Doing Well by Doing Good – Novozymes’ Head of Sustainability Explains How and Why

Posted on June 10, 2016 by Hank Boerner – Chair & Chief Strategist

#Corporate Responsibility #Corporate Sustainability #ESG Issues #Sustainability Big Data #Sustainability Professionals #Sustainability Reporting 

One of the corporate sustainability journeys that we point out in our conversations with corporate managers is Novozymes, the Danish biotech company.  The “do well by doing good” global business enterprise has an interesting history and a rich legacy of addressing societal challenges.  Today, Novozymes leverages its technologies to address “challenges and solutions” in various industries and sectors (including energy, agriculture, pharma products, chemicals, and more).
The company’s head of sustainability — Claus Stig Pedersen — authored an interesting commentary on the Huffington Post platform:  “Business as a Force For Good.”  It’s a solid read for company managers whose firm is embarked on the sustainability journey, and especially for those managers working to assemble the resources to begin the journey.
When the UN Sustainable Development Goals (SDGs) were in draft form and nearing completion, the Novozymes team was already adopting certain of the goals and applying them to the business model.  Author Pedersen notes in his commentary: “With all the global challenges today, we need more companies to rethink tomorrow.  How can they better drive their business using the new SDGs as a guide?  What impacts will this have on society and their bottom line?
His answer:  Look at the sweet spot where people, planet and profit interconnect and deliver solutions for better lives in a growing world.  In 2014, Novozymes used the draft goals (there are 17 in all with 169 targets) as inspiration when developing its new long-term strategy and company purpose.   You can check out highlights of the Novozymes approach online.  And be sure to read the head of sustainability’s comments in our Top Story.
The G&A Institute team is working with corporate clients to help the executive team and managers understand the critical nature of the UN Sustainable Development Goals and to adopt selective SDGs that fit the company’s mission as important and integral elements of the corporate sustainability (or responsibility or citizenship) efforts.  G&A EVP Lou Coppola is working with the Global Sourcing Council to educate and inform supply chain managers of the importance of the SDGs (in the global supply network) – let him know if you would like more information on that effort:
Business-Driven Sustainability Will Change the World
(Thursday – June 02, 2016)
Source: Huff Post – With more than 80% of S&P 500 companies now issuing a corporate social responsibility (CSR) or sustainability report (according to the Governance & Accountability Institute), sustainability is becoming business mainstream.