In recent years, the definition of business success has expanded. No longer are companies judged solely on how much money they make; now they are also judged on how they make their money.
An expanding roster of stakeholders—including employees, consumers, regulators, and the public—demands to be heard and/or involved in company activities and decisions. They expect the business to not only increase shareholder value, but also to have a positive effect on society and the environment while minimizing whatever adverse effects may stem from their operations. First and foremost, stakeholders want to be able to trust that what companies say about themselves and their operations is reliable.
While great effort goes into ensuring compliance with rules, standards, and codes of conduct, many companies increasingly see the benefits of also managing social, environmental, and economic impacts in a structured manner. This helps them to manage risk more efficiently, strengthen corporate reputation and brand, and build trust with stakeholders. A company’s ability to manage such impacts today is indicative of its ability to thrive in the future.
Deloitte services
Deloitte member firms help clients to successfully manage corporate responsibility and sustainable development issues. Our global service teams have the experience and the subject matter knowledge in several industries to assist your company in embedding corporate responsibility into business activities wherever you operate. We support your efforts to deliver long-term sustainable value to your company and your stakeholders.
Deloitte member firms can support you in manifold ways. Our Sustainability & Climate Change Risk Services teams can help in the following areas:
In addition, our professional teams can help with best practice people management; assess business-related risks and opportunities; and help to develop sound and responsible corporate business strategies.