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TRANSLATING ESG DATA INTO TARGETS & KPIs – CANNED WINE CO.
December, 2024
TRANSLATING ESG DATA INTO TARGETS & KPIs
PILLARS: ENVIRONMENT
MATERIAL DRIVERS: CLIMATE & SDGs
THE CHALLENGE
Understanding your current impact as accurately as possible is key to developing specific, relevant and achievable key performance indicators and targets. Target-setting can be overwhelming when there is lack of knowledge about how to translate ESG data into quantifiable targets to measure real change. A further layer of complication is added when communicating your brand performance – there is a risk of greenwashing which can lead to mistrust amongst stakeholders. Canned Wine Co. needed to understand how to interpret their ESG data and required guidance on translating this into measurable targets on business performance.
CONSIDERATIONS
Interpreting ESG data can be time consuming and requires sustainability expertise. Targets you create must be aligned to the business mission and values, whilst being clearly measurable – and all stakeholders must have a clear understanding of their role in achieving the goals.
APPROACH & ACTIONS
Positive Luxury’s ESG+ methodology enabled Canned Wine Co. to understand what was most material to their business and establish baseline measurements:
Working with Positive Luxury, Canned Wine Co. updated their supplier assessment questionnaire, utilised for supply chain transparency, enabling more efficient tracking of environmental management information
We advised on the creation of internal training plans for Diversity, Equity and Inclusion as well as unconscious bias
Positive Luxury led a target-setting training session for Canned Wine Co.’s leadership and sustainability personnel
We supported in identifying, quantifying and aligning goals to UN SDGs 5,8,12,13 and 15.
Delivered tailored advice and guidelines to establish clear KPIs for sustainable procurement, carbon emissions, packaging, stakeholder engagement and community involvement
RESULT
Implementing the supplier assessment questionnaire has allowed Canned Wine Co. to collate ESG information from key suppliers and partners and incorporate this into their own annual target planning e.g waste measurement, hazardous material use and use of renewable energy. Targets and KPIs will in turn be used to inform the sustainability strategy, focusing on the areas of material risk to its business. Progress will be communicated in their sustainability reporting.
