As the global
business community prepares for the World Economic Forum in Davos,
a roundtable of 15 top ‘green’ Canadian companies has
 released its own href=”http://www.nbs.net/about/knowledge-priorities/”
target=”_blank”>report outlining the
challenges facing the Canadian business community in
2011.

The
href=”http://www.nbs.net/wp-content/uploads/Sustainability-Priorities-2011.pdf” target=”_blank”>
report is published by the
academic research group Network for Business
Sustainability.

   

“This year,
there was universal concern about the risks and rewards of taking a
stand as a ‘green pioneer’,” said Tima Bansal, professor of
management at the Richard Ivey School of Business and Executive
Director of NBS.

 

“In trying
to operate more responsibly, companies in forestry and energy face
some of the same challenges as companies in telecommunications and
consumer packaged goods.”

href=”http://www.nbs.net/about/wp-content/uploads/Sustainability-Priorities-2011.pdf” target=”_blank”>
10 Questions Define the Sustainability Priorities in
2011

1. What are the key   environmental, social
   and governance metrics for business
   sustainability? 



2. Which outcome-based government policies are
   most effective for addressing sustainability
   issues? 



3. How do individuals make decisions regarding
   social and environmental issues? 



4. How can businesses attract, retain, and incent
   employees to drive sustainability?



5. How do we incorporate key sustainability parameters into a
   financial business
   case? 



6. How do we determine the materiality of
   sustainability risks and opportunities?



7. What organizational attributes influence the
   credibility of sustainability claims?



8. What is the aboriginal perspective on business
   sustainability, and what are the best approaches to constructive
   engagement?



9. What are the best practices for sustainable
   sourcing?



10. How can firms navigate the risks and opportunities of
    sustainability leadership? 

Bansal
added that leading your industry in sustainability typically means
you attract new customers and foster loyalty with employees and the
community. But leadership also presents risks, such as being
overtaken by a competitor or over-investing in technologies that
fail to yield the expected rewards.

 

Andrew
Wilczynski, TELUS’ manager of corporate social responsibility and
one of the roundtable participants, said being viewed by customers
as leading the way in sustainability creates tremendous benefits
but also raises their expectations.

 

“When you’re a leader, you’re subject to more
scrutiny than your peers,” said Wilczynski.

“For example, we’re committed to limiting our
paper consumption - and have reduced it by nearly 60 per cent over
the last 10 years. But because we’re well-known for taking a strong
stand on sustainability, when people see us using promotional
flyers or other print materials they question our commitment, while
they may not even notice larger and more frequent mail from our
competitors. So, by setting higher standards, we have opened
ourselves up to additional scrutiny. That’s the kind of risk you
take in pursuing sustainability.”

 

“Additionally and somewhat ironically we believe
it is important to strive to ensure that your commitment to
sustainability is itself sustainable over time and across the peaks
and valleys of the business and economic cycle,” he
added.

 

In addition
to understanding the risks and rewards of being a green pioneer,
the business leaders identified nine more challenges
to responsible business. Read the full report:
target=”_blank”>Canadian Business Sustainability Priorities
2011

 

About the Network for Business
Sustainability

The Network for Business Sustainability is a
not-for-profit organization that connects thousands of academic
researchers and business leaders worldwide - with the goal of
creating new, sustainable business models for the 21^st
century.

Representing the private, public and non-profit sectors, the
roundtable included companies well-known for their
environmentally-progressive practices and public support of
sustainability such as Unilever, Suncor, TELUS and Research In
Motion (RIM).

The roundtable meets annually to outline business barriers to
adopting environmental practices and promoting sustainability.
Academic researchers study the issues, producing resources designed
to help businesses worldwide overcome similar barriers.