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Dow Chemical: Extracting Business Value out of Sustainability

03 Thursday Jul 2014

Posted by Aman Singh in CSRwire, ESG

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Brand Management, CSRwire, dow chemical, environment, Environment, ESG, innovation, Innovation, neil hawkins, science, Sustainability, sustainability, technology


After more than a decade of negotiations, there’s news today that Dow Chemical has agreed to clean up 1,400 residential properties in Midland, Mich.

The root cause: A Dow Chemical plant located in Midland, also home to its headquarters, responsible for polluting the area with dioxin for a better part of the late 1990s.

Dow Chemical has had a long history of pioneering research and innovation in sustainability, from collaborating with nonprofits on driving solutions — it was named one of the most sustainable companies in Brazil in 2011 — to industry-wide partnerships on reducing their products’ environmental footprint.

But no number of accolades or ratings can hide the immense environmental and social footprint of the company’s operations, domestically or internationally. Or as many would opine, help erase a history of soil, air and water contamination.

So, how does the chemicals giant prioritize sustainability to drive its long term business plan? And how are these complex social and environmental challenges defining this strategy? Neil Hawkins, Dow Chemical’s VP for Sustainability & EH&S offers some insights:

Top Sustainability Challenges of 2011:

1. Accounting for the value of nature

We’re entering a new phase of integrating the value of nature into the corporate balance sheet through a breakthrough 5-year collaboration with The Nature Conservancy. This partnership will determine the value of ecosystems to Dow’s operations.

Scientists from both organizations are developing tools and testing models together that we will eventually share with other companies and the science community. In early 2012, we will issue a public progress report on the collaboration, as well as a broader update on Dow conservation projects around the globe.

2. Market adaptation to sustainable solutions and innovation

There is a significant divide between environmental and social issues, and the appetite of markets to adapt, and sometimes pay, for new solutions that address these issues. Bringing innovation to market is a costly proposition filled with economic and political volatility, lack of clear and consistent regulation, and lack of guarantees for ROI.

Despite these headwinds, we are addressing megatrends and challenges by staying focused on our mission and values, and through unwavering investment in our innovation pipeline.

Aspirations for 2012: Where does CSR / Sustainability fit?

In 2010, Dow passed the midpoint of its second set of 10-year sustainability goals – the 2015 Sustainability Goals.

In 2012, we will work on our next set of goals, building on the momentum of the past 20 years, and find ways to drive Dow’s science and people into unprecedented areas of leadership, collaboration, innovation and change.

These goals serve as a strategic guide for leveraging business to address global challenges from accelerating urbanization, rapid population growth and increasing demands on natural resources. Prioritizing the safety and wellbeing of Dow people will also always be at the core of how we measure success.

With sustainability at the root of our mission, vision, and values, sustainability and CSR don’t just “fit” in – they drive decision-making, investment choices, hiring practices, and employee engagement at Dow.

Sustainability, in particular the pursuit of more sustainable chemistry, also gives our innovation engine a clear target.

Predictions: Extracting Business Value from Sustainability

Companies will become more proficient at extracting business value from sustainability commitments and practices

The chemical industry, among others, will continue to move beyond sustainability as an obligation driven by outside forces, toward uncovering tangible economic value that drives both top and bottom line growth.

The economic value of sustainable development can and should influence all decision-making – including capital investments, recruiting, marketing, product design, R&D and service functions. Companies will need to become savvy life cycle practitioners, innovators and collaborators.

By looking externally at unique partnerships, and internally at deeply integrated sustainability through employee engagement and accountability, companies will unlock new areas for growth by harnessing the value of sustainability.

The critical role chemistry plays in solving world challenges will continue to move to center stage.

Our world is facing pressing challenges including water supplies, energy sources and affordable housing. Mitigating the impacts of these challenges and managing our natural resources worldwide requires the manufacturing industry, and in particular, the chemical industry, to play an enabling role by discovering and implementing new technologies.

Chemistry is fundamental to our lives. It enables more than 96 percent of all manufactured products.

As a company, we’re committed to driving innovative solutions through chemistry, such as the POWERHOUSE Solar Shingle, which transforms a typical house into a dynamic power generator.

Then there are efforts such as the United Nations’ 2011 International Year of Chemistry that put the power of chemistry on a global stage.

But more attention is needed to accelerate science-based solutions, increase collaboration, and attract new generations into rewarding STEM careers – where the problems of today and tomorrow will ultimately be solved.

Originally written for and published on CSRwire’s Commentary sectionTalkback on February 17, 2012.

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11 Challenges for Corporate Sustainability: A Review

24 Saturday Sep 2011

Posted by Aman Singh in CSR, CSR reporting

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Accountability, aman singh, aman singh das, benchmarking sustainability, brand management, Brand Management, Business, conference board, corporate citizenship, corporate social responsibility, CSR, CSR events, CSR reporting, CSR strategy, ethics and compliance, Events, global reporting initiative, GRI, innovation, integrated reporting, Leadership, leadership, Management, risk management, social media, Social Responsibility, Stakeholder Engagement, supply chain, Sustainability, sustainability, sustainability reporting


Early this year, at the Global Reporting Initiative’s official launch in North America, Director of the Conference Board’s Center for Sustainability David Vidal asked a room full of senior CSR and sustainability executives:

What are the top three reasons for your company’s reluctance to embrace sustainability—and adopt sustainability reporting?

Now, as I prepare my keynote presentation for the Center’s annual summit next week on Innovation, Sustainability & Social Media, the answers to David’s question six months ago remind me of how quickly some businesses — and the sustainability space — are evolving.

