Held annually on 22 April, Earth Day symbolises a collective commitment to addressing pressing environmental challenges, from climate change to biodiversity loss.
This year, under the theme, ‘Planet v Plastics, Earth Day’s focus sharpens on one of the most critical environmental dilemmas of our era: plastic pollution. With a shocking 380 million tons of plastic churned out annually and only nine percent ever finding its way into recycling streams, the call for immediate action is more important than ever.
It was a timely moment last week for a training session on corporate sustainability at the University, led by Inma Ramos, Associate Professor in Management, Business and Law, also Director of the University’s Institute of Corporate Sustainability.
The session kicked off with a look at how corporate sustainability first began in its current form, with the UN Compact in 2015 setting 10 Principles and 17 SDGs – high level aspirational targets.
So what, according to the UN Compact, is corporate sustainability?
It is a company’s delivery of long-term value in financial, environmental, social and ethical terms.
Inma Ramos outlined that sustainable management is NOT carrying out some socially friendly initiatives such as helping local schools or undertaking some corporate environmental initiatives such as a Green Day.
It’s much broader – sustainable management affects all functions and levels of a business, encompassing the three pillars of environmental, social and governance (ESG), representing the three main topic areas that companies are expected to report in.
What are the top tips to taking a practical approach to sustainability?
- Understand the impact of a business on the environment, society and economy
- Engage all stakeholders
- Consider the entire value chain and business relations
- Take a top-down approach which is also cross-functional
- Consider initiatives regarding both avoiding negative impact but also creating positive impact – innovation
The Earth Day website is a mine of information if you’d like to explore sustainability in more detail. Test your knowledge on environmental issues and sustainable solutions by taking a quiz, find an event near you or watch Earth Day live.
