What do you do if your sustainability goals require building strong relationships with external stakeholders?

To achieve sustainability goals requiring external stakeholder relationships: 1. Identify: Determine key stakeholders relevant to sustainability objectives. 2. Engage: Initiate open dialogue and collaboration, emphasizing shared goals. 3. Communicate: Maintain transparent and regular communication channels. 4. Collaborate: Work together on joint initiatives and projects. 5. Listen: Actively solicit and integrate feedback and perspectives. 6. Adapt: Flexibly adjust strategies based on stakeholder input and changing circumstances. 7. Build Trust: Demonstrate reliability, integrity, and commitment to mutual benefit. 8. Evaluate: Assess relationship effectiveness and adjust approaches as needed to ensure alignment with sustainability goals.

IF YOU THINK YOU HAVE IDENTIFIED AND KNOW ALL YOUR STAKEHOLDERS, THINK AGAIN. You never stop identifying stakeholders. It's a continuous process. This is exactly annual double materiality assessments are so important. DMA helps you gain an understanding of your stakeholders and how they impact your business sustainability-wise. This is even more important when you consider the hidden stakeholders that are not immediately obvious. Future generations, certain supply chain actors such as sub-contractors, advocacy groups, indirect local communities, indigenous groups, competitors. It's not just about investors, regulators and consumers.

Communication methods should be tailored to each stakeholder group to ensure effective engagement and understanding. Using a universal technique is a recipe for disaster and will create comprehension problems. For consumers, platforms like social media, interactive websites, and customer feedback forms can facilitate direct interaction and provide easily accessible information about sustainability initiatives. Conversely, engaging with indigenous communities may require more culturally sensitive approaches, such as face-to-face meetings, community gatherings, and involvement of trusted community leaders or elders. Be smart, flexible and dynamic.

Maintaining long-term relationships with external stakeholders is pivotal for ongoing sustainability efforts. Even after specific collaborative projects conclude, continue to engage these stakeholders by keeping them informed about new initiatives and opportunities for involvement. Regularly update them on your progress and plans, showing appreciation for their past contributions. As your sustainability goals evolve, explore new ways to collaborate, ensuring that the relationship grows and adapts. This ongoing engagement not only sustains but also enriches your partnership, fostering a supportive network committed to achieving shared sustainability objectives.

Ideally, you're going to have to build strong relationships with all stakeholders, whether external or internal. So, it's not a question of "what to do if your sustainability goals require building strong relationships with external stakeholders". It's more about "how to build strong relationships with all stakeholders". Sustainability is a long-term, never-ending goal and to be successful in your quest, strong relationship-building with your stakeholders is a must. Be prepared to play the long, patient game.