Sustainable development plan
Business and industry led humanity to progress, but not without negative impacts on the environment. Global warming and damage to natural resources now risk the future of our environment. How can industry and business reduce negative impacts and turn to sustainable development? Awareness and efforts to deal with their impact focus on trying to move to a lifestyle centered on activities that meet the needs of the present without compromising the ability of future generations to meet their needs. Pairing environmental and social interests with economic interests may lead the way to positive consequences.
Many countries in the global village have adopted laws and regulations that support sustainability and a sustainable development strategy. However, countries do not have the enormous economic means and capabilities that business corporations have. In addition to addressing social and environmental needs, business strategy models point to a relative advantage for corporations focused on sustainable development.
Strategic Plan for Sustainable Development
A strategic plan for sustainable development aims to improve the differentiation of the organization and its competitive advantage. Meeting these goals may be achievable by creating shared value between organizational economic values and social – environmental values. In this process, stakeholder dialogue initiated by the corporation may enable a focus on the selection of shared values. This process should be done in accordance with legal requirements and regulations. Measuring the plans against benchmarks and assessing their consequences contribute to their success. Employing the principles of Global Reporting Initiative standards GRI may offer tools to communicate the relevant information to stakeholders. It enables transparency in this process which in turn may cultivate trust and improve the corporation’s reputation.
The development of a green supplier chain and organization can be conducted in the context of developing a sustainable development strategy or separately from it.
Constructing steering committee to lead sustainability plan
- Setting in a strategy plan for sustainable development.
- Creating a management plan that defines short-term and long-term goals, including priorities for strategy implementation.
- Developing a work plan, milestones, and a budget for strategy implementation.
- Building an oversight and control systems in implementing the strategy.
Creating Shared Value
- Mapping and identifying corporate values with social and environmental values.
- Building a socio-environmental code of conduct in accordance with the corporation’s values.
- Developing work processes that correspond to the creating of shared value, for example, a Life Cycle Assessment or Circular and Integrative Economy.
Identifying material topics and socio-environmental analysis
- Mapping and identifying corporate activities consistent with sustainable development and formulating the material topics.
- Employing a stakeholders dialogue between the corporation’s internal and external stakeholders for the purpose of mapping and identifying the material topics.
Assessing the organization’s activity and the requirements of the law
Comparative examination of laws and regulations relevant to the corporation.
Creating reporting mechanisms using GRI standards
- Creating a social-environmental report that enables oversight, control, and reporting implementation of corporation’s strategy.
- Developing a methodology for periodic and annual reporting by the corporation.
Developing a green supply chain and green organization
Developing a sustainable supply chain management plan.
