1.2"#+'3!L7%)-7!I*(4'3!

('+*7$+

The business of sustainability

!"#$%&"'()*+$,%)#$%')*)-+*-%,.,/)+*)0+1+/2%/"%+'(#"3$%(#"&$,,$,4%(.#,.$%-#"5/64%)*7%%
)77%3)1.$%/"%/6$+#%&"'()*+$,%#)/6$#%/6)*%8"&.,+*-%"*%#$(./)/+"*%)1"*$9
Many companies are actively integrating sustainability principles!"#$%!$&'"(!

)*+"#'++'+,!-..%(/"#0!$%!-!('.'#$!1.2"#+'3!+*(4'3,5!-#/!$&'3!-('!/%"#0!+%!)3!6*(+*"#0!!
0%-7+!$&-$!0%!8-(!)'3%#/!'-(7"'(!.%#.'(#!8%(!('6*$-$"%#!9-#-0'9'#$:8%(!';-967',!!
+-4"#0!'#'(03,!/'4'7%6"#0!0(''#!6(%/*.$+,!-#/!('$-"#"#0!-#/!9%$"4-$"#0!'967%3''+,!-77!%8!
<&".&!&'76!.%96-#"'+!.-6$*('!4-7*'!$&(%*0&!0(%<$&!-#/!('$*(#!%#!.-6"$-7=!>#!%*(!!
+";$&!+*(4'3!%8!';'.*$"4'+!%#!&%<!$&'"(!.%96-#"'+!*#/'(+$-#/!-#/!9-#-0'!"++*'+!('7-$'/!$%!
5!!

C&'!%#7"#'!+*(4'3!<-+!"#!$&'!!
HOGIURP-XO\WR-XO\!
-#/!('.'"4'/!('+6%#+'+!8(%9!
H[HFXWLYHVUHSUHVHQWLQJWKH
8*77!(-#0'!%8!('0"%#+,!"#/*+B!
$("'+,!$'#*('+,!.%96-#3!+"F'+,!
-#/!8*#.$"%#-7!+6'."-7$"'+=
?!!
'HQHGDVDFRPELQDWLRQRI
'#4"(%#9'#$-7,!+%."-7,!-#/!0%4'(B
#-#.'!"++*'+!-7+%!A#%<#!!
-+!.%(6%(-$'!+%."-7!('+6%#+"B
)"7"$3!GHIJK!%(!.%(6%(-$'!
('+6%#+")"7"$3=

Hadley Hooper

+*+$-"#-)"7"$3,?!$&"+!3'-(@+!('+*7$+!+&%<!$&-$,!+"#.'!7-+$!3'-(,!7-(0'(!+&-('+!%8!';'.*$"4'+!!
+-3!+*+$-"#-)"7"$3!6(%0(-9+!9-A'!-!6%+"$"4'!.%#$(")*$"%#!$%!$&'"(!.%96-#"'+@!+&%($B!-#/!!
7%#0B$'(9!4-7*'=
C&"+!+*(4'3!';67%('/!<&3!-#/!&%<!.%96-#"'+!-('!-//('++"#0!+*+$-"#-)"7"$3!-#/!$%!<&-$!';$'#$!
H[HFXWLYHVEHOLHYHLWDIIHFWVWKHLUFRPSDQLHVERWWRPOLQHQRZDQGRYHUWKHQH[WYH\HDUV,QD
('7-$'/!%6"#"%#!6"'.',!DE*$$"#0!"$!"#$%!6(-.$".',D!-$!$&'!'#/!%8!$&"+!+*(4'3,!$&'!-*$&%(+!-(0*'!$&-$!
9%('!)*+"#'++'+!<"77!&-4'!$%!$-A'!-!7%#0B$'(9!+$(-$'0".!4"'<!%8!$&'!"++*'!)3!"/'#$"83"#0!-#/!
6*(+*"#0!+*+$-"#-)"7"$3!%66%($*#"$"'+!$&-$!&%7/!$&'!&"0&'+$!4-7*'!6%$'#$"-7=

M#!$&'!<&%7',!('+6%#/'#$+!('6%($!-!9%('!<'77B(%*#/'/!*#/'(+$-#/"#0!%8!+*+$-"#-)"7"$3!-#/!!
LWVH[SHFWHGEHQHWVWKDQLQSULRUVXUYH\V$VLQWKHSDVWWKH\VHHWKHSRWHQWLDOIRUVXSSRUWLQJ
FRUSRUDWHUHSXWDWLRQ%XWWKH\DOVRH[SHFWRSHUDWLRQDODQGJURZWKRULHQWHGEHQHWVLQWKH
-('-+!%8!.*$$"#0!.%+$+!-#/!6*(+*"#0!%66%($*#"$"'+!"#!#'<!9-(A'$+!-#/!6(%/*.$+=!!
N*($&'(9%(',!('+6%#/'#$+!"#!.'($-"#!"#/*+$("'+:'#'(03,!$&'!';$(-.$"4'!"#/*+$("'+,O!-#/!
$(-#+6%($-$"%#:('6%($!$&-$!$&'"(!.%96-#"'+!-('!$-A"#0!-!9%('!-.$"4'!-66(%-.&!$&-#!!
O!!

>#!$&'+'!+*(4'3!('+*7$+,!$&"+!
0(%*6!"#.7*/'+!('+6%#/'#$+!8(%9!
$&'!.%-7,!9'$-7,!%"7!-#/!!
0-+!';$(-.$"%#,!6'$(%7'*9!-#/!
#-$*(-7!0-+!/"+$(")*$"%#,!
SHWUROHXPUHQLQJDQGRWKHU
9"#"#0!+*)"#/*+$("'+=
P!!
7KHRQOLQHVXUYH\ZDVLQWKHHOG
LQ)HEUXDU\DQGUHFHLYHG
('+6%#+'+!8(%9!5,UPT!';'.*$"4'+!
('6('+'#$"#0!-!<"/'!(-#0'!%8!
"#/*+$("'+!-#/!('0"%#+=!
S!!
,QWKHDQVZHUFKRLFH!
<-+,!V)*"7/"#0,!9-"#$-"#"#0,!%(!
"96(%4"#0!%*(!.%(6%(-$'!
UHSXWDWLRQLQWKHDQVZHU
.&%".'!<-+,!V9-"#$-"#"#0!%(!
"96(%4"#0!.%(6%(-$'!('6*$-$"%#=W!
T!!
,QWKHDQVZHUFKRLFH!
<-+,!V-7"0#9'#$!<"$&!.%96-#3@+!
)*+"#'++!0%-7+=W!

$&%+'!"#!%$&'(!+'.$%(+,!6(%)-)73!-+!-!('+*7$!%8!$&%+'!"#/*+$("'+@!6%$'#$"-7!('0*7-$%(3!-#/!
#-$*(-7B('+%*(.'!.%#+$(-"#$+=
A more active agenda

7KHUHDUHVRPHQRWHZRUWK\FKDQJHVVLQFHRXUVXUYH\P!"#!$&'!-.$"%#+!';'.*$"4'+!!
('6%($!$&'"(!.%96-#"'+!-('!$-A"#0!%#!+*+$-"#-)"7"$3,!$&'"(!('-+%#+!8%(!/%"#0!+%,!-#/!$&'!';$'#$!!
$%!<&".&!$&'3!&-4'!"#$'0(-$'/!+*+$-"#-)"7"$3!"#$%!$&'"(!)*+"#'++=!N%(!"#+$-#.',!$&'!+&-('!!
%8!('+6%#/'#$+!+-3"#0!$&'"(!.%96-#"'+@!$%6!('-+%#+!8%(!-//('++"#0!+*+$-"#-)"7"$3!"#.7*/'!
LPSURYLQJRSHUDWLRQDOHIFLHQF\DQGORZHULQJFRVWVMXPSHGSHUFHQWDJHSRLQWV!
+"#.'!7-+$!3'-(,!$%!OO!6'(.'#$=!C&"+!.%#.'(#!8%(!.%+$+!('67-.'+!.%(6%(-$'!('6*$-$"%#!-+!$&'!9%+$!!
8('Q*'#$73!.&%+'#!('-+%#R!-$!O?!6'(.'#$,!('6*$-$"%#S!"+!$&'!+'.%#/!9%+$!."$'/!('-+%#,!!
8%77%<'/!)3!-7"0#9'#$!<"$&!$&'!.%96-#3@+!)*+"#'++!0%-7+,!9"++"%#,!%(!4-7*'+T!GO5!6'(.'#$K!!
DQGQHZJURZWKRSSRUWXQLWLHVSHUFHQWZKLFKFOLPEHGSHUFHQWDJHSRLQWVVLQFH!
7-+$!3'-(=

