British Columbia is home to many innovative businesses committed to sustainability. Studies show that sustainable companies tend to be more profitable over the long term._¹ 

Committing to and embedding sustainability is a journey – which can lead to meaningful benefits for your business. Whether you want to attract new customers or diversify your supply chain, understanding ESG can help your company’s competitive advantage. The good news is that many B.C. businesses – possibly even yours – are already engaged in sustainable and ESG-aligned activities, often without realizing it.

¹ “The Triple Play: Growth, Profit and Sustainability” (McKinsey & Company, 2024)

Practical Steps to Harnessing Sustainability Advantages 

Embarking on the sustainability journey doesn’t have to be daunting. Instead, view it as a manageable, step-by-step process – from understanding ESG principles, to taking meaningful action and eventually, marketing or reporting your results. Like many journeys, sustainability is a long-term commitment that unfolds over time, and the approach will vary for each company, regardless of size and industry.

Sustainability is an achievable goal, no matter the size or sector of your business. By breaking it down into steps, you can make progress and gain a competitive edge.

Let’s consider a real-world example:  

Gulliver’s Café
Gulliver’s Café is a small locally run coffee shop in Nelson that is committed to environmental and social principles. Recently, Gulliver’s Cafe has seen a drop in business after a brand-name coffee chain moved into the neighborhood. How can they win back customers, build resiliency and compete, through sustainability?

Step 1: Assess Current Practices 

By evaluating their current practices, Gulliver’s Café can gain insight into their present position and future goals, while leveraging their commitment to sustainability as a key competitive advantage. 

Example: Gulliver’s Café
Gulliver’s Café assesses their current sustainability actions across the ESG pillars:

* Environmental (E): Reduces waste by offering reusable cups and sources ethically, purchasing beans from fair-trade, eco-friendly farms. 
* Social (S): Prioritizes diversity in hiring and donate a portion of its proceeds to local food banks.
* Governance (G): Maintains transparent accounting practices and engages employees in decision-making processes.

Step 2: Set Priorities

Focus on what matters most to your business and community. Which areas resonate with your values and goals? No company can do it all – pick a few areas to start.

Example: Gulliver’s Café
Gulliver’s Café values environmental sustainability and understands that their customers feel the same way. The store wants customers to feel good about their purchases and that with each visit, they are supporting sustainable practices for a greener planet. 

The café prioritizes customer experience and their engagement with the community – this is key! And they want to be a sustainability leader with the help and support of like-minded customers.

Step 3: Take Action 

Combine existing practices with new initiatives.

Example: Gulliver’s Café
Gulliver’s Café is committed to strengthening existing practices (i.e., recycling, ethical sourcing, inclusive hiring, community giving, etc.) while bolstering new activities.

Gulliver’s Café is proud to launch:
* Partnerships with community gardens to give away coffee grounds.
* Incentive program for customers bringing recyclable cups.

Gulliver’s Café highlights their sustainability initiatives and new programs on the website and in store.

Step 4: Measure and Share Progress

Use simple metrics to track your impact and keep a consistent record of your efforts. Share updates with employees, customers, and stakeholders to build trust and transparency. 

Example: Gulliver’s Café
Gulliver’s Café builds a robust sustainability program. The coffee shop starts tracking metrics – from number of recycled cups to pounds of coffee grounds used in local gardens – and shares information on their website. In true circular economy fashion, the café plans to offer baked goods using produce from the garden!  

Over the few weeks, Gulliver’s Café receives enthusiastic response from existing patrons, attracts new customers and sees an uptick in business. By strengthening and promoting sustainable practices, the business not only appeals to eco-conscious customers but builds a stronger, more loyal community.

Ready to take the first step?

You don’t have to pursue the sustainability path alone. The ESG Centre of Excellence offers free advisory services, tools, and resources to guide you at every stage of your journey. 

Here’s how to start: 

1. Download our ESG 101 Guide 

2. Contact the ESG Centre of Excellence to assess your ESG maturity  

Contact us today, get personalized advice and join other forward-thinking B.C. businesses leading the way to a more sustainable future.