SBP's benchmarking tool provides companies with a qualitative assessment of the extent to which they have adopted sustainable management practices.
The tool measures performance against a number of characteristics that together represent the qualities needed to attain leadership and gain competitive advantage through sustainability.
The benchmarking results demonstrate the company's progress towards sustainability by positioning the company in one of the following stages: "Business as Usual", "Keeping Pace" or "Setting the Pace". This enables development of a targeted sustainability strategy that is responsive to the needs and aspirations of the company.
Developing the SBP Benchmarking tool
The development of the benchmark methodology was based on extensive research into the leading literature, company case studies and reporting guidelines including the GRI, DJSI and Reputex Social Responsibility Ratings.
Each of these was reviewed to provide an insight into the qualities and characteristics of leading sustainability-driven organisations.
Indicators from GRI's Sustainability Reporting Guidelines for 2002, the DJSI Sustainability
Assessment Questionnaire, and Reputex's General Criteria and Indicators were analysed for common elements. Once these common elements were established, categories were created representing a number of key characteristics to identify leading sustainability performance. These categories were further refined by identifying common themes in the data.
Ten themes emerged from the review. Each theme represents a key focus area for the management of corporate sustainability and provides a basis from which performance on sustainability can be assessed.
- Senior Management commitment and understanding
- Establishing sustainability objectives
- Leadership on key issues
- Establishing partnerships
- Integration of sustainability throughout the Organisation
- Sustainability management systems , measurement and reporting
- Framework for stakeholder engagement
- Enabling innovation
- Building capacity
- Effective corporate governance
The benchmarking tool is based on a synthesis of data from three major benchmarking tools and provides a valuable indication of the characteristics needed to perform on sustainability. We also continuously monitor and update the methodology to reflect current trends in corporate sustainability.
Benefits of Benchmarking:
The benchmarking tool is built on a combination of extensive industry experience and research by Sustainable Business Practices, and:
- provides a foundation from which a targeted sustainability strategy can be formulated
- helps position companies relative to their industry peers
- outlines the steps needed to gain competitive advantage; and
- draws attention to the range of strategies required to progress towards sustainability