Survey 2011
Sustainability
Exhibit 1 of 6
Exhibit title: Moving beyond reputation
Exhibit 1

Moving beyond reputation

% of respondents,1 n = 2,956

Company is currently
taking action

Reducing energy use in operations

63

Reducing waste from operations

61

Company is
more effective than
competitors
47
44
57

51

Managing corporate reputation for sustainability

46

Responding to regulatory constraints or opportunities

43

Reducing emissions from operations

Managing portfolio to capture trends in sustainability

38

Reducing water use in operations

38

50
48
56
46

31

Committing R&D resources to sustainable products

59

Leveraging sustainability of existing products

to reach new customers or markets

28

Managing impact of products throughout

the value chain

28

50

Improving employee retention and/or motivation

related to sustainability activities

26

48

Mitigating operational risk related to climate change

Achieving higher prices or greater market share
from sustainable products

22

61

41

18

!"#$%&'()$(*%"+,'"-(%+$.$)"/)'(0*"1('+2"'."/('($"'3"*,$"-4'5$2"-.$"('*"%,'+(6

C&'('8%(',!"$@+!#%$!+*(6("+"#0!$&-$!$&'!-('-+!<&'('!9%+$!';'.*$"4'+!+-3!$&'"(!.%96-#"'+!!
-('!$-A"#0!-.$"%#!-('!('/*."#0!'#'(03!*+-0'!-#/!('/*."#0!<-+$'!"#!%6'(-$"%#+,!-&'-/!%8!
('6*$-$"%#!9-#-0'9'#$!GX;&")"$!5K=!N'<'(!('+6%#/'#$+!('6%($!$&-$!$&'"(!.%96-#"'+!-('!
OHYHUDJLQJWKHVXVWDLQDELOLW\RIH[LVWLQJSURGXFWVWRQGQHZJURZWKRUFRPPLWWLQJ!
JYZ!('+%*(.'+!$%!)("#0!+*+$-"#-)7'!6(%/*.$+!$%!9-(A'$=!['$!)%$&!%8!$&'+'!-('!"96%($-#$!<-3+!
+*+$-"#-)"7"$3!.-#!/("4'!0(%<$&\!%(0-#"F-$"%#+!$&-$!-.$!"#!$&'+'!-('-+!-('!$&'!7"A'7"'+$!!
$%!+-3!$&'3@('!9%('!'88'.$"4'!$&-#!$&'"(!.%96'$"$%(+!-$!9-#-0"#0!-#3!%$&'(!+*+$-"#-)"7"$3!
LQLWLDWLYHV7KHVHUHVXOWVVXJJHVWWKDWFRPSDQLHVPD\EHEHWWHUDEOHWRQGDFRPSHWLWLYH
-/4-#$-0'!<&'#!6*(+*"#0!0(%<$&!-.$"4"$"'+!$&-#!%6'(-$"%#-7!-.$"4"$"'+=

52

H%96-#"'+!-('!-7+%!"#$'0(-$"#0!+*+$-"#-)"7"$3!-.(%++!9-#3!6(%.'++'+,!-..%(/"#0!$%!
('+6%#/'#$+\!S]!6'(.'#$!+-3!$&'"(!.%96-#"'+!&-4'!"#$'0(-$'/!+*+$-"#-)"7"$3!"#$%!+$(-$'0".!
67-##"#0!GX;&")"$!?K=!C&'!9%+$!"#$'0(-$'/!-('-!"+!9"++"%#!-#/!4-7*'+,!8%77%<'/!)3!!
';$'(#-7!.%99*#".-$"%#+,!<&"7'!$&'!7'-+$!"#$'0(-$'/!-('-+!-('!+*6673!.&-"#!9-#-0'9'#$!!
-#/!)*/0'$"#0=!C&-$!+-"/,!+*+$-"#-)"7"$3!&-+!+$-3'/!-$!-)%*$!$&'!+-9'!67-.'!%#!HXM+@!!
-0'#/-+,!-#/!-)%*$!$&'!+-9'!+&-('!%8!('+6%#/'#$+!+-3!$&'3!&-4'!8%(9-7!6(%0(-9+!$%!-//('++!"$!
GX;&")"$!OK=!C&'!+&-('!%8!('+6%#/'#$+!+-3"#0!$&'"(!.%96-#"'+!'88'.$"4'73!9-#-0'!+*+$-"#-)"7"$3!
Survey
2011
&-+!'4'#!+&(*#A!+%9'<&-$=!I$-($"#0!7-+$!3'-(,!<'!*+'/!$&'+'!$&(''!.&-(-.$'("+$".+!$%!!
Sustainability
Exhibit 2 of 6
Exhibit title: Widespread integration
Exhibit 2

Widespread integration
% of respondents, n = 2,956
Business processes into which sustainability has been completely or mostly integrated
67

Mission and values

57

Strategic planning

External communications

60

Marketing

54

Corporate culture

59

Employee engagement

Internal communications

58

Supply chain management

41

Operations

58

Budgeting process

39

50

Survey 2011
Sustainability
Exhibit 3 of 6
Exhibit title: Little change across leadership criteria
Exhibit 3

Little change across leadership criteria

% of respondents1
How sustainability activities are organized

Most
important
agenda priority

2011, n = 3,203
2010, n = 1,946

A few activities but no formal

program to address issues

31
30

Sustainability is embedded
in business practices,
with a formal program to
address issues

24
22

A formal sustainability
program to address issues

18
16

]!!

J'+6%#/'#$+!"#!$&"+!0(%*6!+-3!
+*+$-"#-)"7"$3!"+!'"$&'(!$&'!9%+$!
"96%($-#$!%(!-!$%6B$&(''!!
6("%("$3!%#!$&'"(!HXM+@!-0'#/-,!
$&-$!"$!"+!'9)'//'/!"#!$&'"(!
.%96-#"'+@!)*+"#'++!6(-.$".'+,!
$&-$!$&'"(!.%96-#"'+!&-4'!!
-!8%(9-7!6(%0(-9!$%!-//('++!
('7-$'/!"++*'+,!-#/!$&-$!!
$&'"(!.%96-#"'+!9-#-0'!+*+$-"#B
-)"7"$3!4'(3!%(!';$('9'73!
'88'.$"4'73=!C&"+!3'-(@+!-#-73+"+!!
"+!#%$!8*773!.%96-(-)7'!$%!!
WKHVXVWDLQDELOLW\VXUYH\
)'.-*+'!V7'-/'(+W!"#!$&'!!
9%+$!('.'#$!+*(4'3!"#.7*/'!
'#'(03!"#/*+$(3!('+6%#B!
GHQWVZKHUHDVWKHVXUYH\
';.7*/'/!$&'9!8(%9!$&'!!
7'-/'(+!0(%*6=
^!!
1.2"#+'3@+!('+'-(.&!%#!
+*+$-"#-)"7"$3!-#/!4-7*'!.('-$"%#!
&-+!-77%<'/!*+!$%!/'4'7%6!!
-!8(-9'<%(A!$&-$!+&%<+!&%<!
+*+$-"#-)"7"$3!.('-$'+!!
4-7*'!8%(!.%96-#"'+!<"$&!!
WKUHHOHYHUV7RQGRXWPRUH
-)%*$!&%<!.%96-#"'+!.-#!-6673!
$&'+'!7'4'(+,!+''!DE*$$"#0!"$!"#$%!
6(-.$".',D!%#!6-0'!5?=

2011,
n = 2,956

18
20

8
8

A topthree agenda
priority

A priority,
but not
top three

Not a
significant
agenda item

2010,
3
n = 1,749

26

45

23

48

22
24

Companys overall effectiveness at

managing its sustainability
Extremely

Sustainability is embedded
in business practices,
with no formal program to
address issues
No sustainability activities

Where sustainability falls on the CEOs global agenda

2011,
3
n = 2,956
2010,
4
n = 1,705

Very

Somewhat

24
28

Slightly

46
40

Not at all

21

21

!"#$%&'()$(*%"+,'"-(%+$.$)"/)'(0*"1('+2"-.$"('*"%,'+(3"4("56!67"/)'(0*"1('+2"+-%"('*"849$("-%"

-("-(%+$.":,'4:$"4("*,$"'9$.-;;"$<<$:*49$($%%"=>$%*4'(?

