, on people. The quality of a company's relationships and engagement with its stakeholders is critical.

• The five dimensions of social Sustainability are:
  • Quality of life
  • Equality
  • Diversity
  • Social Cohesion
  • Democracy and Governance
• The five principles of social sustainability are:
  • Social equity and justice
  • Diversity and inclusion
  • Democratic participation and empowerment
  • Livelihood security
  • Social well-being and quality of life
• What are the goals of social sustainability?
  • Social Sustainability and Inclusion focuses on the need to "put people first" in development processes.
  • It promotes social inclusion of the poor and vulnerable by empowering people, building cohesive and resilient societies, and making institutions accessible and accountable to citizens.
• What two main areas does social sustainability focus on?
  • Social sustainability involves a focus on the well-being of people and communities.
  • It's about promoting equity, human rights, access to education and health care, and decent work.

The notion of sustainable development emphasises the improvement of social and economic conditions while protecting the environment and promoting equality; as a result, the economy, society, and ecological system are all interdependent.

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The next Ted Talk is presented by Loren Swift explaining What is Social Sustainability and Why does it matter?

Watch this small animation explaining what Social Sustainability is.

Human Sustainability

Human sustainability attempts to preserve and strengthen human capital in society. Human sustainability includes investments in health and education systems and access to services, nourishment, knowledge, and skills.

Natural resources and space are finite, and it is necessary to strike a balance between continued expansion and gains in health and economic well-being for all. An organisation must consider itself a part of society and promote corporate ideals that value human capital in the business world. Human sustainability emphasises the relevance of anybody directly or indirectly involved in product development, service delivery, or larger stakeholders.

Businesses and the methods used to get raw materials may have a positive or negative impact on communities all over the world. Human sustainability refers to the development of skills and human capacity to support the organisation's operations and long-term viability and promote community and societal well-being.

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The next video is by Sean Nicholl, breaking down what human sustainability is.

Environmental Sustainability

Environmental sustainability attempts to increase human well-being by safeguarding natural resources (for example, land, air, water, and minerals). Initiatives and programmes are ecologically sustainable when they ensure that the population's demands are addressed without jeopardising future generations' requirements. Environmental sustainability emphasises how businesses may produce positive economic benefits while causing no harm to the environment in the short or long term.

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The next video for you to view is a Ted Youth Talk by Enaya Amir explaining environmental sustainability.

A company may report on its sustainability performance for a variety of reasons. However, building and maintaining a solid business reputation is frequently the major motivation for reporting due to stakeholders' growing need for openness and communication. Sustainability reports all contain common data categories such as carbon data, water consumption, charitable donations, volunteer hours, and diversity and governance information. It can be challenging to collect data consistently and properly when such a wide range of data kinds.

The current sustainability reporting criteria help select the topics that should be covered. When it comes to how firms should gather, evaluate, and analyse the data contained in the reports, there is no widely accepted technique. However, if there are issues with the data's integrity, decision-makers will find it impossible to derive any actual commercial value from sustainability reporting. Following are some ways to improve the accuracy of data:

• Establish a solid set of goals and objectives and a defined process for measuring progress, thus increasing transparency, and reducing data gathering errors.
• To simplify the data collecting and validation procedures, generate frequent progress reports and promote data responsibility. According to a KPMG review of current trends in sustainability reporting, the best reports were from organisations where the CEO, Board of Directors, or a specific board member, such as the CFO, was responsible for data.
• Implement a continuous monitoring approach for key performance indicator tracking to detect abnormalities. It also allows teams to track progress towards objectives and industry standards with more accuracy, reducing the need to go back and comb through data when it comes time to report externally.

What Is an Environmental Audit?

The primary goal of an environmental audit is to examine environmental performance across all of a company's present operations. An audit is, at best, a thorough evaluation of management processes and facilities; at worst, it is a cursory assessment. The phrase "environmental audit" can have different meanings. Assessment, survey, and review are all terms that are used to describe the same sort of action.

The steps involved in creating an environmental audit are:

Criteria

Choosing the criteria against which the audit will be done and ensuring that management throughout the business is aware of these criteria is an important step in creating an audit programme. The following are some of the most common audit criteria:

• Statuses and regulations that apply.
• Environmental policies and practices at the firm.
• Environmentaally sound management practices

Desktop Audit

It is the method of verifying the sustainability practices of a workplace based on a review of related policies/procedures being followed in an organisation. Every organisation must develop sustainability or corporate social responsibility policies/strategies/plans. The procedures and budgetary implications must be defined clearly.

