Don’t worry, not another “top ten trends for 2012” piece. There are plenty of those about.
Instead, with economic jitters continuing and a serious risk of recession on the cards forEurope, could we look back on 2012 as a year defined by economic uncertainty?
What might be the implications for responsible business practices?
Jobs, Jobs, Jobs! Unemployment is now one of the most talked about topics globally. Job creation will be a big theme for companies in 2012. Expect to see more examples like the Starbucks’ fund to promote jobs in theUS.
Economic Impacts. Job creation is just one part of a company’s economic impacts. Whilst social and environmental issues have traditionally received the most attention, economic impacts are less prominent. That’s changing. How is the wealth the business creates shared between employees, managers, shareholders and governments? How much tax are you paying? What’s the pay differential between the Chief Executive and staff? Many more companies will try to answer these questions in 2012.
Value for Money. In tough economic times, corporates are explaining how sustainability saves money. Inefficiencies are cut out; crucial resources like energy are conserved. Two UK supermarkets did exactly this in late 2011. Walmart’s UK arm, ASDA, recently reported in was on track for £800m in savings from sustainability to help keep prices low for shoppers. Sainsbury’s launched its new Sustainability Plan under the consumer campaign ‘Live Well for Less’ – championing new commitments like Fairtrade as part of a value promise to customers.
Juggling Budget Pots. According to some recent research, sustainability spending by companies is set to rise in 2012, but businesses will increasingly draw on budgets from different sources. Many see now as the time to try to embed activity across the company. That often means working with HR to get employees engaged. Others will focus on harnessing their brands or collaborating with NGOs and other business partners. Sustainability won’t dry up in 2012, but it might be funded in some novel ways.
Despite the gloomy outlook, there is cause for optimism. Economic downturns don’t stop sustainability. They force programmes to evolve to reflect new realities. If money continues to be tight, we can expect some exciting new innovations in the field to emerge in 2012.