A rigorous methodology underpins the 2022 Sustainability Leaders list, an initiative of the Financial Review and Boston Consulting Group.
The inaugural Sustainability Leaders list is an initiative of the Financial Review and Boston Consulting Group (BCG).
It celebrates organisations that are both achieving a positive impact on the environment and society and growing their business.
Woolworths Group shows how sustainability innovation can add value to business and to the community.
The list highlights leading sustainable innovations from entrants who submitted a sustainable business model innovation across nine industry categories and three special awards. Evidence continues to build of correlation between balanced ESG vision and approach and long-term value protection and creation. Our strategy think tank, the BCG Henderson Institute, has spent years studying how companies do this effectively.
We are observing companies on a journey from traditional CSR approaches, through ‘compliance driven’ and ‘reactive’ sustainability, to that we call Sustainable Business Model Innovation (SBM-I) where business value creation and ESG are mutually reinforcing.
Sustainability Leaders list entrants were assessed against the four dimensions of BCG’s SBM-I framework.
Australasian organisations, or the Australasian offices of global organisations, that have operated for more than one year, were invited to submit an innovation that was embedded in the business, contributed to better environmental and social outcomes, and created tangible business value. This innovation could be a product or service, strategy or initiative.
A market analysis was not conducted as part of the creation of the list, and only organisations which submitted had their application assessed. Entrants filled out an extensive survey covering the four dimensions of the SBM-I framework.
This information alone was used to assess entrants and develop the lists. An expert panel with representatives from BCG and the Financial Review then approved lists and chose the overall winners, category winners and innovators and special awards. Each entrant receives a unique benchmarking report with the results of their assessment.
– BCG Team
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