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Junxion webinar: Corporate Social Returns and why materiality is essential to brand success
- 1. Corporate Social Returns and why materiality is essential to brand success
- 2. Adam Garfunkel Owner & Managing Director Mike Rowlands President & CEO
- 3. Today’s learning goals: ‣ Identify and prioritize the social and environmental responsibility issues that are most relevant to your business ‣ Decide on, and develop a plan to engage relevant stakeholders—both leading and listening effectively in conversations on material issues ‣ Align sustainability and social responsibility with brand and communications to accelerate both impact and market awareness in an approach we call Corporate Social Returns 4
- 4. Corporate Social Returns 6 Download our guide at http://junxion.com/csr-guide/ Pre-CSR / mainstream Basic CSR Proactive CSR Integrated CSR Transformational CSR Non-financial issues or outcomes not considered in operational decisions /“one- dimensional” decisions CSR priorities are determined by leaders’personal preferences and/ or are an afterthought to normal operations CSR is regularly considered in brand, strategy and operational decision-making CSR is a strategic requirement for every part of the company’s brand, strategy and operations The company is one component in a mission for social change that transcends the bounds of the corporation
- 5. Materiality
- 6. What is Materiality? Materiality analysis evaluates the costs, benefits and risks associated with your business activities from both your company’s and your stakeholders’ points of view. The purpose of materiality analysis is to help you decide which CSR activities, policies and investments you should prioritize. 9 “ ”
- 7. What is Materiality? Material issues are.... ‣ Important to stakeholders ‣ Important to the success of the business (and this is understood in more broad terms than simply financial success) ‣ Reasonably within the ability of the business to influence. 10
- 8. How to identify material issues 11 Long List Short List Validate ‣ Resources might be: • media mentions • existing industry guides • what peers do (benchmarking) • legislation • enquiries • previous stakeholder dialogue results ‣ Interviews better than questionnaires ‣ Ask stakeholders what matters ‣ Agree on a scoring process (weighted?) ‣ Establish thresholds for high/medium/low materiality ‣ Engage senior management ‣ Also consider external stakeholders
- 9. You can start now Identify and prioritize issues
- 10. Example LOW HIGH MATERIAL ISSUES HIGH HIGH 13 How much business risk associated with social, environmental, and economic impacts of the issue How much does this issue influence stakeholder assessments and decisions Child Obesity Carbon Footprint Manufacturing Labour Standards based on a garment manufacturer
- 11. Example LOW HIGH MATERIAL ISSUES HIGH HIGH 13 How much business risk associated with social, environmental, and economic impacts of the issue How much does this issue influence stakeholder assessments and decisions Child Obesity Carbon Footprint Manufacturing Labour Standards based on a garment manufacturer
- 12. Example LOW HIGH MATERIAL ISSUES HIGH HIGH 13 How much business risk associated with social, environmental, and economic impacts of the issue How much does this issue influence stakeholder assessments and decisions Child Obesity Carbon Footprint Manufacturing Labour Standards based on a garment manufacturer
- 13. Business Risk Associated with Economic, Environmental, and Social Impacts LOW InfluenceonStakeholderAssessmentsandDecisions HIGH MATERIAL ISSUES HIGH HIGH Sustainable Transportation in Supply Chain Product Lifecycle and Waste Carbon Footprint Child Obesity Workplace Health and Safety (licensed contractors) Chemical Sourcing Material Inputs Labour Rights Workplace Health and Safety (direct contractors) 14 Example Low Medium High this business Level of control this business has on these issues/impacts based on a garment manufacturer
- 14. Know your issues Knowing what your material issues are helps you to: ‣ Ask stakeholders better, more specific questions about their needs and concerns ‣ Offer clearer, more concrete commitments in return ‣ Give others a clear sense of your priorities Where are you committed to act, advocate, or support efforts to change things? 15
