Does your company choose sustainable targets that are easily achievable, so consumers and investors would have a good impression on your brand?
A University of Auckland Business School study claimed that many New Zealand companies do this practice. In other Asia-Pacific countries, such as Australia and Singapore, the study also found the same pattern among companies.
The university based its findings on almost 800 companies that reported their sustainability achievements between 2010 and 2014. It showed that no company used all of the 91 Global Reporting Initiative indicators. However, those in Australia and New Zealand reported the smallest number.
Sustainable reporting is also predominantly on a voluntary basis in many countries. For instance, a company may only choose to report its waste management initiatives, instead of its recycling efforts. If you plan to improve water consumption, there are many natural options for commercial water treatment systems.
Kiwi brands and businesses promote their sustainability achievements not just to win favour among investors, but also impress consumers. Businesses may no longer ignore the importance of being recognised as an environment-friendly brand, as many will likely patronise your product or service if you observe sustainable practices.
This is true for enterprises in other countries such as Singapore, where businesses have focused on gaining the trust of a younger consumer market. Millennials, for instance, are the most particular about a brand’s sustainability, and they won’t think twice about shunning a company with a poor sustainable record. In fact, sustainable brands have become popular in many countries that it has become a good way for companies to drum up more business.
Each country has a different set of reporting guidelines for corporate sustainability. In New Zealand, these standards may be different from most countries yet companies should strive to achieve environmental goals, even when it isn’t convenient for them.