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CSM - Center for Corporate Sustainability Management – IMD Strategies to integrate sustainability into core business: An update on progress Dr. Aileen Ionescu-Somers Copyright 2010 © by IMD International, Lausanne, Switzerland Not be used or reproduced without permission IMD’s Center for Corporate Sustainability Management (CSM) CSM’s new mission as a research and learning platform: Contribute to and propel the successful mainstreaming of social and environmental issues on the corporate strategic agenda through • Relevant and practical research • Cross-fertilization of corporate learning ... thus helping companies to “get things done” in developing and rolling out viable sustainability strategies 2 File name IMD’s Center for Corporate Sustainability Management (CSM) • 3 File name The CSM platform is open to: • Companies that wish to build a business advantage by building social and environmental issues into their business strategy • Companies that either are or wish to become sustainability leaders Companies/organizations we’ve worked with….. Philip Morris Tetra Pak Lombard Odier Darier Hentsch 4 File name CSM contributes to IMD vision, values and brand • Firms have big issues to address relating to their social and environmental impacts and sustainable development; • Firms need to tackle these issues on both a strategic leadership and implementation level; • CSM is a leader in the area of sustainability innovation/strategy and leadership in corporations • CSM aims to be an increasingly trusted advisor in the area of corporate sustainability strategy design and implementation 5 File name Where can CSM add more value? Helping companies to overcome barriers and roll out sustainability strategies internally • Ensuring that CSM research is integrated in programs across IMD business school • Liaising with external institutions and acting as a facilitator/radar allowing companies to access knowledge in this field (helping with “early awareness” stakeholder consultation) 6 File name What research? Research Output • Numerous books and articles: • • • 7 File name in peer review journals Research Projects recently completed or ongoing: • The business case for sustainability – a cross-industry approach • Quantification of sustainability benefits • Inside the mind of stakeholders – based on stakeholder perceptions • The effectiveness of corporate sustainability partnerships Books published with Palgrave Macmillan: • Corporate sustainability partnerships (2008) • Business logic for sustainability; A food and beverage industry perspective (2008) • Inside the mind of the stakeholder (2006) • The business of sustainability (2004) CSM books Books Inside the Mind of the Stakeholder Ulrich Steger (2006) Palgrave www.palgrave.com Business Logic for Sustainability A Food & Beverage Industry Perspective Aileen Ionescu-Somers & Ulrich Steger (2008) Palgrave MacMillan The Business of Sustainability Building industry cases for corporate sustainability Ulrich Steger (2004) Palgrave MacMillan Sustainability Partnerships: The Manager’s Handbook Ulrich Steger, Aileen Ionescu-Somers, Oliver Salzmann & Stephanie Mansourian (2008) Palgrave MacMillan 8 File name The challenge of sustainability for business strategy 9 File name The crux of the matter: Market failures • 10 File name The market economy, left to function on its own, fails to allocate resources to satisfy the needs and wants of the individual and society. • Increasing environmental degradation and unsustainable resource depletion is a market failure • Non delivery of the social goal of sustained economic growth is a market failure Theory of Externalities Externalities are present when A) The activities of an economic agent like a firm has external consequences for other agents other than by affecting prices B) These external effects are not compensated for Examples: Traffic congestion, Dumping of toxic wastes, Emission of greenhouse gases, Pesticides in food chains, Acid rain, Ozone depletion 11 File name How externalities are dealt with • ADJUST PRICES: The problem is due to incorrect prices so adjust them by using taxes or subsidies • CREATE A MARKET: The problem is due to missing markets so, for example, create a market for pollution by use of tradable permits • ASSIGN PROPERTY RIGHTS: The problem arises from imperfect property rights which need to be amended • Companies INTEGRATE EXTERNALITIES TO THEIR STRATEGIES when economically relevant 12 File name What’s the problem companies internalizing externalities? 