- 15. Top Tips ‣ Use a standards-based approach. Clear metrics and measurement help! ‣ Leading resources include: • Global Reporting Initiative (for medium and large corporations) • Demonstrating Value (for small business and social enterprise) • B Corporation (a good comprehensive assessment) ‣ Use existing information sources: industry associations, allies in your industry, etc. ‣ You don’t have to do it all yourself! Others are interested in the same challenges, and are happy to provide help. 16
- 16. Brand
- 17. What is a Brand? Brand is the public face of strategy. 18 “ ”
- 18. What is a Brand? The AVID™ Model: ‣ Authenticity ‣ Value ‣ Inspiration ‣ Distinctiveness 20 ‣ How well does your brand demonstrate its stated values through time? ‣ Ben & Jerry’s uses business to drive impact: • 1% for Peace, Rock the Vote campaigns • Direct grants to grassroots organizations • Strict adherence to fair trade ingredients • Using the iconic pint packages to advocate for marriage equality • AmeriCone Dream flavour with Colbert
- 19. What is a Brand? The AVID™ Model: ‣ Authenticity ‣ Value ‣ Inspiration ‣ Distinctiveness 21 ‣ Is your brand clear in its expression of value, and does it deliver, as promised, to key customer segments? ‣ More than financial: a complex mix of actual and perceived value ‣ Consider the value of sourcing locally from Greyston Bakery
- 20. What is a Brand? The AVID™ Model: ‣ Authenticity ‣ Value ‣ Inspiration ‣ Distinctiveness 22 ‣ Does your brand resonate at an emotional level? ‣ Easiest when brand is connected to purpose beyond profit:“We don’t hire people to bake brownies; we bake brownies to hire people” ‣ What impact is Ben & Jerry’s having inside Unilever? ‣ An inspiring vision attracts allies, staff, and customers
- 21. What is a Brand? The AVID™ Model: ‣ Authenticity ‣ Value ‣ Inspiration ‣ Distinctiveness 23 ‣ Does your brand stand apart, delivering a unique and relevant opportunity for customers? ‣ ‘Differentiation’ vs. ‘Distinction’ ‣ Ben & Jerry’s is social impact ice cream: “Tastes great. On purpose.”
- 22. It’s about Purpose and you can act on it now!
- 23. Building your CSR brand 25 Pre-CSR / mainstream Basic CSR Proactive CSR Integrated CSR Transformational CSR Philanthropic partner Corporate and staff giving Matching funds Offer time and expertise Second staff Joint campaigns Talk publicly Embed sustainability and social responsibility Identify shared concerns Engage your value chain Engage competitors, join or lead coalitions Develop sector standards Social innovation Systems thinking Incremental or disruptive change?
- 24. Measurement Tie measurement to storytelling ‣ Measure to learn and improve ‣ Share insights along the way • Share stories of success as well as failure ‣ Begin with the reader in mind: • What can you help them learn from your experiences? • How can you help move us all toward‘the change you seek?’ 26
- 25. Materiality and Brand: foundations for success in CSR
- 26. Materiality and Brand ‣ Materiality and Brand are the glue that bonds: • Vision for change • Business strategy • Accountability for performance ‣ Both are rooted in awareness of, and respect for, context. ‣ Strategic management of materiality and brand lives in the“space between” traditional approaches to business and non-profit management. 28
- 27. TrustBrands™ ‣ The TrustBrand™ approach unites: • Values-driven leadership • Inspired communications • A rigourous CSR model • A holistic approach to strategy ‣ When you’re confident in your impact you can be bold and audacious ‣ Underselling your impact is a more common problem than companies “green washing” 29
- 28. Top Tips ‣ Build a foundation: Don’t rush past brand and materiality ‣ Get buy-in: Ensure team leaders are engaged before proceeding ‣ Cultivate empathy: Build a resilient team and organization for the hard work ahead ‣ Learn what you can control: Know where to focus, and what to leave for others ‣ Seek collaborations: Work with other organizations to develop promising ideas ‣ Don’t go alone: Look for targeted support where and when you need it 30 Download our guide at http://junxion.com/csr-guide/
- 29. #ShiftYourThinking Let’s make responsible business mainstream Adam Garfunkel adam@junxion.com @adamgarfunkel1 Mike Rowlands mike@junxion.com @mrowlands www.junxion.com @junxion