The importance of purpose for ESG and sustainability
Purpose is important for an organization to be successful at ESG and Sustainability. Purpose serves as the North Star for an organization. It is the organization “why”.
Purpose-driven organizations are highly committed to creating and delivering sustainable value in the market. They are resilient, agile, they understand how to pivot and readjust when things change while still remaining true to their core.
Purpose becomes the power that serves to move them forward in their unwavering commitment to delivering value.
What does a meaningful purpose statement for ESG look like?
A meaningful purpose statement is crisp and clear. It is a statement that articulates not only why you exist but who and how you are uniquely making a unique difference to those that you serve, to your communities, to your customers, to your stakeholders. It's actually a statement that inspires & ideally transcends time.
Who needs to own purpose?
Purpose is more than just the words in an annual ESG and Sustainability report. Everyone needs to own purpose. When done well, it is embedded in everything that you do within your organization - it is a part of the fiber, part of the why, part of everything that you touch. In doing so successfully and when you know that purpose is owned by everyone, you see it reflected in how you serve your customers, clients, communities and talent.
With purpose at the center, everyone in the organization has a role in living and owning it.