13 File name What’s the problem? • Living in a world of multiple crises in a multi-technical communications world • Reactions numbed by numbers of headlines that reach our radar screens. • It takes big crises to draw our attention to sustainability issues: Some examples that created waves in the public discussion in the ’80s and ’90s: Union Carbide Bhopal Disaster (1984) Chernobyl (1986) Sandoz River Rhine Spill (1986) Exxon Valdez accident (1989) Brent Spar debacle (1995) And now…..more generic: Climate change (provoked by world weather events, The Inconvenient Truth, the Stern Review on Climate Change, the Copenhagen Conference and so on……) 14 File name Issues creating waves Some examples that created waves in the public discussion in the ’80s and ’90s: Union Carbide Bhopal Disaster (1984) Chernobyl (1986) Sandoz River Rhine Spill (1986) Exxon Valdez accident (1989) Brent Spar debacle (1995) And now…..also more generic: Climate change (provoked by unprecedented world weather events, The Inconvenient Truth, the Stern Review on Climate Change, the Copenhagen Conference and so on……) 15 File name The changing state of the world • Demography: since the ’50s, well over double the population from 2.5 to 5.9 billion • 20 per cent of the world population consumes 80 per cent of its resources • Higher standards of living in developing countries: Gross national product of the world has increased by a factor of ten since the ’50s • Increasing consumption worldwide - • In a world of some 10 billion by 2050 – will this be socially and politically sustainable? Increased resource use: Since the ’50s: Quadrupling in use of energy worldwide – from 2.5 billion tons of coal-equivalent to 11 billion tons – causing emissions of CO2 to drastically increase 16 File name The changing state of the world • Even at today’s levels of agricultural and industrial production, there are unprecedented social and environmental problems: • Ozone depletion • Climate change • Deforestation • Dramatic species loss • Collapse of major fisheries • Growing poverty and health problems related to unsustainable development • Human rights abuses 17 File name The corporate sustainability strategic conundrum If a company sees stress signals in its business context, should it do nothing? • Companies have an obligation to be compliant with regulation • But there is intense debate around the social and environmental responsibilities of companies beyond compliance and within industry • Is there a “business case”? 18 File name So how has the debate been evolving? 19 File name First half of 20th century: • firms regarded the environment as either • a source of free inputs to the economy or • a free repository for waste This perspective led to abuse of commonly shared global resources. Firms were effectively “free riders” “THE TRAGEDY OF THE COMMONS” (Hardin, 1968) 20 File name After the 2nd World War: • Mounting social pressure • A number of factors influenced this: 21 File name • Increase in use and abuse of natural resources • Intensity of use of human capital • Foundation of intergovernmental organizations • Increasing prevalence of NGOs (non-governmental organizations representing civil society during this period Fifties and onwards • 1950s: Scholars launched the modern debate on corporate social responsibility (CSR) • argues that if business adopted more comprehensive social goals in its decision-making processes, more social and economic benefits would accrue to society • 1960s/70s: Questining of relation between “industrial” man and the environment (Carson’s Silent Spring – 1962, and Club of Rome “Limits to Growth” – 1971) • 1987: “Sustainable development is any development which meets the needs of the present without compromising the ability of future generations to meet their needs” (Brundtland Report 1987) 22 File name The power of corporations and the conundrum • National governments have become weaker and institutions previously underpinning society (church) have lost influence • The public increasingly pressures companies to: • • take over some of the previous responsibilities of church and state institutions in the broader social context, • exercise CSR, or “corporate citizenship” • accept accountability for societal welfare Underlying assumption: Companies are more than their “brands” and shareholder value (their traditional focus) So companies are increasingly being held to standards that have moth moral and financial dimensions 23 File name We’ve moved from a Tri-polar World……… Government Society 24 File name Industry To a view of the company as part of society……….. Regulators Customers NGOs Suppliers The Public The Company Employees Contractors 25 File name Shareholders Power of corporations: The conundrum “International companies like ours need to be careful that they don’t pretend to be, or aspire to be, more than they are. We’re in the business of understanding consumers and providing consumers with the products they need, the quality they want, at the price they’re prepared to pay, and doing it in a responsible way. That’s our job. If we begin to have aspirations to somehow or other become supranational, powerful