Overview
A family-owned winery reduced costs, improved performance, and engaged stakeholders by developing a comprehensive double materiality and sustainability strategy with Sensiba.
Services Provided
- Double Materiality Assessment
- Fractional CSO Consulting
Challenge
Over the years, a family-owned winery implemented a range of sustainable, organic, and biodynamic practices at their vineyards and operations, but wanted to expand beyond those initiatives to establish an integrated ESG and sustainability strategy and roadmap.
Executive leadership was looking to broaden the company’s sustainability capacity with the goal of enhancing performance and mitigating risk, improving disclosure and engagement with key stakeholders, and driving a measurable return on investment. The client identified Sensiba to deploy Fractional Chief Sustainability Officer (CSO) services in collaboration with key internal personnel to assess current risks, opportunities, and performance, as well as to shape its strategy moving forward.
With a focus on building its sustainability capacity, the company identified over $350,000 in operational cost savings that could potentially be implemented in Year 1.
Solution
Collaborating with Sensiba, the company began with an investor-grade organizational Double Materiality Assessment that highlighted its need for a cohesive sustainability strategy backed with formal leadership, budget, and communication plans.
The assessment identified low-cost, high-impact steps the company could take in the first 12-24 months to build momentum toward mitigating specific ESG risks while creating a broader implementation strategy.
Key initiatives included:
Identifying material nonfinancial sustainability KPIs and developing an ESG tracking and reporting dashboard.
Creating an internal sustainability manager role and a cross-functional sustainability team.
Developing an annual Sustainability Management Plan to guide tactical implementation and mitigate risk.
Establishing a formal Code of Conduct for Tier 1 suppliers.
Developing a three-year sustainability plan to align with the company’s broader strategic plan and identify key activities, accountability structures, processes, and policies, as well as the budget required for implementation and resulting cost savings.
Creating a Profit & Loss tracker to measure the financial impact of the company’ sustainability initiatives.
Result
With a focus on building its sustainability capacity, the company identified over $350,000 in operational cost savings that could potentially be implemented in Year 1. Early initiatives included solid waste diversion improvements, paper product and glass bottle packaging transitions, electricity rate cost savings, and better tracking for solar expansions at two wineries.
Additional early wins included the creation of social impact programs such as employee wellness and mental health workshops, and an onsite massage clinic. A Communications Impact Statement is also in the works to articulate the company’s sustainability commitment in a clear and transparent way for the company’s marketing and sales teams.
To increase employee engagement, the expanded its efforts to address the social aspects of its ESG programs with initiatives such as wellness workshops, an employee garden, and purchasing bicycles for employee use.
And by identifying key areas for improvement and tactical steps each functional unit could accomplish, the company is helping leaders across the organization integrate sustainability into its operational plans and accountability structures.
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