Sustainability is perhaps the biggest buzzword of 2021. No matter what area you look at today, sustainability is there. Manufacturing is perhaps the biggest problem area when it comes to sustainability, and many companies are looking to improve on this.
Renewable power sources are being researched and investigated across the world, and new manufacturing techniques tried out. One of the more popular ideas being put into place is circular manufacturing. This is where manufacturers reuse materials for more life cycles than normal. It is a regenerative process; for instance, new car parts could be made from old models.
The five areas of sustainability are usually defined as ecology, food, water, energy, and waste. Businesses across the planet are now taking bigger steps than ever to tackle the problems that society and the environment face.
Communication plays an essential part in sustainability, and your company needs to be on board if it wants to succeed.
What is sustainability communication?
As you are surely aware, the majority of companies that are seeking a bright future are concentrating hard on areas of sustainability. Firms are getting serious about their Corporate Social Responsibility. Investors are evaluating businesses on their Environmental, Social, and corporate Governance, or ESG, more and more.
Sustainability communication is a strategy for informing anyone with a vested interest in the company about the sustainable business methods that are in place. For some businesses, this could mean using the circular economy, or manufacturing method to reduce waste. For others, it may involve lowering emissions and preventing pollution, or reducing the amount of water used.
Communication is necessary to make sure all the stakeholders understand what the company is doing to become more sustainable, and how it is achieving its targets.
Why is sustainability communication so important?
For any business to be successful in the long term, it will need to adopt sustainability practices. However, there is no point in implementing a strategy to become more sustainable if no one hears about it.
There are many perks to running an energy-efficient business, and stakeholders want to hear about them.
If a business wants to bring in the best future employees, then communicating its sustainability strategy is essential. Investors will want to understand how a company is conducting its business as far as ethical and environmental concerns go. Consumers will also need to know that they are engaged with a company that believes in sustainability.
Consumers are where the buck stops in many regards. If a company is seen as not being environmentally friendly today, it will lose revenue as consumers switch brands.
What benefits does sustainability communication bring?
Communicating about sustainability brings about many benefits. Here are some of the perks of sustainability communication:
- Attract the best future employees
- Improved public relations
- Brand awareness
- Attract more customers
- Attract investors
- Can reduce risk
- Longer-term success
People today are far more aware of the environment and what businesses, especially manufacturing, are doing to help or harm it. These people are all potential employees, investors, or customers.
By bringing in a cohesive sustainability strategy, and then communicating it effectively, you can attract all these people to your company. This increases profit, awareness, and public relations.
What is the difference between ESG and sustainability communication?
This can sometimes be confusing as there are so many labels now concerning sustainability within business. ESG stands for Environmental, Social, and corporate Governance.
It is typically used by investors to gather data and make scores against certain metrics when considering an investment in a particular company. It looks at factors surrounding a firm’s social and environmental responsibilities and actions.
ESG communication concentrates on different areas than sustainability. ESG largely focuses on investors, financial departments, investor relation teams, and CSR and sustainability groups.
Notice Design focuses on sustainability communication, and they would show that this area communicates differently. Sustainability communication reaches investors along with consumers, employees, corporate communication teams, as well as anyone involved in CSR.
Where ESG is largely about finance and investment, sustainability communication takes in a much wider range of stakeholders.
What are five reasons to use effective sustainability communication?
There are numerous advantages to incorporating sustainability communication into your company, but here are just five of them.
1. It can add brand value and increase awareness
When it comes to Corporate Social Responsibility, Investopedia regards it as being inclined towards public relations and publicity. CSR itself is very worthy and most of the big companies today have a program in place.
Sustainability communication can also improve PR in the same way that CSR can. It can help increase brand awareness and add value too.
2. It can improve the chances of long-term profitability and success
Investing in sustainable practices forces a company to look at every aspect of its business processes. This can lead to more profitable manufacturing processes being implemented.
Also, by looking at sustainability, a company is preparing for a long future. Communicating this to stakeholders can increase the value of shares, and gain more consumers.
3. Risk will be reduced and managed more efficiently
While business practices are being investigated, they will be reported on. This communication will lead to you being able to reduce or eliminate, various risk factors.
4. You will engage with stakeholders
By communicating your sustainability strategy to stakeholders, you will be able to engage more effectively with them. You will receive a better sense of what consumers understand about sustainability.
You can mix with your customers through social media and your website. Employees will know where the company stands on environmental and social issues. Investors will have a clear understanding of the implications of putting money into your business.
5. To explain the results you are achieving
It is all very well having a strategy and communicating what it is. But, what about the goals that are achieved and the targets hit?
Sustainability communication doesn’t just explain what you want to achieve, it is a way to let your stakeholders know how well your company is doing.
How do you use sustainability communication effectively?
To have effective communication regarding sustainability you need to have certain things.
These include the following:
- Transparency
- Continuity
- Authenticity
- Results
- Engagement
You need to show that you are both authentic and transparent if you wish to build trust. Without trust, your stakeholders will not be willing to engage, and your efforts may be for nothing.
Actions speak, so you will need to communicate what your results are. You must show a willingness to engage with your audience and not hide away from discussions.
Lastly, you need continuity. If you have managed to build trust, prove yourself an authentic advocate of good environmental practices, then you need to keep this up. Letting the world know that your company has a sustainability strategy in place and then never following up on it, is pointless.
Summary
Sustainability work practices are helping to improve the way manufacturing and business take place. There is more focus on durability, recycling, and reuse than before.
Sustainability communication is all about involving your stakeholders in the process and making clear how your company is pushing forward. Employees will be more dedicated to you if they know that the company cares about the planet. Consumers are more likely to make purchases, and investors will trust you.