GHQHDJURXSRIVXVWDLQDELOLW\OHDGHUV]!.%96-#"'+!$&-$!-('!9%('!-/'6$!-$!.-6$*("#0!4-7*'!
$&(%*0&!+*+$-"#-)"7"$3!-7%#0!4-("%*+!9'-+*('+!$&-$!$&'!+*(4'3!-+A'/!-)%*$=
Leading the way with a strategic approach

>#!0'#'(-7,!('+6%#/'#$+!8(%9!.%96-#"'+!"#!$&'!7'-/'(+@!0(%*6!+-3!$&'"(!.%96-#"'+!/%!9%('!!
%#!'4'(3!-+6'.$!%8!+*+$-"#-)"7"$3R!$&"+!"+!'+6'."-773!$(*'!"#!$&'!-('-+!%8!0(%<$&!-#/!("+A!
9-#-0'9'#$!$&-$,!-7%#0!<"$&!('$*(#!%#!.-6"$-7,!-('!$&(''!<-3+!"#!<&".&!+*+$-"#-)"7"$3!.-#!
.('-$'!4-7*'!)-+'/!%#!1.2"#+'3!('+'-(.&^!GX;&")"$!PK=!N%(!';-967',!UP!6'(.'#$!+-3!$&'"(!
.%96-#"'+!&-4'!"#$'0(-$'/!+*+$-"#-)"7"$3!"#$%!+$(-$'0".!67-##"#0,!4'(+*+!SO!6'(.'#$!%8!-77!%$&'(!
('+6%#/'#$+=!H%96-('/!<"$&!$&'!"#$'0(-$"%#!%8!+*+$-"#-)"7"$3!"#$%!%$&'(!6(%.'++'+,!!
&%<'4'(,!$&'!7'-/'(+@!+*6673!.&-"#+!-#/!)*/0'$+!-('!7'++!"#$'0(-$'/R!('+6%#/'#$+!-$!%$&'(!
.%96-#"'+!('6%($!$&"+!6-$$'(#!-+!<'77=!>#!-//"$"%#,!('+6%#/'#$+!"#!$&'!7'-/'(+@!0(%*6!!
-('!9%('!7"A'73!$&-#!%$&'(!('+6%#/'#$+!$%!('6%($!$&-$!$&'"(!.%96-#"'+!-('!6*(+*"#0!'-.&!%8!$&'!
5O!-.$"%#+!('7-$'/!$%!+*+$-"#-)"7"$3!7"+$'/!"#!$&'!+*(4'3,!-#/!$&'3!(-$'!$&'9+'74'+!9%('!'88'.$"4'!
-$!$-A"#0!-.$"%#,!('7-$"4'!$%!.%96'$"$%(+,!9%('!%8$'#!$&-#!$&'!('+$!%8!('+6%#/'#$+!/%=

Survey 2011
Sustainability
Exhibit 4 of 6
Exhibit title: Leading with action
Exhibit 4

Leading with action

% of respondents1

Sustainability leaders, n = 293

All other respondents, n = 2,663

Amarelos indicam intens

que lderes mais utilizam

Value-creation
levers
Growth

Verdes indicam itens que

tm maior gap entre lderes
e amostra total

Company is currently
taking action
Committing R&D resources to
sustainable products

Achieving higher prices

or market share because of
sustainable products
Improving employee retention
and/or motivation related to
sustainability activities
Managing impact of products
throughout the value chain

19

Reducing emissions from

operations

61

Reducing waste from operations

60

Reducing water use in operations

Mitigating operational risk related

to climate change
Responding to regulatory
constraints or opportunities

74

44

44

!"#$%&'()$(*%"+,'"-(%+$.$)"/)'(0*"1('+2"'."/('($"'3"*,$"-4'5$2"-.$"('*"%,'+(6

74

43

68

41

73

41

80

53
69

35
64

67
72

43

77

49
19

76

58

36

Managing corporate reputation

for sustainability

46

73

40

70

70

44
66

Reducing energy use

in operations

Risk
management

46

44

24

85

50

42

15

78

57
70

35

80

53

58

25

Managing portfolio to capture

trends in sustainability
Return on
capital

62

28

Leveraging sustainability of
existing products to reach new
customers or markets

Company is more effective

than competitors

48

68

X;'.*$"4'+!"#!$&'!7'-/'(+@!0(%*6!-('!-7+%!9%('!7"A'73!$%!+-3!$&'"(!.%96-#"'+!-('!$-A"#0!&"0&'(B
7'4'7,!9%('!+$(-$'0".!-.$"%#+\!9*.&!&"0&'(!+&-('+!%8!7'-/'(+!-('!9-#-0"#0!$&'"(!)*+"#'++!
6%($8%7"%+!$%!.-6$*('!$('#/+!"#!+*+$-"#-)"7"$3!-#/!.%99"$$"#0!JYZ!('+%*(.'+!$%!+*+$-"#-)7'!
SURGXFWV)XUWKHUPRUHMXVWSHUFHQWRIUHVSRQGHQWVDWWKHVHFRPSDQLHVVD\WKH\KDYH
+*+$-"#-)"7"$3!6(%0(-9+!"#!67-.'!$%!('+6%#/!$%!('0*7-$%(3!('Q*"('9'#$+,!.%96-('/!<"$&!!
?S!6'(.'#$!%8!-77!%$&'(!('+6%#/'#$+=!C&%+'!"#!$&'!7'-/'(+@!0(%*6!-('!9%('!7"A'73!$%!+-3!"#+$'-/!
$&-$!+*+$-"#-)"7"$3!"+!-7"0#'/!<"$&!$&'"(!0%-7+,!9"++"%#,!-#/!4-7*'+!GSU!6'(.'#$!4'(+*+!!
?^!6'(.'#$!%8!-77!%$&'(+K!-#/!$&-$!"$!+$('#0$&'#+!$&'"(!.%96'$"$"4'!6%+"$"%#!GPO!6'(.'#$!4'(+*+!
?P!6'(.'#$K=
>$@+!7"A'73!('7-$'/!$&-$!';'.*$"4'+!"#!$&'!7'-/'(+@!0(%*6!-('!9%('!$&-#!$<".'!-+!7"A'73!-+!!
-77!%$&'(+!$%!+-3!$&'"(!.%96-#"'+!.-6$*('!4-7*'!8(%9!+*+$-"#-)"7"$3!%66%($*#"$"'+=!>#/''/,!!
SHUFHQWVD\WKH\DUHFDSWXULQJDOOWKHYDOXHWKH\FDQYHUVXVSHUFHQWRIDOORWKHUV!
$QGZKLOHDOOUHVSRQGHQWVVWUXJJOHZLWKWKHSUHVVXUHRIVKRUWWHUPHDUQLQJVSHUIRUPDQFH!
-+!-!)-(("'(!$%!4-7*'!.('-$"%#,!$&'!7'-/'(+!+$(*007'!7'++!<"$&!7'-/'(+&"6,!+3+$'9+,!-#/!6(%.'++'+!
$&-$!'#-)7'!%(0-#"F-$"%#+!$%!/("4'!4-7*'!$&(%*0&!+*+$-"#-)"7"$3!GX;&")"$!SK=

Survey 2011
Sustainability
Exhibit 5 of 6
Exhibit title: Fewer barriers for leaders
Exhibit 5

Fewer barriers for leaders

% of respondents1

Sustainability leaders, n = 293

All other respondents, n = 2,663

Barriers that prevent companies from capturing potential

value from sustainability initiatives
Lack of incentives tied to
performance on sustainability
initiatives
Pressure of short-term earnings
performance is at odds with
longer-term nature of sustainability
Lack of, or use of wrong, key
performance indicators (KPIs)

13

Insufficient resources for

sustainability initiatives

15

Too few people are accountable

for sustainability
Current organizational structure
doesnt support accountability for
sustainability activities
Insufficient data or information to
implement initiatives

