We recently wrote about how sustainability is becoming one the key drivers behind purchasing decisions in the industrial flooring market. So we thought we would take a wider look at sustainability reporting and the role it is playing in many leading organisations today.

Why is sustainability reporting having such an impact in the EU?

Whether you believe the global warming evidence or not, there’s no arguing with the fact that resources are becoming increasingly scarce. There’s also no doubt that this scarcity will continue to increase because of diminishing access to resources and a huge increase in competition across the globe.

This puts a real onus on businesses to show that they are taking steps to protect themselves as they build for the future. Far from a mere PR exercise, this is a serious demonstration to current and future stakeholders of how your organisation is taking steps to maximise its long-term prospects.

This transparency will become more important to investors, consumers and even your hired talent. As competition for resources goes up, those who are deemed to be part of the problem are likely to see their prospects go the opposite way.

Such is the high importance being placed on this aspect of the business, by many leading EU firms, that two new bodies – the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) – have been formed as part of this ‘integrated reporting’ movement.

Helping to build your brand by focussing on sustainability

Having a well-developed sustainability strategy in place then, becomes far more important that a mere box-ticking PR exercise. As part of a well-executed overall strategy it is capable of elevating your brand over and above the competition and placing your business right at the forefront of the global sustainability curve.

A company with a fully transparent sustainability strategy in place can use this to create a compelling narrative that feeds into the overall brand experience. In an increasingly competitive marketplace, those that standout as leaders in this will be the ones that attract the talent and investment in the long run.

The bottom line is that if you are a business looking to be perceived as best in class then it is down to you to create a company culture sees sustainability innovation as the new frontier. Any organisation with ambitions to be one of the top 10 leaders in their field should be making sure that this is being implemented now.

Ecotile is the European leader in creating sustainable industrial flooring solutions. If you wish to discuss how we can help your organisation meet its sustainability targets please contact a member of our team today.

Image by: Martin
Reproduced under the Creative Commons Licence