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towards improving economic, social and environmental performance. A
clearly articulated set of internal goals and a method for measuring achieve-
ment, and openness about current failings can all help to make a company
appear responsible and trustworthy;
There may be a more in-depth sustainability report or more extensive cov-
erage on the Internet for example. Some companies are even experimenting
with “real time” sustainability data being available to the public;
A commitment to honest and accessible public relations can help your
organisation to convey corporate information to stakeholders, including
Part E “ Case Studies of Business Risks
634



customers. Good press is an advantage, but bad press is bad for business.
The latter can be avoided in part by effective risk management of these
issues and the provision of readily available, credible information about
successes and failures;
Collaboration with critics, especially for companies that have experienced
criticism from NGOs or human rights organisations. No tactic does more to
convey the sincerity of a company™s efforts than an invitation to critics to
participate in the process of changing course;
Sharing technological and processes benefits with the wider community
will assist the overall sustainability of the marketplace and society, as well
as potentially increasing reputational capital; and
Supply chain engagement and training can lead to closer and more sustain-
able working relations.
Executive, business unit and even staff remuneration could be more closely
linked with these types of performance criteria as opposed to only traditional
ones i.e. health and safety compliance could be rewarded at high risk vulner-
able facilities rather than considering only the amount of units handled, etc.

Performance
Adherence to internal policies and external codes and standards, especially
where the organisation has publicly committed itself to them. These include:
codes of conduct; communication of standards through training; methods to
encourage employees to report possible violations to management; enforce-
ment mechanisms through investigation and discipline; and oversight and
review to achieve ongoing improvement;
Performance monitoring, measurement and reporting of the progress made
towards: economic, social, environmental and governance issues. Internal
and external communications can be used by the organisation to report on its
progress in achieving social, financial and environmental goals;
Internal and external auditing of performance data can assist senior manage-
ment reviews;
Using benchmark development by executives against which to measure
progress, companies can reinforce their commitment to stated objectives, and
alert employees and other stakeholders to areas where more effort is needed;
There is the opportunity of more tailoring of product and service offerings to
the specific needs of customers and countries;
Compliance and reporting of sustainability performance to a range of stake-
holders. This should include: a range of economic, environmental and
human resources based audits and assessments to measure compliance with
internal and external requirements. The results should be communicated
periodically to: directors, employees, shareholders, the authorities, cus-
tomers and other notable stakeholders; and
You can become the best and more sustainable by working with the best and
most sustainable. This could mean working to develop best practice with
membership and business associations groups, hiring sustainability related
consultants and selecting the most sustainable contractors for tasks. Such
Chapter 24 “ Conclusions and future trends 635



suggestions are of course not exhaustive but rather by way of example or
recommendation.


Chapter summary
A person with a new idea is a crank until the idea succeeds Mark Twain

Sustainability is not a new idea, although to a lot of decision makers within
society it is just that. Our wish is that the ideas set out within this book develop
in future editions as the journeys of the readers develop as well.
Wherever the organisation is located “ and regardless of its size or sector “
risk exists and a sustainable approach is both topical and timely in today™s
global economic era. Engagement of all, from top to bottom, internal and exter-
nal to the organisation, is crucial for sustainable risk management to fulfill its
potential. Much of what is required to succeed in this endeavor requires a com-
mon sense approach that will achieve overall improvement and satisfaction for
the organisation as a whole.
The philosophy of sustainability and the reduction of sustainability risks
that reduces impacts upon the planet, the people within organisations and the
customers of the same organisation should help to establish trust with cus-
tomers and a reputation for being “fair” and doing the “right” thing. The organ-
isation that can increase its profit, improve the condition of people and have a
reduced impact upon the planet are on their way to becoming sustainable and
durable.
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