Sustainability strategy

Environmental and social challenges are becoming more and more important. Businesses, as a major part of society, need to take action by developing their sustainability strategy. Taking action is not only a regulatory requirement but is necessary to survive, as people and markets demand change. Taking action for our planet and climate adaptation is one facet, but, social aspirations, public health and well-being are essential factors for a company to implement a sustainable business model. 

Companies are now strategizing and implementing sustainable business models. Sia Partners can help your company develop a sustainable strategy with the following approach: 

1. Identify your company’s vision and ambition 

We will help identify your vision and ambition by setting the scope and expressing your main levers and motivations to adapt your strategy. We can also help understand the intrinsic need and urgency of the situation.

Sia Partners’ offer presents a holistic sustainable strategy exercise but can be adapted according to your company’s ambition.

2. Conduct a double materiality assessment 

A materiality assessment is necessary for a company to identify their material topics at the stakeholder level. A double materiality allows your company to not only identify the company’s needs but also take the challenges of the ecosystem into account. This exercise serves as a risk assessment and a priority identification. 

3. Identifying SDG, global goals and priority areas 

Based on the materiality assessment, we’ll identify the underlying SDGs and targets, evaluate which SDGs are directly in line with the company's operations and capabilities, and identify which SDGs present indirect impacts through secondary actions and associations. Based on the UN SDGs we’ll develop ESG goals and identify the associated priority areas to draw up the main aspirations of the sustainability strategy. 

4. Formulating a sustainability strategy (roadmap and action) for the following aspects:

• Environmental 
• Social 
• Governance 

These newly identified ESG goals will be translated into a roadmap with concrete action plans. The actions are inspired by best practices, international frameworks and regulatory requirements and standards.  

5. Communicating actions through ESG reporting  

Finally, the sustainable strategy and roadmap will be communicated through ESG reporting. Non-financial reporting can be undertaken using the GRI standards but also CDP, Ecovadis, SBTi etc. ESG reporting gives your company’s sustainability strategy the transparency, enhancement and the accreditation it deserves.