33

Sustainability isnt integrated into existing

performance management system

32
31

Business units are not engaged with

implementing sustainability initiatives

21

11

28

25

25

24

11

Company leadership sets sustainability

as too low a priority

Company lacks the right capabilities

and/or skills

Sustainability department is
disconnected from the rest of the
organization, or is too low to
be influential

We are capturing all the value we can

16

11

13
21

X;'.*$"4'+!<&%+'!.%96-#"'+!8-77!"#$%!$&'!7'-/'(+@!0(%*6!-7+%!('6%($!$&-$!'967%3''+!-$!-77!7'4'7+!
-('!8-(!9%('!A#%<7'/0'-)7'!-)%*$!$&'"(!.%96-#"'+@!+*+$-"#-)"7"$3!-.$"4"$"'+:-#/!$&-$!
+*+$-"#-)"7"$3!"+!9%('!"96%($-#$!8%(!-$$(-.$"#0!-#/!('$-"#"#0!'967%3''+:$&-#!('+6%#/'#$+!-$!
%$&'(!.%96-#"'+=U7KLVQGLQJVXJJHVWVWKDWWKHLQWHJUDWLRQRIVXVWDLQDELOLW\H[WHQGVIDU
_"$&"#!$&'!7'-/'(+@!0(%*6,!?O!6'(B!
.'#$!%8!('+6%#/'#$+!+-3!!
$&'"(!.%96-#"'+@!6'(8%(9-#.'!!
%#!+*+$-"#-)"7"$3!"++*'+!"+!!
%#'!%8!$&'!9%+$!"96%($-#$!8-.$%(+!
8%(!-$$(-.$"#0!-#/!('$-"#"#0!
'967%3''+,!<&"7'!S!6'(.'#$!%8!!
-77!%$&'(!('+6%#/'#$+!+-3!!
$&'!+-9'=

)'3%#/!)*+"#'++!6(-.$".'+!-$!$&'+'!.%96-#"'+=
>$@+!"96%($-#$!$%!#%$'!$&-$!$&'!9";!%8!"#/*+$("'+!('6('+'#$'/!"#!$&'!7'-/'(+@!0(%*6!/"88'(+!!
IURPWKHIXOOJURXSRIUHVSRQGHQWVWRWKHVXUYH\$KDQGIXORILQGXVWULHVDUJXDEO\WKRVHZLWK!
-!&"0&'(!"96-.$!%#!'#4"(%#9'#$-7!"++*'+!+*.&!-+!('+%*(.'!*+'!-#/!'9"++"%#+,!<&%+'!!
#''/!$%!)'!9%('!6(%-.$"4'!%#!+*+$-"#-)"7"$3!$%!'88'.$"4'73!9-#-0'!$&'"(!8*$*('!)*+"#'++!"+!!

19

17

!"#$%&'()$(*%"+,'"-(%+$.$)"/)'(0*"1('+2"'."/'*,$.2"-.$"('*"%,'+(3

U!!

20

30

9%('!*(0'#$:-('!%4'(('6('+'#$'/\!'#'(03,!';$(-.$"4'!"#/*+$("'+,!9-#*8-.$*("#0,!!
DQGWUDQVSRUWDWLRQ5HODWLYHO\IHZUHVSRQGHQWVIURPQDQFHUHWDLODQGEXVLQHVVOHJDO!
-#/!6(%8'++"%#-7!+'(4".'+!-('!"#!$&'!7'-/'(+!0(%*6=
Value creation and industry

C&'!8-.$!$&-$!+%9'!"#/*+$("'+!-('!%4'(('6('+'#$'/!"#!$&'!7'-/'(+@!0(%*6!&"0&7"0&$+!/"88'('#.'+!
"#!'96&-+"+!%#!-#/!'88'.$"4'!9-#-0'9'#$!%8!+*+$-"#-)"7"$3!-.(%++!"#/*+$("'+=!C&"+!.-(("'+!!
RYHUWRYDOXHFUHDWLRQ2YHUDOOWKHUHODWLRQVKLSEHWZHHQVXVWDLQDELOLW\DQGTXDQWLDEOHYDOXH
"+!+$"77!+%9'<&-$!*#.7'-(,!';'.*$"4'+!"#/".-$'\!-)%*$!%#'B$&"(/!%8!('+6%#/'#$+!+-3!$&'3!!
/%#@$!A#%<!&%<!9*.&!+*+$-"#-)"7"$3!"#"$"-$"4'+!-//!$%!+&-('&%7/'(!4-7*'!-$!$&'"(!.%96-#"'+=!>#!
-//"$"%#,!$&'!+&-('!$&-$!(-$'!+*+$-"#-)"7"$3@+!.%#$(")*$"%#!$%!+&%($B$'(9!4-7*'!-+!6%+"$"4'!&-+!
%#73!"#.&'/!*6!+"#.'!7-+$!3'-(@+!+*(4'3,!$%!P^!6'(.'#$=
+RZHYHUUHVSRQGHQWVGRFLWHVHYHUDOGLIIHUHQWOHYHUVIRUYDOXHFUHDWLRQRYHUWKHQH[WYH
\HDUV$PRQJWKHWRSDUHPDQDJLQJFRUSRUDWHUHSXWDWLRQFDSWXULQJVXVWDLQDELOLW\WUHQGVLQ
$&'!)*+"#'++!6%($8%7"%,!-#/!.%99"$$"#0!JYZ!('+%*(.'+!$%!+*+$-"#-)7'!6(%/*.$+R!-.(%++!
"#/*+$("'+,!$&'!('7-$"4'!"96%($-#.'!%8!'-.&!'88%($!4-("'+!GX;&")"$!TK=
J'+6%#/'#$+!-$!.%#+*9'(!-#/!`?`!.%96-#"'+!/"4'(0'!%#!$&'!7'4'(+!$&-$!.%*7/!/("4'!7%#0'(B
$'(9!4-7*'!.('-$"%#=!J'+6%#/'#$+!"#!)%$&!0(%*6+!';6'.$!('6*$-$"%#!$%!-//!-!+"9"7-(!!
OHYHORIVLJQLFDQWYDOXHRUPRUHWKDQSHUFHQWRIVKDUHKROGHUYDOXHLQGHHGLWVWKHPRVW
IUHTXHQWO\VHOHFWHGDFWLRQE\UHVSRQGHQWVDWFRQVXPHUFRPSDQLHV$PRQJ%%UHVSRQ!
/'#$+,!&%<'4'(,!$&'!&"0&'+$!+&-('!G?O!6'(.'#$K!+-3!9-#-0"#0!$&'"(!)*+"#'++!6%($8%7"%+!$%!
FDSWXUHVXVWDLQDELOLW\WUHQGVDGGVVLJQLFDQWYDOXHWRFRPSDQLHVLQWKHLULQGXVWULHV!
FRPSDUHGZLWKSHUFHQWRIFRQVXPHUUHVSRQGHQWV$FKLHYLQJKLJKHUSULFHVRUJUHDWHUPDUNHW
+&-('!$&(%*0&!+*+$-"#-)7'!6(%/*.$+,!.%99"$$"#0!JYZ!('+%*(.'+,!-#/!('+6%#/"#0!$%!
('0*7-$"%#+!&-+!9%('!4-7*'!6%$'#$"-7!8%(!`?`!.%96-#"'+,!';'.*$"4'+!+-3,!<&"7'!$&%+'!-$!
.%#+*9'(!.%96-#"'+!+''!9%('!6%$'#$"-7!"#!9-#-0"#0!+*+$-"#-)"7"$3!$&(%*0&!$&'!4-7*'!.&-"#,!
<-$'(!*+',!-#/!<-+$'=
$FURVVLQGXVWULHVH[HFXWLYHVDOVRGLIIHULQKRZWKH\YLHZEDUULHUVWRYDOXHFUHDWLRQ7KRVH!
DWH[WUDFWLYHUPVSRLQWWRDODFNRIFDSDELOLWLHVSHUFHQWYHUVXVSHUFHQWRIDOO
('+6%#/'#$+K!-#/!7-.A!%8!"#.'#$"4'+!$"'/!$%!+*+$-"#-)"7"$3!6'(8%(9-#.'!GP?!6'(.'#$!4'(+*+!!
O?!6'(.'#$K!-+!)'"#0!)"00'(!)-(("'(+!$&-#!$&'3!-('!8%(!('+6%#/'#$+!"#!%$&'(!"#/*+$("'+=!!
a"0&'(!+&-('+!%8!$(-#+6%($-$"%#!('+6%#/'#$+!$&-#!$&'!-4'(-0'!-7+%!."$'!7-.A!%8!"#.'#$"4'+!!
SHUFHQWZKLOHIHZHUH[HFXWLYHVDWHQHUJ\UPVVHOHFWPRVWRIWKHEDUULHUVSUHVHQWHG
6'(&-6+!+*00'+$"#0!$&-$!$&'3@4'!)''#!$&"#A"#0!-)%*$!+*+$-"#-)"7"$3!-#/!4-7*'!7%#0'(!!
$&-#!%$&'(+=!I%9'!"#!$&'!'#'(03!+'.$%(!/%!+$"77!."$'!A'3!6'(8%(9-#.'!"#/".-$%(+!G2E>+K!-#/!
"#$'0(-$"#0!+*+$-"#-)"7"$3!"#$%!$&'"(!6'(8%(9-#.'!9-#-0'9'#$!+3+$'9+!-+!.%#.'(#+=!!
([HFXWLYHVDWUHWDLOUPVDUHPRUHOLNHO\WRUHSRUWEDUULHUVH[FHSWIRURUJDQL]DWLRQDO
+$(*.$*('!-#/!-!/"+.%##'.$'/!+*+$-"#-)"7"$3!/'6-($9'#$:$&-#!$&'!-4'(-0'=



