Meet Your CSR Goals & Retain Talent

Looking for a unique way to increase employee engagement, talent retention and meet your social and environmental goals as a company?

Discover how to achieve all the above with insight from Alba Forns, COO & Co-Founder of Climatize.

Employees are hungry for sustainability

Employees today want to work for companies that have sustainable goals and are committed to making a positive impact on society and the environment. A number of studies have shown that employees, particularly millennials and Generation Z, are more likely to be motivated and engaged when they feel that their work is aligned with their values and is making a positive impact.

How sustainable initiatives will benefit your company

Prioritizing sustainability goes beyond employee engagement and talent retention. Here are other ways in which implementing sustainable initiatives will benefit your organization:

Financial Performance. Companies that prioritize sustainability can benefit from cost savings, increased efficiency, and improved supply chain management. Additionally, sustainable practices can help companies to reduce their exposure to risks such as rising energy prices, supply chain disruptions and climate change.
Brand and Reputation. Sustainability initiatives can help to improve a company's brand and reputation, which can lead to increased customer loyalty, improved employee morale, and stronger relationships with investors.
Legal and Regulatory Compliance. Many countries are introducing new laws and regulations related to sustainability, such as reducing greenhouse gas emissions and protecting natural resources. Companies that are proactively working on sustainability can better align themselves with these laws and regulations and reduce the risk of penalties.
Social and Environmental Impact. Companies have the potential to make a significant positive impact on society and the environment through sustainable practices. This can include providing clean energy, reducing waste, promoting sustainable supply chains and supporting local communities.
Long-term growth. Companies that are committed to sustainability are better positioned for long-term growth as they adapt to changing societal, environmental and economic conditions.

There are a few reasons why employees may be more likely to want to work for companies with sustainable goals:

Sense of purpose. By working for a company with sustainable goals, employees can feel that they are contributing to something bigger than themselves.
Alignment with values.
Attracts like-minded individuals. Companies with sustainable goals can attract employees who share similar values and beliefs, creating a sense of community and belonging.
Long-term growth potential. Companies that are committed to sustainability are better positioned for long-term growth as they adapt to changing societal, environmental and economic conditions.
Career growth. Companies with sustainable goals often provide opportunities for employees to work on important and meaningful projects and can help with career growth and development.
Retention. Companies with sustainable goals can have a more engaged and satisfied workforce, which can lead to higher retention rates and lower turnover.

Attracting Talent. As more and more employees, especially millennials, are interested in working for companies that align with their values, companies that prioritize sustainability can attract and retain talented employees.

Stakeholder Expectations. There's a growing expectation from stakeholders including customers, investors, and regulators that companies should consider and address their impacts on the environment and society. Failure to do so can result in reputational and financial risks.

What’s Corporate Social Responsibility (CSR)?

Now that we understand the importance of sustainable initiatives, let’s take it one step further and learn how that ties with corporate social responsibility. No doubt you’ve heard that one before!

Corporate social responsibility (CSR) refers to the voluntary actions that businesses can take to operate in an economically, socially, and environmentally sustainable manner. CSR encompasses a wide range of activities, such as investing in local communities, reducing the environmental impact of operations, and promoting fair labor practices.

By choosing to implement CSR initiatives such as sustainability or an employee volunteer program, the company can improve its reputation and build positive relationships with stakeholders, such as customers, employees, and investors. Additionally, CSR can help to attract and retain talented employees, particularly among younger workers who are increasingly interested in working for companies that align with their values. Furthermore, CSR can also help to mitigate risk and reduce the likelihood of negative publicity.

There are several ways in which a company can implement CSR. A perfect example is by including sustainable initiatives, such as:

Reducing the environmental impact of its operations
Investing in the local community through philanthropic activities
Promoting diversity and inclusion in the workplace
Implementing policies to reduce emissions and pollution
Encouraging recycling and using sustainable materials
Implementing Transparency and Ethics policies to ensure fair treatment of everyone involved in the company
Connecting your employees with volunteer opportunities that align with Sustainable Development Goals (SDGs)

Overall, CSR can be an important tool for companies to help them operate in a sustainable and responsible manner. However, it's important for companies to be transparent, accountable and follow through on their commitments and to avoid greenwashing.

What’s ESG?

Sustainable initiatives and CSR goals are closely connected with ESG practices.

ESG stands for Environmental, Social, and Governance. These are three areas that investors and stakeholders use to evaluate a company's overall performance and its potential long-term risks and opportunities.

Environmental (E) - Environmental factors include a company's carbon emissions, energy efficiency, water usage, waste management, and overall impact on the environment. Companies that score well on these factors are often seen as being better positioned to cope with climate change regulations and other environmental risks.

Social (S) - Social factors include a company's treatment of its employees, suppliers, customers, and the communities in which it operates. This includes issues such as labor rights, human rights, diversity and inclusion, and community engagement. Companies that score well on social factors are often seen as being more responsible and responsive to their stakeholders.

Governance (G) - Governance factors include a company's leadership, management, and overall ethical and transparent practices. This includes issues such as board composition, executive compensation, and how the company manages and disclose risks. Companies that score well on governance factors are often seen as being more accountable and responsible to their shareholders.

Companies have started to pay more attention to ESG factors and are setting goals to improve their performance in these areas. These can include targets to reduce carbon emissions, increase energy efficiency, invest in clean energy, improve employee engagement, and promote diversity and inclusion. Also, many are also publishing sustainability reports, outlining their progress and goals towards these issues.

ESG goals are an important way for companies to signal their commitment to operating in a sustainable and responsible manner, and to demonstrate their progress towards these commitments to stakeholders.

How to get started

So far, we have covered the implementation of sustainable initiatives as an employee engagement and talent retention tool, the benefits for the organization and how sustainable initiatives fall into CSR and connect with ESG goals.

Now that you are aware of the importance of having sustainable goals, here’s how you can get started and achieve at once, all the above. Meet Climatize, a startup enabling organizations and individuals to donate and invest in profitable climate projects.

Impact Investment matching

Climatize is an example of a resource where you can select a renewable energy project you’d like to support. That project will appear to be sponsored by your organization. Your employees will have the chance to invest from as little as $5 in the renewable energy project you selected. As an organization, Climatize encourages you to match your employee’s investment.

By investing with impact, you will be able to earn returns while generating a positive social or environmental impact.

By investing in impact, you’ll:

Generate Positive Social or Environmental Impact: One of the main benefits of impact investing is that it allows individuals and organizations to align their investments with their values and make a positive impact on society and the environment.
Earn financial returns: Impact investments can also generate attractive financial returns, just like traditional investments. This can be especially true in sectors that are likely to benefit from demographic and social trends, such as sustainable infrastructure, affordable housing, and healthcare.
Diversification: Impact investments can also provide diversification benefits, as they may have low or negative correlation with traditional asset classes such as stocks and bonds.
Address Societal Challenges: Impact investing can be a way to address important societal challenges such as poverty, climate change, and access to healthcare. As Governments and traditional funding sources are not able to fully address these challenges, impact investing can be a valuable supplement.
Long-term Growth: Impact investing can help drive long-term growth in sectors that are critical for sustainable development and a healthy economy.
Attract Talent: As more and more employees, especially millennials, are interested in working for companies that align with their values, impact investing can also be a way for companies to attract and retain talented employees.