good outside the realm of our own business, we begin to set ourselves up in a way for which we don’t have a brief, - nor a legitimacy.” CEO at the beginning of the Millennium 26 File name Power of corporations: The conundrum Undercurrent: • There must be an economic rationale, or BUSINESS LOGIC, for integrating sustainability • To make “sustainability” sustainable, businesses need to go beyond • 27 File name • normative arguments, • philanthropy and • even eco-efficiency (reducing resources to save money) Companies will actively look for the BUSINESS CASE for integrating social and environmental considerations into business strategy. The ‘Smart Zone’ Economic value generated Company creates economic value by improving environmental and social performance beyond compliance The Smart Zone: Economic gain is high Compliance level of activity under consideration 28 File name Activity y Further improvements of environmental and social performance lead to decreases in economic performance ActivityFurther x improvements are associated with an economic loss Level of environmental and social performance Power of corporations: The conundrum Factors • Sceptical management with a “what’s in it for us?” approach • Demand for as quantified a business case as possible, with • Proof that sustainability management positively impacts the bottom line “The business case is (…………) something that must be carefully honed to the specific circumstances of individual companies operating in a unique position within distinct industries. Successes in whole industries and at other companies are useful examples, but the case still has to be applied to one company at a time.” (Reed, 2001) 29 File name CSM project conceptual framework: Finding and rolling out the business case for sustainability Corporate sustainability management • is a strategic and profit-driven response to social and environmental issues a company is facing • has several contingencies, such as: industry and country of operation • has several internal and external determinants (drivers/barriers), such as 30 File name • organizational culture • tools and processes • managers’ mindset • Interest/disinterest from key stakeholders (capital markets, customers, regulators, etc.) Research objectives: IMD’s business case research • To examine • The economic reasoning for corporate sustainability • Mismatch of perceptions, attitudes and behavior between sustainability officers and their counterparts • Country- and industry-specific differences in values and restrictions • Pressures undergone by companies to respond to internal and external demands 31 File name Methodology 1. Review of existing research 2. Pilot survey in reference companies 3. Extensive survey on 9 different industries in 8 different countries (US, Japan and Europe) through • More than 400 face-to-face interviews and • 1068 returned mail/fax/online questionnaires (945 general managers, 123 sustainability officers) 32 File name What is the bottom line? • “A BUSINESS CASE IS NOT FOUND - IT HAS TO BE BUILT” Member of CSM Advisory Council • Corporate sustainability is not the next "big thing" - but there to stay 33 File name Attitudes towards corporate sustainability 100% 90% 80% 70% Very Much 60% Much More or less 50% A little Not at all 40% 30% 20% 10% 3741 GM NN== 945 0% 1 2 3 4 1. “The business of business is business. So companies should comply with the law, but going beyond the law would only sacrifice profits." 2. “Profit always comes first for companies. There are win-win situations in which companies can achieve financial, environmental and social goals at the same time. In these situations, it makes sense for companies to go beyond what the law requires.” 3. “Companies should consider social and environmental issues/expectations, and try to actively integrate them into their strategies because, by doing so, they gain long-term competitive advantage.” 4. “As part of their role in the “global society,” companies should engage in social and environmental initiatives, even if long-term competitive advantage cannot be proven.” 34 File name Sustainability issues • are multiple, extremely fragmented, often controversial and uncertain • what is regarded as an issue also differs widely (different languages used) • add to the complexity of an already complex business environment 35 File name Stakeholders: "Transmission Belts“ vary 36 File name • Regulators still more important than NGOs that nevertheless provide an important "early awareness" function • Customers and capital markets are the “deterrers” Value drivers Helps us to manage our risks better 17% Leads to innovation of products and services 8% Improves brand value and reputation 23% Other 2% Attracts Talent and increases employee satisfaction 16% Improves our access to capital 2% Leads to cost reductions 14% Is essential to maintaining our 