orporate sustainability has been a hot topic for some time now, but only recently has it begun to be addressed in a more pragmatic way. The reason is simple: perhaps we are finally beginning to understand that, through targeted actions across different areas, we can make a meaningful difference. Not just in our own little bubble, but for everyone.
The road ahead is still very (very!) long, but many countries have already laid out detailed plans to reach a common goal. Want to know more? In this guide, we’ll explain what corporate sustainability really means and how every business can adopt effective practices that benefit the environment, society, and even the business itself.
What is corporate sustainability?
Corporate sustainability refers to a broad range of actions, policies, and initiatives adopted by a company to positively impact daily life. This includes greater care for our planet, people, and socio-economic relations.
It may sound a little vague, which is why in recent years institutions have proposed structured frameworks to put it into practice. Just consider that, under Italy’s National Recovery and Resilience Plan (PNRR), over a third of all funding was allocated to ecological transition.
The main reference point is the 2030 Agenda for Sustainable Development, a comprehensive sustainability plan approved on 25 September 2015 by UN Member States at the UN General Assembly. It outlines 17 Sustainable Development Goals (SDGs), broken down into 169 targets to be achieved by 2030. It’s a forward-looking initiative that deserves our attention and involvement.
What makes a business sustainable?
Let’s start with what doesn’t make a business sustainable: greenwashing. The primary aim of the 2030 Agenda is to move from hollow slogans to real, measurable action. So no more empty claims like “we’re greener” or “we’re sustainable” without the data to back it up.
To be truly sustainable, a company must put into practice what the Agenda outlines in accordance with its sector, applying the ESG criteria (which we’ll explain in detail shortly). Corporate sustainability involves multiple areas, but above all, it requires meaningful and impactful projects that can reshape the business model at its core.
This might include:
- increasing access to popular employee benefits,
- completing official sustainability certification programmes,
- asking suppliers to comply with sustainability standards.
On a broader level, better HR management and inclusive policies also play a key role in becoming more sustainable.
What are ESG criteria?
Now that we’ve explained what corporate sustainability is and why it matters, let’s talk about how to implement it, starting with ESG criteria (Environmental, Social and Governance). These three pillars represent different but interconnected areas: the environment, people, and the economy.
Environmental sustainability
As the name suggests, environmental sustainability focuses on protecting the planet. This is often the first area people associate with corporate sustainability. To comply, companies should introduce policies and procedures that reduce their environmental footprint, such as:
- opting for clean energy sources;
- respecting terrestrial and aquatic ecosystems;
- preventing pollution;
- contributing to climate change mitigation;
- achieving full resource circularity.
Social sustainability
Social sustainability refers to the protection and support of the human communities within which a business operates. Companies should drive community development and offer employees a safe, healthy, and inclusive work environment, where everyone is treated equally (e.g., via transparent pay policies). This also includes charitable initiatives that benefit local communities or non-profit organisations.
Economic sustainability
Economic sustainability is about governance: the decisions and policies that build a more ethical and equitable economic system. For example, companies should foster innovation and research, which benefit not only the organisation but society at large. Other goals include sourcing locally and aligning salaries with the actual cost of living.
Why corporate sustainability matters
By now, it should be clear that corporate sustainability is key to the development of not only individual businesses but society as a whole. At both national and global levels, embracing ESG criteria helps improve overall quality of life and protect our planet.
On a business level, having a strong sustainability plan can lead to major economic benefits. A well-managed and responsible company is more likely to attract investors and access public funding opportunities. Consumers, too, increasingly value sustainability: when they see a brand’s genuine commitment, they tend to trust it more and choose it over competitors.
How to improve corporate sustainability
You can’t be truly sustainable without implementing ESG principles. To make a real, tangible difference, companies must start with strong, well-prepared leadership that understands the value of the journey ahead.
Those leading the change must be competent and have a broad vision that they can translate into everyday business actions. A well-thought-out sustainability plan should include a variety of initiatives, a clear methodology, and specific targets with defined deadlines. Only then can a business truly enhance its sustainability and stand out at local, national, and international levels.
Examples of corporate sustainability
Let’s look at some real-world examples of corporate sustainability initiatives:
- reducing CO2 emissions in production processes;
- cutting water consumption during operations;
- making ethical and responsible investments;
- properly managing and minimising corporate waste;
- supporting employee personal and professional growth;
- offering on-site childcare services;
- providing employee welfare programmes;
- improving work-life balance.
Choose Coverflex for sustainable employee benefits
As mentioned earlier, companies that embrace corporate sustainability benefit from a stronger reputation. But that’s not all! It also boosts employer branding, which helps retain employees, keep them happier, and attract top talent during recruitment.
If you run a business and want to offer sustainable benefits to your team, start with Coverflex. Thanks to its innovative and easy-to-implement system, your company can offer a corporate welfare solution that enhance workplace wellbeing.
Visit the Coverflex website to discover how to make your business more sustainable through corporate welfare!
