As a world leader in technologically optimized mining solutions, Hexagon Mining wanted to improve the efficiency of 23,000 employees around the world and ensure their safety. More than 30 million spectators are expected to watch soccer this Thanksgiving. What can corporate leaders learn from coaches who are left behind? The latest IPCC assessment report is a loud and clear “code red” for humanity. We need immediate, rapid and large-scale reductions in greenhouse gas emissions just to limit warming to 2°C, which is still dangerous.
And, according to the World Economic Forum, the economic shockwave of the pandemic will immediately increase inequality. It requires a sustainability strategy that uncovers not only the organization at all levels, but also the partners in the supply chain and the entire ecosystem. At this point in its career, your organization should consider taking on a greater role in its industry to meet a collective sustainability agenda. This stage consists of developing strategic capacities and identifying what needs to change in your leadership model, your operating model and organizational structure, and your staff to help your company thrive in a sustainable world.
And it means ensuring that leaders are aligned and committed to making ESG and sustainability aspects part of the business strategy. Environmental sustainability, as described by Dunphy, Benveniste, Griffiths and Sutton (2000), emphasizes how companies can achieve positive economic results without causing any harm, in the short or long term, to the environment. While the article focuses on responding to COVID-19, these factors are relevant to organizations at any time. This means that everyone in your organization should receive information about ESG and sustainability aspects and should consider them part of their role.
If social sustainability focuses on improving social equality, economic sustainability aims to improve the standard of living. Ultimately, you can only execute your sustainability strategy if you bring together the ingenuity, energy and commitment of your staff. Social sustainability incorporates the idea of sustainable development as defined in the United Nations sustainable development goals. Once your leaders are aligned around a strong purpose of sustainability, it's time for everyone to participate in this crusade.
It involves helping all leaders to understand and adopt the language of sustainability and frameworks such as ESG, the Triple Bottom Line or the Sustainable Development Goals. Environmental sustainability aims to improve human well-being by protecting natural capital (e.g., this process identifies the most important and priority ESG and sustainability risks and opportunities for your organization and industry).