'license to operate' 18% N = 123 SO 37 File name Sustainability issues affecting strategic risks and opportunities Systemization of sustainability issues, value drivers and the relevant corporate activities Energy divide Climate change Radical innovation for new products and markets Sustainability issues affecting operational risks and opportunities • Local air pollution • Biodiversity • Health • Safety • Human rights • Monetary flows Incremental improvements in Environmental performance H&S performance Social performance • Brand value and reputation • License to operate • Attract and retain talent Net cost decreases through incremental innovation Net revenue increases through radical innovation Economic value 38 File name Business functions Promoting role Finance/Control 4% Marketing/Sales 14% Deterrent role Top Management 1% Other 2% EHS/Sustainability 1% R&D 25% NR or N/A or Do not Know 20% No Opposition 7% Other 5% HR & Corp Staff 30% Manufacturing 23% R&D 4% Manufacturing 13% HR & Corp Staff 10% Marketing/Sales 13% Finance/Control 28% N = 2068 N = 2068 39 File name N = 1128 GM Barriers to corporate sustainability strategic roll out Lack of interest from customers 16% Opposition or lack of interest from investors 8% Organizational culture 20% Other 4% Managers' mindset 19% Managers' lack of knowledge/expertise 14% Regulation (e.g. subsidies & low environmental/social standards) 7% Absence of appropriate tools and processes 12% 40 File name N = 945 GM THE BARRIERS: Results of our stakeholder review Reported pain points of embedding sustainability strategies Engagement, change, reward Knowledge • Middle management buy-in • Short-term mindsets • Difficulties to integrate into business model • Organization silos • Difficulties to make the business case across departments and BUs • CSM targets are not • Lack of quantification tools integrated within rewards and of specific business cases evaluation systems and emerging risks Resource leverage • Lack of systematic • Poor cost effectiveness of sustainable procurement performance measurement and benchmarking • Difficulties to push • Difficulties to build effective energy/resource savings to the next level networks to support innovation • High cost of innovation • Barriers to transforming • Low impact on brand markets/educating leverage customers • Lack of adequate KPIs Responses from 22 global organizations participating in CSM workshop in April 2009 41 File name 2. CSM Research and Learning Initiatives: SAI Platform • CSM/IMD is working with the SAI-Sustainable Agriculture Initiative (a partnership of 22 major food & beverage companies) to promote sharing of knowledge/guidelines/standards about managing the food and beverage industry’s single biggest sustainability issue: Protection of the industry’s raw material bases long-term. • SAI’s greatest challenge? : Breaking down mindsets of managers and filling knowledge gaps about the significant industry threats and business risks of unsustainable agriculture and need to integrate sustainability in supply chains and marketing and sales strategies 42 File name 2. CSM Research and Learning initiatives: SAI Platform companies Active Members: Unilever Danone Nestlé Coca-Cola Kelloggs General Mills Kraft MacDonalds Sara Lee Tchibo Pepsico Novus Affiliate Members: CIAA - EISA Dairy Platform 43 File name Global Lamb Weston McCain Kemin Farm frites Fonterra Friesland Campina CIO Agrarfrost Agroterra Mayuga WWF Climate Savers http://cleaneconomy.panda.org/csvideo/index.html 44 File name 2. CSM Research and Learning initiatives: WWF Climate Savers Business Alliance Active Members: 45 File name Johnson & Johnson Nike Lafarge The Collins Companies Xanterra Catalyst Novo Nordisk Tetra Pak Sony Nokia Hewlett Packard Nokia Siemens Networks Johnson Diversey Nike Lafarge The Coca-Cola Company Sofidel Fairmont Hotels and Resorts Elopak National Geographic Competitive landscape of Climate Savers Source: IMD Research. 46 File name 2. CSM Research and Learning initiatives: WWF Climate Savers business alliance • 2008 Ran workshop on Climate Savers strategic challenges and identified strategic options • 2008 Created a learning tool (integrative case) as a result, running it at OWP in 2009 and currently developing it into a day-long session for the EMBA in 2010 • 2009 Created Climate Change Strategy Tool for companies 47 File name 2. CSM Research and Learning initiatives 2009 CSM wrote a series of 13 case studies on climate change innovation by the Climate Savers: Johnson & Johnson, Tetra Pak, Novo Nordisk, Xanterra Parks & Resorts, Fairmount Hotels, Elopak, Nokia Siemens Networks, Sony, Hewlett Packard, Sagawa Transportation All cases were loaded on the WWF Climate Savers website in the lead up to Copenhagen Climate conference in Dec. 2009 www.letthecleaneconomybegin.org and published in brochure (with IMD logo) distributed