Survey 2011
Sustainability
Exhibit 6 of 6
Exhibit title: Value varies by industry
Exhibit 6

Value varies by industry

% of respondents
Total,
n = 3,203

Value-creation
levers
Growth

Committing R&D resources to

sustainable products

17

Energy (2), high tech/telecom (3),

manufacturing (1)

Leveraging sustainability of
existing products to reach new
customers or markets

15

Health care/pharma (3)

Managing portfolio to capture

trends in sustainability
Return on
capital

20

Energy (1), extractive services2 (3), finance (2),

high tech/telecom (1), manufacturing (2),
retail (3), transportation (2)

Achieving higher prices

or market share because of
sustainable products

13

Improving employee retention

and/or motivation related to
sustainability activities

11

Finance (3), health care/pharma (2)

Managing impact of products

throughout the value chain

13

Retail (1)

Reducing emissions from

operations

10

Reducing energy use

in operations

15

Extractive services (3), retail (3),

transportation (1)

Reducing waste from operations

13

Retail (2), transportation (3)

Reducing water use in operations

Risk
management

Industry, top three most cited activities1

with potential to create significant value over
the next 5 years

Managing corporate reputation

for sustainability
Mitigating operational risk related
to climate change
Responding to regulatory
constraints or opportunities

20

Energy (3), extractive services (1), finance (1),

health care/pharma (1), high tech/telecom (1),
manufacturing (2), retail (3), transportation (2)

8
13

Energy (3), extractive services (2),

health care/pharma (3)

!"#$%&'()"!*"+*",-."/*"0-"1,('-23')')*"0-.04,2'"23'"50()2*")'46-.*",-."230(."%6)2"5('7$'-289"436)'-",420:020')";0230-"',43"0-.$)2(9<"

+=30)">(6$1"0-48$.')"(')16-.'-2)"5(6%"23'"46,8*"%'2,8*"608",-.">,)"'?2(,4206-*"1'2(68'$%",-."-,2$(,8">,)".0)2(0&$206-*"1'2(68'$%"

('50-0->*",-."623'("%0-0->")$&0-.$)2(0')<"

55

Related thinking
How companies
manage sustainability:
McKinsey Global
Survey results

Looking ahead

&RPSDQLHVDUHQRWGRLQJDVPXFKWRLQWHJUDWHVXVWDLQDELOLW\LQWRLQWHUQDOFRPPXQLFDWLRQVRU
'967%3''!'#0-0'9'#$!-+!$&'3!-('!"#$%!%$&'(!-('-+!%8!)*+"#'++,!+*.&!-+!+$(-$'0".!67-##"#0=!_"$&!
SO!6'(.'#$!%8!('+6%#/'#$+!+-3"#0!.%96-#3!6'(8%(9-#.'!%#!+*+$-"#-)"7"$3!"+!-$!7'-+$!+%9'B!
<&-$!"96%($-#$!$%!-$$(-.$"#0!-#/!('$-"#"#0!'967%3''+,!.%96-#"'+!$&-$!$-A'!-.$"%#!-('!9%('!
7"A'73!$%!0-"#!-#!-/4-#$-0'!"#!'967%3''!('$'#$"%#=!C&'!7'-/'(+!-('!)'$$'(!-$!'#0-0"#0!

Building a sustainable
Ford Motor Company:
An interview with
Bill Ford
Global forces shaping
the future of business
and society

'967%3''+!%#!$&"+!"++*'!G-#/!-$!A''6"#0!'967%3''+!-$!-77!7'4'7+!9%('!"#8%(9'/K,!+*00'+$"#0!!
$&-$!"$@+!6%++")7'!$%!9-A'!$&'!9%+$!%8!$&"+!%66%($*#"$3!"#!+*+$-"#-)"7"$3=
2XUH[SHULHQFHLQZRUNLQJZLWKFRPSDQLHVLQGLIIHUHQWLQGXVWULHVRQVXVWDLQDELOLW\DOLJQVZLWK
WKHVXUYH\QGLQJVWKDWGLIIHUHQWLQGXVWULHVXVHGLIIHUHQWOHYHUVJURZWKUHWXUQRQFDSLWDO
DQGULVNPDQDJHPHQWWRFUHDWHVLJQLFDQWYDOXH7KHUHVQRVLQJOHZD\WRFUHDWHYDOXHIURP
+*+$-"#-)"7"$3,!+%!A#%<"#0!<&'('!$&'!)"00'+$!%66%($*#"$"'+!8%(!4-7*'!.('-$"%#!-('!"#!!
-#!"#/*+$(3:-#/!<&'('!$&'!("+A+!-#/!)-(("'(+!7"':.-#!+'(4'!-+!-!0*"/'!8%(!/'4'7%6"#0!

Pricing the planet

+*+$-"#-)"7"$3!+$(-$'0"'+=
&RXSOHGZLWKWKHVKLIWLQUHDVRQVIRUSXUVXLQJVXVWDLQDELOLW\IURPUHSXWDWLRQPDQDJHPHQWWR
%6'(-$"%#-7!"96(%4'9'#$+!-#/!#'<!0(%<$&!%66%($*#"$"'+,!$&'!%4'(-77!&"0&!/'0(''!%8!
"#$'0(-$"%#!+''9+!$%!"#/".-$'!$&-$!.%96-#"'+!&-4'!)'.%9'!9%('!)*+"#'++7"A'!-)%*$!$&'"(!
+*+$-"#-)"7"$3!-0'#/-=!1%+$!.%96-#"'+,!&%<'4'(,!-('!+$"77!+$(*007"#0!$%!8-.$%(!+*+$-"#B!
-)"7"$3!"#$%!$&'!V&-(/W!-('-+!%8!$&'"(!)*+"#'++,!+*.&!-+!+*6673!.&-"#!-#/!$&'!)*/0'$,!+%!$&'('!"+!
+$"77!-!7%$!%8!6%$'#$"-7!$%!/("4'!8*($&'(!"#$'0(-$"%#!-#/!"#.('-+'/!4-7*'!.('-$"%#=!_&'('!!
7'-/'(+!-#/!-77!%$&'(+!/"4'(0'!9%+$!"+!-(%*#/!2E>+,!%(0-#"F-$"%#-7!+$(*.$*(',!-#/!7'-/'(+&"6!
'#0-0'9'#$R!$&'+'!9-3!)'!&"0&B6%$'#$"-7!-('-+!8%(!.%96-#"'+!+$("4"#0!$%!)'.%9'!
+*+$-"#-)"7"$3!7'-/'(+=

Sheila Bonini,!.%#$(")*$%(!$%!$&'!/'4'7%69'#$!-#/!-#-73+"+!%8!$&"+!+*(4'3,!"+!-!.%#+*7$-#$!"#!

