Background
A listed financial institution was facing increasing pressure from employees and investors to improve their sustainability credentials. They realised that sustainability was no longer a buzzword, but a key perspective with potential positive and negative impacts for their business in the long run. They approached Sustainable X for guidance on how to establish a plan to move towards a more sustainable future.
Business Case
We held two workshops, one with the leadership team and one with employees, to establish the most material impacts and a clear business case for sustainability across the organisation. We discussed how sustainability initiatives could help them reduce costs, improve their brand reputation, and drive long-term growth. Additionally, we highlighted the importance of staying ahead of regulatory requirements and investor expectations.
Process
After the workshops, we collaborated with them to develop a sustainability plan that would align with their business goals and objectives. We conducted a sustainability audit to identify areas for improvement and established a timeline for implementing various sustainability initiatives.
Outcome
The most significant return on investment came from a significant reduction in staff turnover, especially in the fight for top talent. Employees are more engaged and prouder to work for a company that prioritises sustainability. Secondly, they are now seen as leaders in their industry on sustainability, which has enhanced their reputation and attracted new clients. Finally, they have developed programs that will support their clients and finance climate impact in the future.
Conclusion
In conclusion, this bank recognised the importance of sustainability and took action to implement initiatives that align with their business goals. As a result, they have experienced multiple positive outcomes, including employee engagement, enhanced reputation, and a competitive advantage. They have set an example for other financial institutions to follow, and we look forward to supporting them on their sustainability journey.