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Sustainability in Business = 51% to 81% MORE PROFIT (CSR) - YouTube
Channel: Sustainability Illustrated
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Hi Alex here. What is the business case
for sustainability?
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Is there reliable evidence that
quantifies the value of a company
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integrating sustainability into its
corporate DNA? Turns out the answer is 'yes'
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for this video we'll draw on the work
of business sustainability guru Bob Willard
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after working thirty four years with a
IBM Bobcompleted first
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a masters and then a doctorate on the
business case for sustainability at the
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University of Toronto
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he is the author of several books and is
considered a global expert on this topic
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let's see what Bob has to say on the
business case for sustainability
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first the language nowadays we hear
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everything from the word sustainability to triple bottom line
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to the three Es equity environment
economy
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the 3 P's people planet profit CSR
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corporate social responsibility and so
on what's important to realize from a
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business perspective
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is that while all these words are
relevant and some will resonate with your
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company culture
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better than others for example words
like "profit", "Asset Management"
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et cetera what we are ultimately talking
about here
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he's being a steward of the five
capitals in a way that helps your
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business be more successful
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these are financial and manufactured
capitals
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related to the economy human and social
capitals related to equity
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and natural capital related to the
environment because
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everything comes from nature at some
point for more on this last point
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and the triple bottom line see earlier videos all the different terms you hear about
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all refer to the same thing managing
today while preparing for tomorrow
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in ways that sent your business up to be
resilient in light of changing
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conditions
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the important thing is to choose your
language make sure everyone understands
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and is using the same definition
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and then stick to it second the numbers
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we can't talk about business without using
numbers right now that we know what
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we're talking about
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how do we know whether integrating
sustainability into our corporate DNA
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will actually help us to steward our five
capitals in ways that generate revenue
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and mitigate risk? Based on years of
research and hundreds of case studies
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Bob Willard showed that if a typical
company were to use best practice sustainability
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approaches
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already being used by real companies a
small or medium enterprise
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six employees and about one million
dollars of annual revenue
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could improve its profit by at least 51
percent
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and a large manufacturing or
distribution company
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several thousand employees and about
five hundred million dollars of annual
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revenue
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could improve its profit by at least
81 percent compared with
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if he did nothing there are seven
bottom-line benefits that align with
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current evidence
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about the most significant
sustainability related contributions to
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profit
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one increased revenue 9 percent
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reduced energy 75 percent reduced waste
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20 percent four reduced materials
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10 percent five increased productivity
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2 percent six reduced turnover 25 percent
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and seven avoid a potential 16 to 36
percent
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erosion of profits due to reduced risks
coming from
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additional revenue and fewer expenses
the first one is about making more money
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two to six are about fewer expenses
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and seven is a combination of more
revenues and fewer expenses
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due to reduced risks altogether it's
true!
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just by doing what others are already
doing a business can increase
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its profit by 51 to 81
percent within three to five years
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and keep in mind that this is only about best practices
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innovation and creating better products
and services can take you even further
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this is well documented and you can go
to sustainabilityadvantage.com to
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enter your own numbers for your own
company
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it's all free and open source
sustainability is just smart business
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that's the bottom line and the numbers
we've discussed are just the tip of the
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iceberg when it comes to the business
case for sustainability
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I'll come back with many more videos
about the business case in the days
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ahead
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and also videos on making sustainability relevant for the business
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community
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so stay tuned subscribe to receive the
new videos
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thank you to Bob Willard for all his
great work and also for being a patron
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Sustainability Illustrated
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if sustainability education is
important to you, you too can become a
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patron
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and make a pledge on Patreon.com/sustainability
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as usual thank you to our patrons we
can't make these videos without you and
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thank you for watching.
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