Functional audit

It is done by continuously assessing environmental performance through audits and other daily, weekly, and monthly duties in order to identify opportunities for improvement.

Depending on their in-house resources and the function and purpose of the audit, companies can utilise internal or external auditors to manage their environmental audits.

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The next couple of videos below are some examples and explanations about Environmental Audits.

When assessing a company's long-term viability, it is necessary for them to consider their stance on three main concerns: the environment, social issues, and governance (ESG). An example may be its position and tactics on significant global issues, including climate change, child labour, equality, justice, wage inequality, and corruption. Are there any linkages between environmental, governance, or social sustainability challenges that are particularly beneficial or negative?

Over the course of a company's whole 'product life cycle,' they may examine a number of sustainability performance indicators. When evaluating these characteristics and performance indicators, companies should also consider if their procedures are long-term sustainable and flexible.

Environmental

Environmental indicators are critical and should be used at every stage, from manufacture to distribution. A corporation should be assessed on factors such as:

It is necessary to examine whether the firm employs environmentally friendly trash disposal, renewable energy sources, and recyclable and re-use products to tackle environmental challenges. It is also worth considering how they affect protected ecosystems and species.

Social

Social sustainability refers to a company's internal network, such as its workers, and its external networks, such as its customers or the general public. Policies, diversity, and human rights should all be investigated inside the workplace. The labour standards, manufacturing, and supply chain management are crucial, especially at the start of the product life cycle. Companies should analyse their safety management, employee protection rules, and whether or not there are an unusually high number of accidents in the workplace.

When focusing on customers and the larger community, companies must consider product safety, customer privacy, and the overall influence on the community.

Governance

Sustainable governance indicators are useful for demonstrating a company's transparency and connectedness with its shareholders, board of directors, customers, and other stakeholders. They should also detail any instances of corporate corruption or bribery and the steps taken to maintain equity, justice, and efficiency.

Many of the indicators are focused on a company's board of directors, including its structure, composition, policy supervision, and strategic sustainability. Other indicators will consider shareholder rights, investor response, and compensation discrepancy.

Measure Sustainability

Many sustainability models include or omit corporations depending on favourable or unfavourable environmental, social, and governance behaviours. While this method helps locate companies with a favourable profile regarding their responsibilities, it has the drawback of occasionally arbitrarily excluding a firm or even an entire industry based on a "small offence". While an individual firm may have excellent environmental policies and procedures, the industry in which it operates may be considered environmentally harmful, and hence it is excluded. As a result, investors are advised to assess organisations along a spectrum, with their sustainability criteria rated and compared to similar enterprises. Following the evaluation of these ratings, other screening techniques can be used to narrow down the possibilities even more.

Source of Information for Evaluation of Sustainability

Obtaining all of the information companies want almost certainly necessitates the assistance of a financial adviser, as well as individuals and firms who can offer research and quantitative data about a company's business operations. There are many materials available to help companies get started with their reviews, including:

• Additional resources for the firm
• Description of the business
• Reports on corporate social responsibility
• Reports that are long-lasting
• Annual reports are submitted every year.
• Statements of purpose

KPIs of Workplace Sustainability

Key performance indicators (KPIs) are important for any firm. Many companies, however, overlook the possibility of measuring sustainability KPIs. These help to keep track of sustainability progress and identify any areas where companies may be able to improve in the future. One of the most significant barriers to monitoring these KPIs is that the number of potential quantifiable KPIs is extensive and intimidating, making determine exactly what is vital to measure. However, below are some of the most critical KPIs to monitor when it comes to sustainability:

• Miles in the Supply Chain
• Consumption of energy
• Rate of Waste Recycling
• Efforts to save and enhance the environment has resulted in significant savings.
• Rate of Waste Reduction
• Carbon Emissions
• Environmental Sustainability Index for Suppliers
• Footprint of Water
• Rate of Product Recycling

Sustainability key performance indicators (KPIs) show your business where it can become more sustainable.

• How do you measure sustainability?
  • Sustainability is measured by assessing performance of Social, Environmental, and Economic principles. While a balanced treatment of all three is an ideal goal, it is not always achievable.
• What is KPI in ESG (Environmental, social, governance)
  • ESG key performance indicators, or KPIs, are trackable figures meant to help firms understand the environmental, social and governance impact of their operations.
• What are sustainability indicators?
  • A sustainability indicator is a metric that measures an organization's ability to deliver long-term stakeholder value. Sustainability indicators often relate to environmental performance, but can encompass social, governance, and economic metrics as well.

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The next couple of video is a brief explanation of what is a KPI.

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