By Vijay Kanal from the excellent Greenbiz.com
In our research, and in engagements with dozens of Fortune 1000 companies, we are sometimes surprised at the reluctance to pursue environmental sustainability initiatives, because of misconceptions about their cost or benefits. But we have also seen how some companies have embraced sustainability whole-heartedly, and are profiting from it. As a way of helping to get every company on the journey to sustainability, here are some of the most common myths we have heard from otherwise successful companies. As surprising as some of these might sound — like the idea that there is no money to be had from sustainability efforts — these ideas persist in companies large and small and in any industry.
1. It’s a cost and we can’t afford it right now
Sustainability should be considered not just because it is the right thing to do, but also because it makes business sense. If an initiative cannot be justified from a strategic, financial, operational, marketing, or employee recruitment/retention perspective, don’t do it. But we have found that in almost every corner of an organization there is a fundamental business reason for being more sustainable.As Richard Goode, Director of Sustainability at Alcatel-Lucent told us recently, “In good times, sustainability can be a competitive differentiator, in lean times, it’s a defensive strategy, and in really hard times, it can determine your survival.” Xerox CEO Ann Mulcahey shares this view saying that being “a good corporate citizen” saved the company from bankruptcy. Refer to Myth #3 to see how companies have made money from their sustainability investments.
2. It requires lots of staff
A related myth is that sustainability efforts require a big centralized staff to drive and support. In fact, we have found the opposite to be true. At most of the leading companies we have researched, the sustainability team staff size ranged between one and four employees, even at companies as large as AT&T. The role of these groups is to work with the various functions across the organization and with senior executives, to develop a strategy, formulate goals, co-ordinate activities and report on progress. Many of the heads of sustainability we spoke with us told us that in the ideal world there wouldn’t even be a need for such a group, as sustainability would be integrated into every facet of the company’s operations and products. But until business reaches this ideal state, a small, centralized staff will continue to be necessary.
3. There’s no money to be made from sustainability
Sustainability offers innovative firms opportunities…CONT