0F.LQVH\V6LOLFRQ9DOOH\RIFH

Continue on to the next page for a related opinion piece, Putting it

into practice, about why companies should act now on the sustainability
opportunities that are crucial to their business.

5?

Putting it into practice

:"'()*+$,%,6".17%+*/$-#)/$%$*3+#"*'$*/)14%,"&+)14%)*7%-"3$#*)*&$%+,,.$,%+*/"%/6$+#%0.,+*$,,%
'"7$1;)*7%)&/%"*%/6$'9
I*+$-"#-)"7"$3!&-+!7%#0!)''#!%#!$&'!-0'#/-!-$!9-#3!.%96-#"'+,!)*$!8%(!/'.-/'+!$&'"(!
'#4"(%#9'#$-7,!+%."-7,!-#/!0%4'(#-#.'!-.$"4"$"'+!&-4'!)''#!/"+.%##'.$'/!8(%9!.%('!+$(-$'03=!
1%+$!+$"77!$-A'!-!8(-09'#$'/,!('-.$"4'!-66(%-.&:7-*#.&"#0!-/!&%.!"#"$"-$"4'+!$%!'#&-#.'!$&'"(!
V0(''#W!.('/'#$"-7+,!$%!.%9673!<"$&!('0*7-$"%#+,!%(!$%!/'-7!<"$&!'9'(0'#."'+:(-$&'(!$&-#!
$('-$"#0!+*+$-"#-)"7"$3!-+!-#!"++*'!<"$&!-!/"('.$!"96-.$!%#!)*+"#'++!('+*7$+=5!
C&-$@+!#%!7%#0'(!'#%*0&=!1-$'("-7!("+A+!#%$!%#73!$%!-!.%96-#3@+!('6*$-$"%#!)*$!-7+%!$%!$&'!
)%$$%9!7"#'!.%9'!8(%9!9-#3,!%8$'#!*#6('/".$-)7'!/"('.$"%#+!"#!-#!'(-!%8!.%#+$(-"#'/!
('+%*(.'+!-#/!$"0&$'(!('0*7-$%(3!('Q*"('9'#$+,!-+!<'77!-+!0(%<"#0!/'9-#/!8%(!+*+$-"#-)7'!
6(%/*.$+!-#/!+'(4".'+,!0%%/!.%(6%(-$'!0%4'(#-#.',!-#/!+%."-7!('+6%#+")"7"$3=!_&'('!+*.&!
.&-77'#0'+!-("+',!%66%($*#"$"'+!-7+%!7"'\!1.2"#+'3!'+$"9-$'+!$&-$!$&'!.7'-#B$'.&!6(%/*.$!
PDUNHWIRUH[DPSOHZLOOUHDFKWULOOLRQE\XSIURPELOOLRQLQ7KH:RUOG
J'+%*(.'+!>#+$"$*$'!'+$"9-$'+!$&-$!6'%67'!-$!$&'!)%$$%9!%8!$&'!"#.%9'!63(-9"/,!<&%!'-(#!7'++!
WKDQD\HDUHPERG\DJOREDOPDUNHWRIPRUHWKDQWULOOLRQ?
2XUUHVHDUFKQGVWKDWDKDQGIXORIFRPSDQLHVDUHFDSWXULQJVLJQLFDQWYDOXHE\
+3+$'9-$".-773!6*(+*"#0!$&'!%66%($*#"$"'+!+*+$-"#-)"7"$3!%88'(+=!_'!)'7"'4'!$&'!$('#/!"+!.7'-(\!
9%('!)*+"#'++'+!<"77!&-4'!$%!$-A'!-!7%#0B$'(9!+$(-$'0".!4"'<!%8!+*+$-"#-)"7"$3!-#/!)*"7/!"$!"#$%!
$&'!A'3!4-7*'!.('-$"%#!7'4'(+!$&-$!/("4'!('$*(#+!%#!.-6"$-7,!0(%<$&,!-#/!("+A!9-#-0'9'#$!
GX;&")"$!5K,!-+!<'77!-+!$&'!A'3!%(0-#"F-$"%#-7!'7'9'#$+!$&-$!+*66%($!$&'!7'4'(+=!X-.&!.%96-#3@+!
6-$&!$%!.-6$*("#0!4-7*'!8(%9!+*+$-"#-)"7"$3!<"77!)'!*#"Q*',!)*$!$&'+'!*#/'(73"#0!'7'9'#$+!.-#!
+'(4'!-+!-!*#"4'(+-7!6%"#$!8(%9!<&".&!$%!0'$!+$-($'/=

5!!

$FFRUGLQJWR0F.LQVH\V
VXUYH\RQVXVWDLQDELOLW\MXVW!
OT!6'(.'#$!%8!';'.*$"4'+!+-3!$&'"(!
.%96-#"'+!&-4'!-!+$(-$'0".!
DSSURDFKWRLWZLWKDGHQHGVHW
%8!"#"$"-$"4'+=
?!!
$OOHQ/+DPPRQG:LOOLDP-
.UDPHU5REHUW6.DW]-XOLD7
C(-#,!-#/!H%*($7-#/!_-7A'(,!<6$%
=$>/%?%@+11+"*A%!)#B$/%C+D$%)*7%
@.,+*$,,%C/#)/$-2%)/%/6$%@),$%"8%
/6$%E2#)'+7,!_%(7/!J'+%*(.'+!
,QVWLWXWH0DUFK
O!!
I'4'#$3B'"0&$!6'(.'#$!%8!
('+6%#/'#$+!-$!7'-/"#0!
.%96-#"'+!+-3!$&'3!&-4'!9%+$73!
%(!.%967'$'73!"#$'0(-$'/!
+*+$-"#-)"7"$3!"#$%!$&'!
9-#-0'9'#$!%8!$&'"(!+*6673!
.&-"#+R!O]!6'(.'#$!%8!-77!%$&'(!
('+6%#/'#$+!+-3!$&'"(!.%96-#"'+!
&-4'!/%#'!+%=

Approaching sustainability!

2XUVXUYH\SURGXFHGLQVLJKWVLQWRWKHVSHFLFSUDFWLFHVRIDVPDOOJURXSRIFRPSDQLHVWKDW
WUHDWVXVWDLQDELOLW\KROLVWLFDOO\$WDOORIWKHPLWLVDWRSWLHULWHPRQWKH&(2VDJHQGDD
8%(9-7!6(%0(-9!"+!"#!67-.'!$%!-//('++!"$,!-#/!';'.*$"4'+!'9)'/!"$!"#!)*+"#'++!6(-.$".'+!-#/!
9-#-0'!"$!-.$"4'73=!1*.&!&"0&'(!+&-('+!%8!('+6%#/'#$+!-$!$&'+'!7'-/"#0!.%96-#"'+!('6%($!$&-$!
$&'3!-('!6*(+*"#0!'-.&!A"#/!%8!4-7*'B.('-$"#0!-.$"4"$3!('7-$'/!$%!+*+$-"#-)"7"$3!-#/!"#$'0(-$"#0!
$&'!%(0-#"F-$"%#-7!'7'9'#$+:9"++"%#!-#/!4-7*'+,!+3+$'9+!-#/!6(%.'++'+,!"#$'(#-7!-#/!';$'(#-7!
7'-/'(+&"6,!-#/!%(0-#"F-$"%#-7!/'+"0#:$&-$!+*66%($!+*.&!"#"$"-$"4'+=
C&'!7'-/"#0!.%96-#"'+!8(%9!%*(!+*(4'3!.-#!$&*+!+'(4'!-+!-!9%/'7!8%(!%$&'(+=!1-A'!#%!
9"+$-A',!&%<'4'(\!.-6$*("#0!+*+$-"#-)"7"$3@+!8*77!4-7*'!6%$'#$"-7!"+!.%967".-$'/=!>#!'++'#.',!-!
FRPSDQ\PXVWUVWGHWHUPLQHLWVEDVHOLQHSHUIRUPDQFHRQVXVWDLQDELOLW\LVVXHVDQGWKHQ
/'."/'!%#!-!6%($8%7"%!%8!"#"$"-$"4'+!$%!.('-$'!4-7*'!"#!$&%+'!-('-+=!`*$!<&"7'!9-#3!.%96-#"'+!
*#/'(+$-#/!$&'!"96-.$!%8!$&'"(!%<#!%6'(-$"%#+!%#!"++*'+!8(%9!.-()%#!'9"++"%#+!$%!&*9-#!
("0&$+,!$&'3!%8$'#!&-4'!7"$$7'!%(!#%!*#/'(+$-#/"#0!%8!$&'!"96-.$!%8!$&'!'#$"('!4-7*'!.&-"#=O!!

