Many companies have existing sustainability initiatives, comply with regulatory requirements, and provide support during disasters. However, a large portion of these companies do not have a defined focus to their efforts and have not aligned the positive impact from their sustainability efforts to corporate strategy, brand and value creation.
This leads to value leakage. PwC's " Sustainability strategy and management frameworks" proposition has been designed to address these issues and more.
Sustainability is about managing the triple bottom line and generating shared value from companies efforts and investments. PwC can help you identify the sustainability issues and risks that matter most to your stakeholders and assess which of these would bring the most value to your company, society and/or the environment. We can then help you define your sustainability vision to support your corporate strategy and develop a strategy roadmap and implementation plans to realise the value.
PwC was engaged to develop the sustainability strategy and framework for the company through analysis of stakeholder focus, corporate strategy, value drivers and sustainability risks. Subsequently, we provided recommendations for CR gaps identified based on the findings from our research and understanding of the company’s CR practices. The strategy helped focus the company's sustainability efforts towards three key areas, where the emphasis was on value creation towards its stakeholders.
As the recent recession has demonstrated, risk can no longer be confined to one company, country or continent. It pervades every decision a business takes and, left unmanaged, can result in fines, business failure and even prison. Risks related to sustainable development interconnect with many other risk areas – from climate change to water scarcity, demographic shifts to resource availability, land use to labour rights. Similarly, regulation around sustainability issues continues to expand and company law reform has sought to make more explicit the responsibilities of the board towards social, ethical and environmental impacts. PwC can help to identify and assess the sustainability risks associated with a company’s operations and develop a sustainability risk management strategy to reduce the impact of potential risks.
PwC was engaged to identify and assess the sustainability risks for the client, with operations in plantation, construction and energy & utilities. The work helped to create awareness of potential sustainability impacts, mitigation initiatives to reduce the risks and feed into strategy setting.
Sustainability drives a key paradigm shift from investor focus to a broader stakeholder focus. As global connectivity and supply chain complexity increases, so does the influence of stakeholders. The intangible value component of market value can be impacted by loss of trust resulting from environmental accidents, poor labour standards, disgruntled employees, incorrect product labelling and other factors. Companies that do well, inevitably place a focus on engaging and managing their key stakeholders. PwC can help prioritise your stakeholders, identify the key sustainability issues that matter to them, engage them as an independent party to solicit their feedback, train your team to manage stakeholder engagement, and incorporate the feedback into your strategy and plans.
WWF is working with the 3 Borneo nations to conserve 220,000km2 of rainforest - almost 1/3 of the island - through a network of protected areas and sustainably-managed forests. PwC conducted a private sector engagement to gauge the understanding and readiness of the timber, pulp and paper, palm oil and mining sector to support the delivery of a tripartite agreement for sustainable development in the HoB. The engagement process involved more than 50 detailed interviews with various stakeholders, as well as industry focused workshops in KL and Jakarta. The outputs from the engagement resulted in a public-facing report and a Green Economy Scoping Study, which analysed the current situation across the HoB and the global response to the green economy.
Defining a sustainability strategy is only the first step in a company’s sustainability journey. A structured approach is required to implement a robust and effective sustainability management programme and this can be achieved by developing a strong management framework. PwC’s Sustainability Management Framework links corporate strategy to action that delivers real change. We leverage our core consulting skills to embed good sustainability management practices into your organisation – from policies and procedures, job description and organisational structure, to systems infrastructure and financial accounting. We bring practical viewpoints from practitioners with a mix of industry and consulting experience.