Sustainability should be a strategic issue for any organisation as the benefits can be immense. Corporate sustainability contributes to business value whether through revenue generation, cost control, risk management, or building trust. CFOs, with their teams, must drive the performance of sustainability strategies in their organisations.
Drivers and meaningful outcomes relating to sustainability and its value can be measured by applying a sustainability performance management (SPM) framework. This demands well thought- out and consistent metrics, systematic process and appropriate use of technology.
The CFO is ideally placed to measure and help maximise business value from sustainability. The finance function has visibility into every part of the organisation and the CFO usually fulfils key compliance and risk management roles. CFOs who nurture the cross-functional skills of both sustainability and finance professionals and find ways for them to work seamlessly together will see more opportunities to grow value for stakeholders.
This tool is intended to help organisations uncover, measure and maximise the value from corporate sustainability. To achieve this Chartered Global Management Accountants must monitor activities using a sustainability performance management approach, and the five key steps to making this happen are outlined in this tool.
Excellent article. The CFO''s support is critical if sustainability intiatives and strategies are going to move forward in an organization. The emphasis on ensuring that sustainability is a strategic initiative is also right on target. A well thought out sustainability program will provide organizations that embrace this initiative with higher returns than organizations that do not have sustainability programs.