Business and Sustainability

5 Takeaways from the Newly Established Global Compact Network Canada Peer-Review Reporting Program

UN_Global_Compact

By Megan Wallingford and Anastasia Ostapchuk of GCNC

Canadian companies identify 5 takeaways from the Global Compact Network Canada Reporting Peer-Review Program. 

This July, eight Canadian companies successfully completed the inaugural Global Compact Network Canada (GCNC) Reporting Peer Review Program.  We are delighted to announce that the winners of the first Canadian Peer-Choice Reporting Award are Teck Resources (Group 1) and BMO, Enbridge (tied for first place in Group 2)!

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VIDEO: A sustainability success story – less waste and more money for a French supermarket chain

intermarcheInnovation is simply looking at a problem in a new way. A French supermarket chain shows us a new way to think about an old problem with regards to food waste. Introducing ” the “Inglorious Fruits and Vegetables”  The biggest problem was being sold out – 1.2 tonnes of sales per store in the first two days.

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Want to beat your competitors? Embrace profitable good

Phillip Haid, Co-founder and CEO at PUBLIC

Phillip Haid, Co-founder and CEO at PUBLIC

Deloitte recently came out with its annual Core Beliefs & Culture survey that polls more than 1,000 executives and employees. The key takeaway was that 82% of respondents working at an organization that has a strong sense of purpose believe the organization will grow. Only 48% of those working for companies without a sense of purpose are hopeful about growth prospects.

Given the strong belief in the connection between purpose and growth, why do so many companies still hold such a narrow definition of purpose? And why do so many still think in charitable terms, framing their community activities separately from their core money-making interests?

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At Patagonia a view towards social outcomes, rather than charitable giving, drives bottom line results

YvonChouinard_DoGoDoSomething-700x418A legendary climber, surfer, entrepreneur and environmentalist, the story of Yvon Chouinard, founder of Patagonia, starts with the design, manufacturing, and distribution of rock-climbing equipment in the late 1950s.

By 1964, he produced his first mail order catalogue and by the end of the 1980s had built a very successful outdoor apparel company.

In the early 1990s however, after years of overambitious growth, the company was in turmoil. Chouinard recounts in a 2012 Wall Street Journal article that credit was cut off and the company was forced to make its first ever layoffs of 120 employees — one-fifth of its workforce.

Chouinard began to wonder whether he should quit. He went to a famed consultant who recommended he sell Patagonia for US$100-million and use the proceeds to do environmental good. “I seriously considered it,” Chouinard says.

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Keep the spotlight on the the true hero – 3 tips for telling your sustainability story.

Hero

It’s tempting enough for brands to want to talk about themselves – even truer when they are doing something good.

In today’s radically transparent social business marketplace, the reputation of a company extends way beyond its marketing to include its supply chain, manufacturing processes, employee treatment and customer engagement.

Likewise, full circle sustainability requires that companies overhaul how they source their ingredients, manufacture and distribute their products, and manage the waste they generate. Both of these realities place higher demands on time-poor executives and entrepreneurs, yet too many fail to recoup the costs of such efforts because they don’t share their sustainability story effectively.

In fact, almost all companies are guilty of three key mistakes that mean these investments of time, money and energy never build their brand or bottom line.

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