Here’s what I wrote then on Vault’s CSR blog:

——————————–

The responses that came from an audience representing the glitterati of the corporate social responsibility world might surprise.

Keep in mind that a majority of them (I’m almost tempted to say all) don’t need another lecture on the business case for CSR or sustainability, are active advocates, and represent companies that–for a multitude of reasons–recognize the link to their bottom lines.

What these responses point to, however, is the continued sense of reluctance across senior leadership toward combining the social and environmental with corporate. The path to effective CSR isn’t a linear process by any means and these responses should help those who continue to struggle with mental and ideological barriers within their companies.

Because knowing the challenge is half the battle.

As you go through these, make an elementary checklist. Which of these sound familiar? How did you tackle them? Do any seem/remain insurmountable in the current corporate reality of thrift and inflexibility? Share your perspectives by leaving a comment or connecting with me @AmanSinghCSR.

And, without further ado, and in no particular order:

  1. Doubt
  2. Liabilities
  3. Denial
  4. Resources
  5. Causality
  6. Lack of Global Standards
  7. Benchmarking
  8. Lack of comparative credibility
  9. Uncertainty
  10. Fear of the unknown
  11. Fear of the known

——————————–

My estimation is that this list continues to evolve depending on the industry, the chief in charge, and even by which quarter we are in.

In coming days, I will review these challenges  — after hearing from some of business’ most eminent executives at the Annual Summit —  and hopefully shed some light on how some businesses’ have indeed managed to overcome them, and found advantage in doing so.

Stay tuned!

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Social Media and Leadership: Are Twitter and Facebook 21st Century Necessities?

12 Friday Aug 2011

Posted by Aman Singh in CSR

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Accountability, aman singh, aman singh das, brand loyalty, brand management, Business, corporate citizenship, corporate governance, corporate social responsibility, CSR, CSR communications, CSR strategy, employee engagement, Facebook, Google+, human resources, innovation, job hunting on social media, Job search, Leadership, leadership, management, Management, marketing, PR, Quora, Recruitment, recruitment, reddit, Social Media, social media, Stakeholder Engagement, stumbleupon, Sustainability, sustainability, transparency, Twitter, Work culture


There is a lot of love for social media among many in the corporate social responsibility (CSR) and sustainability community. [Take this short survey and have your say: Useful, necessary engagement tool or hate it and a complete hassle?]

Lucy Marcus, founder of Marcus Venture Consulting, for example, posted a blog today on Harvard Business Review, that talks about a particular Groupon deal that annoyed her enough to tweet about it and how that rose several eyebrows and an eventual resolution.

David Connor recently wrote about his love for Twitter, calling it a fascination and being constantly impressed by the simplicity of engagement and the tangible sense of community the platform provides. In his post, he alluded to a recent confession of mine, simply titled: In Defense of Twitter: 5 Reasons Why I am a Mad Tweeter, which was a response to an alternatively headlined Wall Street Journal article.

_________________________________

For those interested, here is a recount of my top five:

1) Community: Twitter has provided me with a very diverse community of individuals who are eager to engage, argue and collaborate.

2) Soundboard: Without the 20 odd tweets I send out every day, I wouldn’t get any work done. Sounds counter-intuitive, I know—but it’s true. You’ve got to go where your audience is. They have a voice and they like to use it—and as a blogger, hearing what’s working and what’s not is inarguably essential.

3) Collaborations: And of course, without Twitter, I wouldn’t have made HR Examiner‘s Top 25 HR Digital Influencers for 2011 or named among the Top 100 Thought Leaders by Trust Across America. Nor would I have been able to successfully put together the recent panel on responsible business with Carol Sanford, Jeffrey Hollender, Sarah Murray and Bank of America, or been able to interview thought leaders like Campbell Soup’s Dave Stangis, PwC’s Shannon Schuyler, EMC’s Kathrin Winkler and many others while at Vault—and collaborated with enterprising students like Ashley Jablow, Catherine Chong, entrepreneurs like Myles Lutheran and the EDF Climate Corp fellows, or published the much-referred to series on job hunting in CSR.

4) News: Believe it or not, Twitter has become a significant source of my daily news. With the help of coordinated lists, I can scan the morning news in one stream all at one source.

5) Innovation: How many times have you read an 800-word article in one the mainstream newspapers and thought “Wow, that’s interesting, I wonder how I could learn more” or “I’d love to get involved” but haven’t known what to do next? Well, because it’s so easy to connect with others on Twitter without having to jot down strenuous emails or phone calls, now you can!

_________________________________

But Connor also brought up transparency and corporate accountability.

And here is where most companies struggle with the plethora of choices available today under the domain of social media: Facebook, Twitter, LinkedIn, Quora, Digg, StumbleUpon, Reddit, and the new kids on the block BranchOut and Google+, to name just a few.

So, how helpful are these channels? BRANDfog, a social media and CSR consulting firm launched a survey last week that begins to dig deeper into some of these questions.

Social Media and Leadership:

Should CEOs be engaging on Twitter for example? Does that help gain trust with customers, loyalty with employees, or raise the bar on transparency?

Recruitment Decisions:

Has social media become a benchmarking tool for prospective candidates in their recruitment decisions?

CSR and Sustainability:

And does a presence on social media help companies illustrate their brand values, mission and corporate citizenship?

What do you think? Take this short survey and have your say. Is social media emerging as the differentiator in today’s crowded market of jobs, business, and consumer loyalty?

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