Sustainability is becoming a success factor. As ESG performance requirements and scrutiny from investors and legislators is increasing, risk management throughout the value chain is essential. As relevance is being extended beyond the capital rating, companies must manage performance from environmental to social and governance in equal measures. The ability to manage, improve and demonstrate sustainability performance has become essential to realize long-term strategic goals and generate lasting, sustainable results.
The food and beverage industry has a significant potential to contribute toward the SDG goals. Its environmental planet impact is significant. Supply chains are complex with social and ethical risks in sourcing, for example. Moreover, the industry plays a vital role in increasing food security and improving consumer health.
Any one of these challenges are a tall order. But could inspiration be taken from the unequalled food safety collaboration? Risk management, sharing of knowledge and strategy to advance on food safety is an industry staple. Could the approach be extended into wider enterprise risk management areas, to similarly pioneer environmental or social impact?
To facilitate progress, new digital technologies and solutions facilitating trust, traceability and circular business models for example, are ready to aid progress and reward the right actions from companies and consumers.
Whether responding to legislative, investor or consumer demand, strengthening one’s ESG performance is becoming sustainable business for companies and our planet.
Talk to us about sustainability performance and ESG ratings.