Businesses have an opportunity to turn uncertainty into a “real catalyst for sustainable growth”, provided it is sufficiently embedded into their operating model, Virginie Helias, chief sustainability officer at consumer goods giant Procter & Gamble, has told a conference in London.
Speaking on a panel on the topic of Fostering sustainability resilience in times of change at the Reuters Events Sustainability Europe event in London this week, Helias suggested four areas where firms can harness the volatility of the market to drive positive change, the first of which is ‘integration’.
“When you have hardwired sustainability into your business model, into your systems and processes, it’s actually very difficult to roll back your commitments,” she commented. “You can only step forward.”
Competitive advantage
Secondly, innovation, or more importantly, ensuring you innovate ahead of regulation can drive “competitive advantage over compliance”, she noted, citing P&G’s efforts to develop effective packaging re-use models.
The third factor is collaboration, with Helias urging businesses to “double down on deep partnerships across the value chain”. As she noted, P&G recently announced a partnership with a major chemicals supplier to “decarbonise our raw material at the source”.
Finally, as she noted, communication is critical, “Internally, we need to reassure our employees of our unwavering commitment to sustainability. And externally, we need to have transparent communication, both on our progress and on our challenges.”
Sustainability as an ‘amplifier’
Elsewhere during the conversation, Helias described sustainability as having an “amplifying” effect – both for the consumer, who can get more value out of sustainable products, and for the broader consumer goods landscape.
“If you take the lazy view, that sustainability is a cost that the business has to bear, then when things get tough […] it becomes a pressure point. But if sustainability is part of your business model, it’s not easy, but you can make it work.”
Helias shared the stage with Annette Stube, chief sustainability officer, LEGO Group, and Marissa Saretsky, chief sustainability officer, Opella, for the discussion, which was chaired by David Carlin. Read more here.