to thousands of executives in Copenhagen 48 File name CSM’s case series on WWF Climate Savers Innovations IMD-2-0146: WHAT DOES IT TAKE TO GET PROJECTS OFF THE GROUND? JOHNSON & JOHNSON’S CAPITAL RELIEF FUNDING FOR CO2 REDUCTION PROJECTS Johnson & Johnson’s capital relief funding for CO2 reduction projects have attracted the interest of managers in many companies in different industries, eager to learn how the corporation have eliminated budgeting barriers and allowed 61 climate friendly energy projects to take off in less than 4 years. IMD-2-0147: BREAKING DOWN ALIGNMENT BARRIERS: TETRA PAK PULLS TOGETHER ALLIES TO REACH CLIMATE GOALS Tetra Pak efforts to align market companies, manufacturing sites and suppliers with its climate goals required significant organizational change. By empowering shop floor teams to initiate and explore new approaches to energy efficiency along the supply chain, the company created a structure that allows organic innovation to take place. 49 File name CSM’s case series on WWF Climate Savers Innovations IMD-2-0148: DEVELOPING AN INNOVATIVE BUSINESS MODEL: NOVO NORDISK AND DONG ENERGY DRIVING THE MARKET FOR RENEWABLE ENERGY IN DENMARK Novo Nordisk’s search for cost-effective solutions to reduce CO2 emissions drove the development of a new business model which expanded the commercial basis of renewable energy in Denmark. IMD-2-0149: REMOVING BARRIERS TO INNOVATION: XANTERRA PARKS AND RESORTS GAINING SCALE IN ON-SITE SOLAR POWER GENERATION Xanterra Parks & Resorts’ focused strategy of bringing on-site renewable energy generation to the next level required not only significant dedicated resources, but also singular efforts to break down skeptical mindsets and risk-related barriers to innovation. By active learning from an almost terminated project, the company was able to build one of the largest privately-owned solar photovoltaic systems in the US. 50 File name CSM’s case series on WWF’s Climate Savers innovations IMD-2-0150: FAIRMONT HOTELS & RESORTS STRETCHING THE TARGETS FOR CLIMATE ACTION AT LANDMARK HOTELS The Fairmont Hotels & Resorts case focuses on actions taken by Fairmont during the full restoration of The Savoy in London and the building of the new Fairmont Pittsburgh in the United States. It shows the feasibility of stretching targets for lowering CO2 emissions from hotel operations. IMD-2-0151: REACHING A TURNING POINT WITH NO TURNING BACK: HOW ELOPAK ROLLS OUT CO2 REDUCTION INITIATIVES Elopak committed to reduce its CO2 emissions by 15% within a tight time frame of 3 years. This ambitious target pushed the company to adopt an innovative roll out approach, including active participation of Elopak’s CEO in efforts to build internal buy in, incorporation of a carbon strategy as part of the marketing mix and integration of climate targets into normal management cycle and reporting systems. 51 File name CSM’s case series on WWF Climate Savers Innovations IMD-2-0152: DEVELOPING IT SOLUTIONS FOR REDUCING TRAVELRELATED CO2 EMISSIONS: THE HEWLETT-PACKARD’S HALO HP’s search for IT solutions to reduce travel-related CO2 emissions has driven the development of innovative telepresence collaboration solutions. By developing solutions that create a lifelike virtual meeting experience the company is contributing to the removal of technological and mindset barriers to the substitution of business travelling by virtual collaboration. IMD-2-0153: LAFARGE’S C-C-TOOL: SUPPORTING CO2 MITIGATION DECISION MAKING THROUGH IMPROVEMENT MONITORING, ANALYSIS AND SIMULATION By improving internal CO2 data management and putting in place a user-friendly tool for monitoring, analysis and simulation of mitigation alternatives, Lafarge facilitated decision-making processes and strengthened the autonomy of operational managers in implementing CO2 reduction projects. And others…….. IMD-2-0154 – Sony IMD-2-0155 –Nokia Siemens Networks 52 File name IMD Climate Change Corporate Strategy Tool Following a procedure of four major steps, the tool helps to: Assess Car bon Footpr int Set Tar gets & Incentives Climate Change Strategy Evaluate Str ategic Options 53 File name Analyze Risks & Oppor tunities Assess a company’s carbon footprint Reveal climate change-related risks and opportunities Identify strategic options and evaluate financial attractiveness Derive emission reduction targets and incentives Engaging networks to take action 54 File name Why do you need to engage internal networks in sustainability initiatives? Effectively convincing and selling key stakeholders to take action • Why me? • Why now? 55 File name How will you reach these key stakeholders? 