How can you measure and set sustainability targets?

Begin with establishing a baseline by analyzing sustainability metrics within your organization. Next, benchmark against industry standards and competitors to gauge your position. Crucially, consider stakeholders—internal, external, public, private, and the community—and tailor your KPIs to what matters to them, aligning with the BMPs of your industry. Setting SMART (Specific, Measurable, Achievable, Relevant, Time-bound) targets that resonate with your sustainability goals is pivotal. The implementation of a detailed action plan, followed by consistent monitoring and reporting of progress, lays the groundwork for success. Industry certification programs offer valuable guidance and a path forward in achieving sustainability benchmarks.

Scope 3 (supply chain) has the biggest impact on most companies' Carbon Footprint. So it's important also to analyse products through Life Cycle Analysis (LCA). - Take the Top Performing Products from your portfolio - Conduct LCAs - Determine the top priority for carbon reduction in short, mid and long-term (SMART goals: Specific, Measurable, Achievable, Realistic, Timely) Then incorporate this into your global Corporate plan.

Identifying the most critical sustainability issues pertinent to your business operations is pivotal. Focus on determining the aspects of your business that significantly impact the environment, society, or stakeholders. Engage stakeholders, conduct surveys, and perform comprehensive analyses to prioritize issues that align with your organizational values and stakeholder expectations.

From Scope 3 (Supply Chain) analysis, and product LCAs (Life Cycle Analysis), as well as looking at upcoming materials regulations (packaging, waste, manufacturing, etc.), define the top priority for phasing out or improving materials sourcing.

Looking at regulations gives also an indication on the future of materials and the potential risk to your supply chain. Once measurements have been taken to remove or change material, conduct a new analysis (LCAs - Life Cycle Analysis) to ensure your actions have the expected impact. Some decisions might be counterproductive when looking at the full picture.

Measuring and setting sustainability targets begins with a thorough assessment of current performance, identifying material issues that impact your business and the environment. Benchmarking against industry standards is crucial to understand where you stand, and hint at areas to improve. SMART targets—Specific, Measurable, Achievable, Relevant, Time-bound—provide a clear path forward. Implementation should be followed by diligent monitoring and reporting to gauge progress. Always consider the broader impact of your actions on community and ecosystem health.

Translate your sustainability targets into actionable steps and incorporate them into your business strategy. Develop a comprehensive action plan outlining the initiatives, policies, and changes necessary to achieve your set targets. Assign responsibilities, allocate resources, and establish a timeline for the implementation of these measures.

Setting a sustainability strategy requires constant monitoring, of regulations and impact to ensure increased performance. Come measures may be counterproductive, so tracking progress is key to ensure a smooth transition into a genuinely more sustainable business strategy. Don't just measure Carbon impact, but also waste, and social impact for instance. Sustainability is complex and will take years to streamline. Resilience and Consistency is key.

Encouraging sustainable practices among employees, we set targets for behavioural changes. This included measures like reducing paper usage, increasing use of public transport, and participating in company-wide sustainability initiatives. In a consumer goods company, we focused on material efficiency and waste reduction. By measuring current waste levels and identifying areas for improvement, we set targets for reducing waste generation, increasing recycling rates, and improving overall material efficiency in production processes. Conducting energy efficiency audits has been a part of my work in various organisations. These audits identify areas where energy usage can be reduced. Targets are then set based on potential savings identified.

Continuously refine your sustainability targets based on evolving industry standards, technological advancements, and stakeholder feedback. Engage in ongoing dialogue with stakeholders to ensure your targets remain relevant and aligned with their expectations. Embrace innovation, foster collaboration, and be open to adapting strategies to better meet sustainability goals in an ever-changing landscape.

In measuring and setting sustainability targets, clarity is paramount. Ensure transparency by involving stakeholders early, informing the community about the what, why, and how of measurements, and providing a platform for questions. Once everyone understands existing sources and baselines, discussions can focus on viable technologies to reduce emissions or footprints. Communicate the reasons behind infeasible technologies to maintain trust and foster informed stakeholder engagement.