5O

1%('%4'(,!9%+$!.%96-#"'+!/%!#%$!-.$"4'73!+''A!%66%($*#"$"'+!$%!"#4'+$!"#!-#3!-('-!%8!
+*+$-"#-)"7"$3P!-#/!$&'('8%('!9"++!6%$'#$"-7!0(%<$&!%66%($*#"$"'+=

P!!

$FFRUGLQJWR0F.LQVH\V
+*(4'3!%#!+*+$-"#-)"7"$3,!!
^^!6'(.'#$!%8!('+6%#/'#$+!-$!
7'-/"#0!.%96-#"'+!+$(%#073!-0(''!
$&-$!$&'3!-.$"4'73!+''A!
%66%($*#"$"'+!$%!"#4'+$!"#!
+*+$-"#-)"7"$3,!4'(+*+!?O!6'(.'#$!
%8!-77!%$&'(!('+6%#/'#$+=!N%(!
9%(',!+''!Va%<!.%96-#"'+!
9-#-0'!+*+$-"#-)"7"$3\!1.2"#+'3!
L7%)-7!I*(4'3!('+*7$+,W!
9.A"#+'3Q*-($'(73=.%9,!!
0DUFK
S!!
C&"+!0(%*6!"#.7*/'+!+*(4'3!
('+6%#/'#$+!8(%9!$&'!.%-7,!9'$-7,!
-#/!%$&'(!9"#"#0!"#/*+$("'+R!%"7!
-#/!0-+!';$(-.$"%#R!6'$(%7'*9!
-#/!#-$*(-7B0-+!/"+$(")*$"%#R!-#/!
SHWUROHXPUHQLQJ

M66%($*#"$"'+!$%!.('-$'!%(!6('+'(4'!$&'!9%+$!4-7*'!4-(3!0('-$73!-9%#0!"#/*+$("'+!GX;&")"$!?K=!
$QH[WUDFWLYHVHUYLFHVFRPSDQ\SIRUH[DPSOHFRXOGVLJQLFDQWO\UHGXFHLWVFRVWVWKURXJK
EHWWHUPDQDJHPHQWRIHQHUJ\DQGZDWHU$UHWDLOFRPSDQ\FRXOGUHGXFHLWVUHVRXUFHLQWHQVLW\
-#/!.%+$+!)3!('4-96"#0!"$+!+*6673!.&-"#,!+"#.'!$&'!)"00'+$!'#4"(%#9'#$-7!"96-.$!<"$&"#!$&-$!
+'.$%(!.-#!%8$'#!)'!$(-.'/!$%!(-<!9-$'("-7+,!+*.&!-+!$&'!-0(".*7$*(-7!6(%/*.$+!*+'/!"#!8%%/!%(!
DSSDUHO$QHQHUJ\FRPSDQ\PD\KDYHPRUHRSSRUWXQLWLHVWKDQFRPSDQLHVLQRWKHULQGXVWULHV
$%!.('-$'!4-7*'!$&(%*0&!#'<!6(%/*.$+:8%(!';-967',!)3!.%99'(."-7"F"#0!"#4'+$9'#$+!"#!+9-($!
0("/+=
Creating value!

>#$'0(-$"#0!+*+$-"#-)"7"$3!"#$%!+$(-$'0".!"#"$"-$"4'+!"+!'+6'."-773!"96%($-#$!)'.-*+'!$&'+'!"++*'+!

Survey
2011
67-3!%*$!%4'(!$&'!7%#0!$'(9=!>$@+!'-+"'(!8%(!.%96-#"'+!<&'('!$&'3!-('!.%('!.%#.'(#+!$%!
Sustainability
*#/'(+$-#/!$('#/+!-#/!9-A'!+$(-$'0".!)'$+!"#!-/4-#.'!%8!.%#+*9'(!6('8'('#.'+,!+$-A'&%7/'(!
Exhibit 7 of 8
Exhibit title: Capturing value in three key areas
Exhibit 1

Capturing value in three key areas

Innovation and
new products
Composition
of business
portfolio

Reaching new
customers and
markets
Growth

Green
sales and
marketing

Regulatory
management
Risk
management
Reputation
management

Operational-risk
management

Returns
on capital
Sustainable
value chains
Sustainable
operations (eg,
reducing
emissions, energy,
waste, water)

5P

Survey 2011
Sustainability
Exhibit 8 of 8
Exhibit title: Industry-specific opportunities
Exhibit 2

Industry-specific opportunities
Potential value from sustainability activities
over the next 5 years, by industry
Energy

Significant value

Extractive
industries1

Modest value

High tech,
telecom

Little to no value

Retail

Growth
Composition of business portfolio
Innovation and new products
New markets
Returns on capital
Green sales and marketing
Sustainable value chains
Sustainable operations
Risk management
Operational-risk management
Reputation management
Regulatory management

!"#$%&'()*"+)*,-$()$.*"/+-0".1)"%-2&3"0).2&3"2$("-.1)+"04$4$5"4$('*.+4)*6"-4&"2$("52*")7.+2%.4-$6",).+-&)'0"2$("

QDWXUDOJDVGLVWULEXWLRQDQGSHWUROHXPUHQLQJ
" 8-'+%)9":;!!"<%=4$*)>"*'*.24$2?4&4.>"*'+@)>6"<%=4$*)>"2$2&>*4*

SUHVVXUHRUUHJXODWLRQ*(IRUH[DPSOHSODFHGHDUO\EHWVRQFOLPDWHFKDQJHLQEHIRUH
$O*RUHDQG+XUULFDQH.DWULQDPDGHWKLVDWRSRIPLQGLVVXHWKHFRPSDQ\UHVROYHGWRGRXEOH
"$+!('+'-(.&!"#4'+$9'#$+!-#/!+-7'+!"#!.7'-#!$'.&#%7%03=!>$!-7+%!6(%9"+'/!$%!V0(''#W!"$+!%<#!
RSHUDWLRQV$VDUHVXOW*(V(FRPDJLQDWLRQGLYLVLRQKDVEHHQDWUHPHQGRXVJURZWKHQJLQH
ZLWKSURGXFWVDOHVUHDFKLQJELOOLRQLQ2WKHUFRPSDQLHVWRRKDYHIRXQGLQVWUXFWLYH
<-3+!$%!)*"7/!+*+$-"#-)"7"$3!"#$%!/("4'(+!%8!4-7*'=
Returns on capital!

0RVWFRPSDQLHVFUHDWLQJYDOXHWKURXJKVXVWDLQDELOLW\ORRNUVWWRLPSURYLQJUHWXUQVRQ
.-6"$-7,!<&".&!%8$'#!9'-#+!('/*."#0!%6'(-$"#0!.%+$+!$&(%*0&!"96(%4'/!#-$*(-7B('+%*(.'!
9-#-0'9'#$!G+*.&!-+!'#'(03!*+'!-#/!<-+$'K=!Z%<!H&'9".-7,!8%(!';-967',!('6%($'/!$&-$!"$!
LQYHVWHGOHVVWKDQELOOLRQVLQFHWRLPSURYHLWVUHVRXUFHHIFLHQF\7RGDWHWKHFRPSDQ\

