Could the ‘new code’ that Unilever and Google have signed up for end Greenwashing for good?
Could the ‘new code’ that Unilever and Google have signed up for end Greenwashing for good? Could the ‘new code’ that Unilever and Google have
In a brand eat brand world - is sustainability forcing survival of the fittest?
By STAR Index
Sustainability and Brand Survival. Brand protection is more important than ever, with blue chip brands often getting it wrong – take Nestle USA, who had a class action lawsuit filed against them in 2019 claiming that the food giant’s supply chain involves child and slave labour.
It’s not a secret that supply chains are complex and can hide an array of issues, and it only takes one of these to come to public light for large name brands to be destroyed.
Brand Survival through Sustainability
- For brands to remain relevant, you have to follow your consumer. More than 28% of 18 to 34-year olds said they have convinced someone else to stop using a business or service because of practices they didn’t agree with compared to just 6% of those aged 65 and over, and 26% would stop using a business if it had caused an ecological problem or catastrophe.
The general public, shareholders and consumers are taking a long hard look at brand’s sustainability commitments, goals and track record. It’s not just price and quality that define a consumer’s decision to use a brand.
- Sustainability issues will impact your bottom line. Measuring your sustainability risks and creating a plan to tackle these will provide long-term value. Larger brands are building whole sustainability teams and appointing sustainability CFO’s which can be very costly.
ESG and sustainability strategies should be incorporated into your main business goals, not put onto a long forgotten web page akin to ‘ticking a box’.
- IKEA was considered a trailblazer in sustainability until June 2020, when the furniture retailer was implicated in illegal logging in Ukraine. In a report by NGO Earthsight, the wood certification scheme IKEA uses, Forest Stewardship Council, was described as an organisation that greenwashes the timber industry. It was accused of failing to catch IKEA’s sourcing of conflict wood, and act on it.
Not only that, when IKEA built its “most sustainable store” yet in London in 2019, it did so on top of another sustainable store that was demolished after just 17 years of use.
Greenwashing and greenwishing only exacerbate the problem. You need to set clear defined commitments and show progress towards these.
Brand protection is more important than ever!
So, how do you ensure your brand will survive in the vast array of companies that are not getting it right? You need the right tools, dashboards and numbers to actually truly dissect your supply chain and identify any risks. That’s where we come in. STAR Index delivers actionable insight, as accountability in your supply chain requires full visibility.
We provide easy to use intuitive dashboards to demonstrate progress in delivering science based targets relevant to your business and its supply chain to all stakeholders.
Your supply chain may also have additional sustainability risks, modern slavery risks, land & natural asset usage risks. Every supply chain has ESG risks that STAR Index can help you measure, report and mitigate.
You no longer need a full team to dedicate their 8 hour working day to identifying your supply chain risks, our software does that for you.
Request a copy of this post as a PDF
Share:
Share on facebook
Facebook
Share on twitter
Twitter
Share on pinterest
Pinterest
Share on linkedin
LinkedIn
Related Posts
Building nutrient neutrality into your housing development
Building nutrient neutrality into your housing development Building nutrient neutrality into your housing development Housing developments for up to 120,000 new build homes have been
Is mandatory sustainability reporting coming for food and beverage companies?
Is mandatory sustainability reporting coming for food and beverage companies? Is mandatory sustainability reporting coming for food and beverage companies? The Investor Coalition on UK
It’s not just about Carbon
It’s not just about Carbon By Surinderpal Singh It’s not just about Carbon The quest to become more sustainable is giving businesses carbon tunnel vision.
STAR Index at Reset Connect | Stand F700 | 28th & 29th June 2022 ExCel London
STAR Index at Reset Connect | Stand F700 | 28th & 29th June 2022 ExCel London STAR Index at Reset Connect STAR Index are excited
