Taking environmental and social practices seriously is crucial for business owners seeking a competitive edge. Because not only can it lead to immediate gains, but it also contributes significantly to the company’s long-term success.
To demonstrate how impactful sustainability can be, we’ve compiled five compelling success stories from 2023:
A supplier code of conduct is a guideline that requires businesses to demonstrate the environmental and social impact of their operations.
IWAY has been IKEA’s code of conduct supplier for over twenty years, and they’ve found success through ESG reporting, which is when a company publicly discloses to all stakeholders the negative effect the organisation has on:
Revealing IKEA’s negative environmental and social issues created transparency for investors and allowed the organisation to implement short and long-term strategies to improve and meet sustainability and social impact goals.
ESG reporting has allowed IKEA and IWAY to evaluate:
And in 2022/23 alone, it has resulted in IKEA:
H&M’s “Let’s Close the Gap” project, initiated in 2013, collects and categorises discarded clothing to reduce waste and give them new life. Wearable items are restored and given to new owners, while worn-out garments are recycled for reuse.
Not only that, but they reward customers who bring in old clothes with discounts, creating a complete circulatory economy (CE) loop.
Forbes reported that 57% of H&M’s raw materials were sustainable by 2019, with the company aiming to achieve 100% sustainability by 2030.
Gender inequality remains a continual issue in the workplace, seen through gender pay gaps and occupational segregation. In 2015, the workforce of software engineer Gusto was 95% male and 5% female.
It was such a strikingly one-sided figure that employee and pioneering female engineer, Julia Lee, forced her employer to launch HR initiatives to address inequality, prioritising female engineer recruitment and implementing anti-bias policies.
By the end of 2015, the female engineer ratio at Gusto rose to around 20%, and by 2018, 50% – a percentage that remains with only slight fluctuations to this day.
HSBC has committed to investing $100 billion in sustainability projects by the end of 2025. To ensure funding for green projects, HSBC developed an ESG risk evaluation framework in 2019, which has since been enhanced. And in recognition of its ESG practices, it received an AA rating from MSCI (Morgan Stanley Capital International) in 2021.
HSBC aims to source 100% of its electricity from renewable energy by 2030. As well as reducing its consumption of paper and single-use plastics.
Airbus has partnered with Materialise, a Belgian company specialising in 3D printing on an industrial scale. And it’s set to call massive distribution to the aviation industry as it’s:
Printed parts are up to 45% lighter, which results in lighter planes that burn less fuel. Airbus als believes 3D printed parts could reduce greenhouse gas emissions by up to 465,000 metric tons, equivalent to taking 100,000 vehicles off the road for a year.
If you want to reduce carbon emissions to create your success story, speak to us.
Working with Certified Sustainable means you can achieve sustainability accreditation through our Sustainability Impact Reports (SIR).
Our SIR reports evaluate and measure your environmental impact, providing a comprehensive picture of where you are now and what you need to reach your sustainability goals.
To learn more before committing, check out our article, How will a sustainability impact report benefit your business?
