Are your competitors better prepared?
Two important questions
1) How will your company or organisation benefit from the transition to the Sustainable, Circular Economy?
2) Are your competitors better prepared, gaining a competitive advantage?
Your competitors will gain a competitive advantage if they are better prepared/preparing for:
- Changes and stricter regulations regarding emissions, adjusting their products and services accordingly.
- An unprecedented drive towards sustainability. With ambitious legislative changes backed by €1 trillion investment over the next decade, the EU is signalling leadership in efforts to advance sustainable development and tackle climate change.
- Changes in buying patterns and investment decisions taken by newer generations which are overwhelmingly pro-sustainability.
- Stricter stock exchange rules (World Federation of Exchanges (WFE) fully aligned with GRI Standards)
- The EU Directive: Large Companies must report non-financial information
- Investors who want to see that a company is well-prepared for the foreseeable future.
- Ever growing supply chain pressure. Companies are choosing to do business with corporations that can provide sustainability-related information and data and can demonstrate that they are aware of environmental, economic and societal risks, taking continuous action. These companies are looking for long-term, sustainable relationships.
- The European Sustainability Reporting Standards (ESRS), holding all large EU companies accountable for their sustainability impacts. Under the EU’s Corporate Sustainability Reporting Directive (CSRD), the ESRS will apply to 50,000 companies across the EU from 2024. Non-EU companies with substantial activity in the EU (with a turnover over €150 million euro in the EU), will also have to comply.
- New ESG rules and regulation globally, such as the Securities and Exchange Board of India (SEBI) regulations in India.
A good GRI Standards CSR/ ESG/ SDG/ Sustainability Report will help you make sound sustainable development decisions and help you gain competitive advantage.
Also read:
• GRI Standards: A principled approach to sustainability action
• License to operate – Millennials
• Laying the foundation for good communication with responsible CSR/ sustainability reporting
Simon Pitsillides
Sustainability Reporting and Marketing Communication Strategy Expert. Simon is a Fellow of the Chartered Institute of Marketing (FCIM) a Fellow of the Institute of Environmental Management and Assessment (FIEMA) and a Chartered Marketer, and holds an MBA in Marketing. He is a GRI and IEMA Trainer, the publisher of www.sustaincase.com and owner of www.fbrh.co.uk. Simon teaches the FBRH GRI Standards Certified, IEMA & CIM Recognised Course (venue: London School of Economics (LSE).
https://www.linkedin.com/in/simon-pitsillides
78% of the world’s 250 largest companies report in accordance with the GRI Standards
SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.
Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.
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