56 File name What are you trying to achieve? Think of one initiative that you plan to achieve over the coming year 57 File name What are the different types of networks? • Work networks – exchanging information to get business-as-usual done • Expert advice networks – solving problems and providing technical information • Strategy – developing and building a consensus about strategy • Innovation – launching new products or services or improving business processes • Decision making – people who play a part in key decisions • Trust or social networks – sharing political information and backing each other during a crisis Most powerful 58 File name Networks for different purposes have fundamentally different topologies Expertise to... Decision Making …Work 59 File name Strategy... Who are the key stakeholders that you need to convince to get your initiative executed? • Which strategy makers? • Which key decision makers? • Which experts? • Which people involved in innovation? • Which people will you need to actually do the work? 60 File name What do you want from them? Awareness 61 File name Interest building Evaluation & trial Adoption Are these key stakeholders for or against your initiative? Yes Doom Merchants Level of influence on outcome and willingness to use that influence Supporters Bystanders Nuisance Resistors Quiet Enthusiasts No Actively Against 62 File name Neutral Strongly Supportive Typically we start an initiative like this Yes Doom Merchants Level of influence on outcome and willingness to use that influence No Project Engines 15% 5% Bystanders Nuisance Resistors 70% Quiet Enthusiasts 5% Actively Against 5% Neutral Typically 5-20% of stakeholders are key 63 File name Strongly Supportive How do you use your networks to pull everyone over the right hand side? Yes Doom Merchants Level of influence on outcome and willingness to use that influence Project Engines Convert Bystanders Nuisance Resistors Collaborate Quiet Enthusiasts No Actively Against 64 File name Neutral Strongly Supportive How do you use your networks to pull everyone over the right hand side? Yes Doom Merchants Level of influence on outcome and willingness to use that influence Project Engines Bystanders Nuisance Resistors Divide & conquer Collaborate Quiet Enthusiasts Encourage No Actively Against 65 File name Neutral Strongly Supportive How do you use your networks to pull everyone over the right hand side? Yes Doom Merchants Level of influence on outcome and willingness to use that influence Project Engines Bystanders Nuisance Resistors Build momentum Quiet Enthusiasts No Actively Against 66 File name Neutral Strongly Supportive How do you use your networks to pull everyone over the right hand side? Yes Doom Merchants Level of influence on outcome and willingness to use that influence No Isolate Bystanders Nuisance Resistors Quiet Enthusiasts Persuade Actively Against 67 File name Project Engines Neutral Strongly Supportive Use your networks to find the right people to go to stakeholders • How can we leverage our supporters? • Who do the stakeholders respect? Project team 68 File name • Who will be most effective? Feed the network hubs • Huge amounts of information pass through here • These people are central within the network • Often have “weak ties” into other strong networks • May or may not be influential 69 File name Get around the gatekeepers 70 File name • Some people only absorb information • They create structural holes • Work out how to get around them by adding links Informal networks allow us to understand the “organizational terrain” • Hierarchical relations are important for decision-making authority and accountability • However, hierarchical relationships: – Do not get information where it is needed, when it is needed – Do not provide all the context for understanding the implications of information (i.e., do not reduce real ambiguity) – Do not facilitate high levels of flexibility in conditions of interdependence and multiplicity – Can be slow *Adopted and adapted from Prof. J.F. Manzoni, IMD 71 File name Understand and use the distribution of attitudes • There always are some innovators/early adopters • Target “innovators” early for momentum • There are multiple “helpers”: Hierarchy + opinion leaders + network leaders • Watch out for resistors (do not exclude them) and gatekeepers 72 File name or s R es is t y M aj or it e La t rly M aj or it y rs Ea Ad op to rly Ea In no va to rs 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 Building your influence networks • Do something to get your strategic network started • Remember its less a matter of skill than of will…so allocate time 20%? • It’s a skill that takes practice • Set goals and move through them one by one • Map progress and celebrate success What are your next networking steps? 73 File name For more information about CSM: Dr. Aileen Ionescu-Somers Director Center for Corporate Sustainability Management (CSM) Tel: +41 21 618 03 89 Fax: +41 21 618 06 41 [email protected] IMD Ch. de Bellerive 23, P.O. Box 915 CH - 1001 Lausanne, Switzerland www.imd.ch 74 File name