A Simple Guide to: Developing a Sustainability Strategy and Roadmap

Introduction

Managing the impacts your business has on people and the planet is good for business, but it can be hard to know where to start. Developing a strategy and roadmap of tangible actions is a practical way to implement your sustainability priorities. This guide covers why this is important for business, with key steps and supports to avail of along the way.

Why develop a Sustainability Strategy and Roadmap?

All business activities have an impact on the environment and people. This brings both risks and opportunities. While the business case varies per sector, this generally includes meeting legal compliance obligations, customer and tender requirements, cost savings, reputation, and attracting/retaining talent. For example, extreme weather from climate change impacts any business and, if not managed, brings costs. Climate induced flood risk is costing Irish business ~ €101m/annum according to the CBI Flood Protection Gap report 2024 1. The carbon tax embedded in fossil fuel electricity and fuels means significant cost savings can be made from efficiencies and shifting to renewable electricity sources. All this makes a strong case for managing the risks, but also opportunities, the green transition offers.

If you are in the value chain of a large company subject to reporting (Corporate Sustainability Reporting Directive (CSRD)), or Green Claims related legislation, they will require ESG data from you to meet their own obligations. Even though legal regimes like CSRD are expected to change in the coming months to exclude businesses with < 1000 employees from the most onerous requirements, they are still encouraging a prescriptive voluntary reporting standard with specified credible data points to be met.

How Davy Horizons can help

Davy Horizons sustainability advisors work with PLCs, large private companies, government bodies, semi-states, and not-for-profits to incorporate sustainability credibly in their business aligned to regulation, industry best practice and stakeholder demands. We provide sustainability consultancy services across all sectors and topics. Contact us at sustainability@davy.ie (opens in a new tab).