How can stakeholder engagement support a low-carbon economy?

Stakeholder engagement is pivotal for a low-carbon economy. By involving diverse stakeholders—businesses, communities, and policymakers—it fosters a shared commitment to sustainability. Transparent communication ensures buy-in, encouraging adoption of low-carbon practices. Engaging with investors and consumers creates demand for eco-friendly products and investments. Collaboration facilitates knowledge exchange, innovation, and policy advocacy, driving systemic change. Ultimately, stakeholder involvement builds a foundation for a collective, interconnected effort toward a low-carbon future, aligning economic progress with environmental responsibility.

La confianza se gana con la congruencia. "Hacer lo que se dice y decir lo que se hace" es una máxima recurrente en la sostenibilidad. Cuando las partes interesadas confían en la organización, estas se involucran en las estrategias que la empresa promueve. Así, si la empresa tiene un proyecto de sustitución de fuentes de energía a través de generación de energía verde, y lo comunica, seguramente las partes interesadas contribuirán en el esfuerzo.

That's right. As a company, we must be aware of the adverse impacts we cause with our business activity in order to manage them in one way or another. Stakeholder engagement is the best tool to get the full picture. Different stakeholders see different perspectives of our business activities. That's why it's important to engage with not only internal stakeholders but also affected stakeholders in the entire value chain.

In deed. One of the instruments to promote stakeholder engagement is through a Materiality Assessment where both company and its stakeholders identify and prioritize Material ESG issues to be addressed.

Participating in industry-wide forums focused on sustainability, I experienced the power of collaboration, even among competitors. In a corporate setting, engaging employees in sustainability initiatives proved effective. Encouraging and facilitating employees to adopt low-carbon practices both at work and in their personal lives can create a culture of sustainability within the organisation, amplifying its impact on the low-carbon economy. Working with a global retailer, we focused on engaging suppliers to reduce their carbon footprint. By collaborating with suppliers on sustainability practices & setting carbon reduction targets, businesses can extend their low-carbon influence throughout the supply chain.

I firmly believe that stakeholder engagement plays a crucial role in the low-carbon economy. By involving stakeholders from various sectors, including business, government, and civil society, we can tap into a wealth of knowledge and resources. This approach is vital in identifying and implementing effective strategies that reduce carbon emissions, while also addressing economic and social considerations.

Involvement of Stakeholders can support a low-carbon economy by enabling investment in green technologies, advocating for sustainable practices in their operations, & aligning strategies with global standards/framework like GRI, TCFD, SASB, etc. Active engagement in policy-making & transparent reporting based on IFRS & CDP guidelines are crucial. #LowCarbonEconomy #SustainableInvesting #GRI #TCFD #SASB #IFRS #CDP #GreenTech #CorporateSustainability

Nunca debemos olvidar que una organización vive, por y para, sus partes interesadas. Es así que el involucramiento de estas en la descarbonización de la economía es indispensable. ¿Cómo lograrlo? promoviendo incentivos positivos para cada uno de ellos. Por ejemplo, premiando con mejores condiciones a los Proveedores que usan vehículos híbridos o eléctricos en la entrega de sus materiales, o, bonificando parte del precio a los consumidores o clientes que regresan los empaques del producto después de su vida útil para su valorización. A falta de conciencia, los incentivos positivos son el motor de la sostenibilidad desde la visión de la rentabilidad en los negocios.