– Article in partnership with Panasonic –
A recent survey conducted by Panasonic among industry professionals in Germany and the UK revealed a relatively even distribution of opinions on two key commitments: to reduce emissions from its value chain and to help avoid CO2 emissions through new technologies and activities. How? Let’s find out together.
The power of working together
Dating back to the time of Nero, there is a popular Italian expression coined by the Roman courtier Petronius in the Satyricon: “manus manum lavat.” Loosely translated, it suggests that working together is superior and more effective than working alone. In modern times, we have added the phrase “and together they wash the face” to emphasize the significance of adopting a holistic and collaborative approach to overcoming any obstacles. This concept may sound familiar, as its English counterpart is “you scratch my back, and I’ll scratch yours.”
You may be wondering why I am starting an article on corporate sustainability with a hand-washing idiom. I believe that teamwork – joining hands for a common goal – leads to results that far surpass those of individuals working alone.
The power of two hands: Panasonic’s survey of corporate sustainability measures
While reading Panasonic‘s recent survey of over a thousand business professionals in Germany and the United Kingdom, I was reminded of the power of teamwork. The survey aimed to gauge awareness of sustainability measures and corporate priorities, and I was particularly struck by the even distribution of opinions on two key areas:
- Reducing emissions across the value chain (Scope 1, 2, and 3).
- Helping to avoid CO2 emissions through existing and new technologies and businesses.
If we view each of these commitments as a single hand, it becomes clear that achieving both would lead to much greater success.
To effectively tackle this “two-handed” challenge, manufacturing companies must not only reduce emissions within their own value chains but also consider how their business purpose can contribute to avoiding emissions. In other words, they must explore ways to help others become more sustainable and reduce energy consumption during daily activities and tasks.
Transforming business operating models: the importance of sincere strategies and commitments for sustainability
While all of this sounds nice in theory, transforming the operating model of a major corporation is no small feat. However, with the right strategy, vision, and investments, it can become far more feasible. If you need further motivation, it’s worth emphasizing that, in the same study, 80% of the interviewees claimed that “environmental sustainability plays an important role in purchase decisions and the procurement process.” In other words, there is a growing trend toward value investing.
Bearing that in mind, it’s vital to approach strategies with sincerity rather than creating a façade, playing to a trend, or mere optics. Alternatively, with the right commitment, a strong plan, and transparent reporting, you can evaluate outcomes and demonstrate successes — ones that, ideally, pave the path towards a brighter future for generations to come.
As a case in point, Panasonic’s commitment to becoming more sustainable and enabling others — above all its customers — to move towards clean energy and avoid emissions is a strong example. Their “two-handed” approach was also evident in the analysis I conducted on the company’s 2022 survey and their plan to contribute to the decarbonization of society. See the infographic below:
While Panasonic’s left hand reduces the emissions associated with their business throughout their entire value chain, the right-hand focus on avoiding emissions of society through deploying an expansion of existing climate-friendly technology available and research and development of new clean energy technologies and solutions. Combined, they are making our global village more sustainable.
Beyond voicing their commitment to sustainability, I am calling on corporations to follow up with facts and targeted strategies, investments, and milestones, and to verify the results to improve processes. With Panasonic, I’m not pretending to be an examiner but rather a spectator who interprets the results and then writes about them by drawing on my many years’ worth of experience in the field, not to mention my passion for sustainability.
With both hands, I am writing to tell you about the exciting creative-communicative journey that I am carrying out in close contact with Panasonic. Ultimately, I am heartened by the commitment of this multinational company, not only towards its shareholders (in absolute terms) but also in accounting for the needs of all stakeholders, and the future of our planet.
Joining hands for a common cause generates results far superior to any individual effort. We follow up our sustainability commitments with targeted strategies, investments, and transparency for a brighter future. Click To Tweet
- Original article previously published here