Challenge
Integrate ESG and material topics into core business operations and strategy.
Client Goal
Our client is a large high-tech manufacturing company that specializes in analytical laboratory instruments and software services for scientists. Currently, our client employs over 7,000 people worldwide and operations in over 30 countries including manufacturing facilities and corporate offices. Our client requested our support with the identification of material topics that align with core business strategies and create shared value.
Shared Value is a management strategy focused on companies creating measurable business value by identifying and addressing social problems that intersect with their business.
Our Approach
Using our unique three-dimensional approach to materiality, we helped our client determine which topics and future issues are the most material to their business. Through this rigorous process of interviews, data collection, and surveys, we identified 11 key topics, working with our client every step of the way. These topics affect various parts of our client’s business from supply chain management to climate change-related risks. From there, we collaborated with our client to create a gap assessment to better understand which issues were currently being addressed within the organization, and which were not. The gap assessment then enabled us to create a roadmap for implementation and develop targets against each material issue.
ESG stands for environmental, social, and governance criteria, which help companies evaluate how their business impacts the world.
Results
Through this process, we helped our client identify crucial material issues that impact core business competencies, which enabled them to identify and assign responsible team members within the company to address gaps in the company’s strategy. We were also able to help our client develop goals with performance metrics, setting the foundation for scalable growth and goal-setting. With our help, the client is on a better path towards achieving shared value through an integrated strategy that takes a more holistic approach to corporate responsibility.
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