5S

&-+!+-4'/!9%('!$&-#!bU=^!)"77"%#!8(%9!('/*.'/!'#'(03!.%#+*96$"%#!-#/!<-$'(!<-+$'!"#!"$+!
9-#*8-.$*("#0!6(%.'++'+,!'4'#!-+!"$!.%#$"#*'+!$%!/'4'7%6!"##%4-$"%#+=!>#!5UUT,!$&(%*0&!-!
+'6-(-$'!"#"$"-$"4',!Z%<!-7+%!.('-$'/!-!+'$!%8!0%-7+!8%(!'#4"(%#9'#$-7,!&'-7$&,!-#/!+-8'$3!"++*'+,!
-#/!"$!&-+!'#+*('/!$&'"(!"#$'0(-$"%#!"#$%!$&'!.%96-#3@+!6(%.'++'+!)3!$(-.A"#0!6(%0('++!<"$&!
FOHDUPHWULFV$VDUHVXOW'RZZLWKDSHUFHQWUHGXFWLRQLQDEVROXWHJUHHQKRXVHJDV
'9"++"%#+,!&-+!0%#'!<'77!)'3%#/!23%$%!E(%$%.%7T!$-(0'$+=]
H%96-#"'+!-('!-7+%!/("4"#0!/%<#!.%+$+!)3!+3+$'9-$".-773!9-#-0"#0!$&'"(!4-7*'!.&-"#+=!_-7B
0DUWIRUH[DPSOHH[SHFWVWRJHQHUDWHELOOLRQLQJOREDOVXSSO\FKDLQVDYLQJVE\
$&(%*0&!-!6-.A-0"#0!V+.%('.-(/W!$&-$!.%*7/!('/*.'!6-.A-0"#0!-.(%++!$&'!.%96-#3@+!07%)-7!
VXSSO\FKDLQE\SHUFHQWIURPOHYHOV0RUHRYHUFRPSDQLHVFDQDGGYDOXHE\LPSURYLQJ
'967%3''!('$'#$"%#!%(!9%$"4-$"%#!$&(%*0&!+*+$-"#-)"7"$3!-.$"4"$"'+!%(!)3!(-"+"#0!6(".'+!%(!
-.&"'4"#0!&"0&'(!9-(A'$!+&-('!<"$&!#'<!%(!';"+$"#0!+*+$-"#-)7'!6(%/*.$+=!_&%7'!N%%/+!1-(A'$,!
IRULQVWDQFHUDLVHGLWVVDOHVE\SHUFHQWD\HDUIURPWRLQDQHFRQRP\
';6'("'#."#0!+"#07'B/"0"$!0(%<$&=
Growth!

H%96-#"'+!$&-$!("0%(%*+73!6*(+*'!+*+$-"#-)"7"$3!-7+%!('0*7-(73!('4"+"$!$&'"(!)*+"#'++!6%($8%7"%+!
$%!/'$'(9"#'!$&'!6%$'#$"-7!"96-.$!%8!$('#/+!G+*.&!-+!';"+$"#0!%(!6%$'#$"-7!.7"9-$'!.&-#0'!
('0*7-$"%#+K!$&-$!.%*7/!7'-/!$%!#'<!0(%<$&!%66%($*#"$"'+=!_-+$'!1-#-0'9'#$,!8%(!"#+$-#.',!
('"#4'#$'/!"$+'78!-+!-!6(%4"/'(!%8!"#$'0(-$'/!'#4"(%#9'#$-7!%88'("#0+!)3!-//"#0!<-+$'!('/*.$"%#!
-#/!<-+$'B$%B'#'(03!+%7*$"%#+!$%!"$+!+'(4".'+=!H%96-#"'+!-7+%!+.(''#!("0%(%*+73!8%(!*#9'$!
#''/+!.('-$'/!)3!+*+$-"#-)"7"$3!$('#/+!"#!7"#'!<"$&!$&'"(!+$(-$'0"'+!-#/!"/'#$"83!6%$'#$"-7!
FXVWRPHUVHJPHQWV$UFHORU0LWWDOIRUH[DPSOHHPEHGGHGVXVWDLQDELOLW\LQLWVRUJDQL]DWLRQDO
GHVLJQWKURXJKDGHSDUWPHQWIRUVFLHQWLFDQDO\VHVRIWKHOLIHF\FOHVRIVWHHOSURGXFWV7KH
/'6-($9'#$!.('-$'+!%88'("#0+!$&-$!9"#"9"F'!+$''7@+!#'0-$"4'!'#4"(%#9'#$-7!"96-.$+:%#'!('+*7$!
%8!$&'!.%96-#3@+!"#4'+$9'#$!"#!"##%4-$"4'!+%7*$"%#+=!L7-;%I9"$&27"#'!"+!7%%A"#0!#%$!%#73!$%!
6&"7-#$&(%63!)*$!-7+%!$%!"$+!)*+"#'++!9%/'7!"#!-//('++"#0!/"+'-+'+!"#!7'++B/'4'7%6'/!9-(A'$+=!
%\DGRSWLQJDUDQJHRIH[LEOHSULFLQJPRGHOVIRUSDWHQWHGPHGLFLQHVDQGYDFFLQHVVRWKDW
WKH\UHDIIRUGDEOHIRUFXVWRPHUVLQWKRVHFRXQWULHV\HWVWLOOSURWDEOHWKHFRPSDQ\KRSHVWR
JDUQHUDVLJQLFDQWVKDUHRIVDOHVLQSRWHQWLDOQHZPDUNHWV
Risk management!

`'$$'(!9-#-0'9'#$!%8!("+A+!$&-$!-("+'!8(%9!+*+$-"#-)"7"$3!"++*'+!)'0"#+!<"$&!/'$'.$"#0!A'3!
T!!

F2"/"%(#"/"&"1%/"%/6$%G*+/$7%
=)/+"*,%H#)'$5"#B%:"*3$*/+"*%
"*%:1+')/$%:6)*-$,!c#"$'/!
d-$"%#+,!5UU^=!
]!!
!+7I("+*/%J$("#/A%KLMN%
C.,/)+*)0+1+/2%O")1,%G(7)/$4%%
?P%KLML,!Z%<!H&'9".-7,!
)HEUXDU\

("+A+!%8!%6'(-$"%#-7!/"+(*6$"%#+!8(%9!.7"9-$'!.&-#0',!('+%*(.'!+.-(."$3,!%(!.%99*#"$3!"++*'+!
G+*.&!-+!)%3.%$$+!%(!/'7-3+!"#!0'$$"#0!6'(9"$+!8%(!9-#*8-.$*("#0K=!N-.'/!<"$&!6%$'#$"-7!+*6673!
FRQVWUDLQWV1HVWOpIRUH[DPSOHODXQFKHGDSODQLQWKDWFRRUGLQDWHVDFWLYLWLHVWRSURPRWH
+*+$-"#-)7'!.%.%-\!6(%/*."#0!5?!9"77"%#!+$(%#0'(!-#/!9%('!6(%/*.$"4'!67-#$+!%4'(!$&'!#';$!$'#!
\HDUVWHDFKLQJORFDOIDUPHUVHIFLHQWDQGVXVWDLQDEOHPHWKRGVSXUFKDVLQJEHDQVIURPIDUPV
$&-$!*+'!+*+$-"#-)7'!6(-.$".'+,!-#/!<%(A"#0!<"$&!%(0-#"F-$"%#+!$%!&'76!$-.A7'!"++*'+!7"A'!.&"7/!

5T

Related thinking
The business

of sustainability:
McKinsey Global
Survey results
The business

7-)%(!-#/!6%%(!-..'++!$%!&'-7$&!.-('!-#/!'/*.-$"%#=!C&'!9"#"#0!0"-#$!`aE!`"77"$%#!9-#-0'/!"$+!
';6%+*('!$%!'9'(0"#0!('0*7-$"%#+!)3!+3+$'9-$".-773!('/*."#0!"$+!'9"++"%#+=
C&'!.&%".'!8%(!.%96-#"'+!$%/-3!"+!#%$!"8,!)*$!6"5,!$&'3!+&%*7/!9-#-0'!$&'"(!+*+$-"#-)"7"$3!
-.$"4"$"'+=!H%96-#"'+!.-#!.&%%+'!$%!+''!$&"+!-0'#/-!-+!-!#'.'++-(3!'4"7:-!9-$$'(!%8!.%967"-#.'!
%(!-!("+A!$%!)'!9-#-0'/!<&"7'!$&'3!0'$!%#!<"$&!$&'!)*+"#'++!%8!)*+"#'++:%(!$&'3!.-#!$&"#A!%8!"$!
-+!-!#%4'7!<-3!$%!%6'#!*6!#'<!)*+"#'++!%66%($*#"$"'+!<&"7'!.('-$"#0!4-7*'!8%(!+%."'$3=

opportunity in water
conservation
Sheila BoniniLVDFRQVXOWDQWLQ0F.LQVH\V6LOLFRQ9DOOH\RIFHDQGStephan Grner!"+!-!

GLUHFWRULQWKH6\GQH\RIFH&RS\ULJKW0F.LQVH\ &RPSDQ\$OOULJKWVUHVHUYHG