Best Practices: ESG & Sustainability Digital Strategies For CPG & Retail
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Executive Summary
As sustainability continues to grow in importance on the corporate agenda, firms are increasingly looking for guidance on how to enhance their ESG and sustainability programmes. With no one-size-fits-all sustainability strategy, firms are leveraging industry best practices and prioritizing the use of software and consultants with industry-specific experience. This report provides firms in the consumer packaged goods (CPG) and retail sectors with examples of best practices and guidance on how to address some of the unique challenges they face, such as managing complex supply chains while meeting changing consumer preferences. Additionally, service providers and software vendors can leverage this report to better understand the pressures facing firms in these sectors.
Table of contents
The unique position of CPG and retail firmsCPG and retail firms are under increased pressure to report their sustainability data and improve performance
Challenges for the CPG and retail sectors
Best practices for firms developing a sustainability digital strategy
Firms must establish internal processes to set the foundation for successful data collection and management
Collaboration with external stakeholders is crucial for effective sustainability programmes
Establishing the technical foundation for software implementation is a collaborative effort
Digital solutions can help CPG and retail firms navigate key sustainability challenges
Table of figures
Figure 1. Verdantix segmentation of the CPG and retail sectorsFigure 2. Supply chain pressures and ESG reporting requirements strongly impact the CPG and retail sectors
Figure 3. Regulations targeting CPG and retail firms
Figure 4. Priority sustainability topics identified by representative firms in materiality assessments
Figure 5. CPG and retail firms must manage sustainability throughout their supply chains
Figure 6. Examples of collaboration to improve sustainability performance
Figure 7. Examples of industry groups helping firms with sustainability initiatives
Figure 8. Progression of software adoption by CPG and retail firms
Organisations mentioned
AB InBev, Accountability Framework, Adidas, Aldi, Alibaba, Alliance for the Chesapeake Bay, Amazon, Amazon Web Services (AWS), American Beverage Association, Anheuser-Busch, Baltimore City Public Schools, BCG, Ben & Jerry's, Best Buy, Brooks, Burberry, Carrefour, Circular Action Alliance, Clorox, Coach, Coca-Cola, Colgate-Palmolive, Compliance & Risks, Costco, Crocs, CropX, CVS, Danone, Databricks, Datamaran, Dollar Tree, Durham Parks Foundation, eBay, ECCO, EcoBeautyScore Consortium, Eileen Fisher, Ellen MacArthur Foundation, Follow Your Heart, Fossil Group, Global Reporting Initiative (GRI), Grove Collective, Grupo Bimbo, Hero Group, Hershey's, IKEA, Impossible Foods, International Chamber of Commerce, JBS Foods, Keurig Dr Pepper, Kraft Heinz, Kroger, L’Oréal, Land O’Lakes, Leather Working Group, Lego Group, Levi Strauss & Co., lululemon, LVMH, Mars, McCormick, Microsoft, Mondelēz International, National Retail Federation (NRF), Nestlé, New Balance, Nike, NRF Center for Retail Sustainability, On, P&G, Park Prive, Patagonia, PepsiCo, Procter & Gamble, Reformation, REI, Retail Industry Leaders Association (RILA), Risilience, Rochester Institute of Technology, S&D Coffee and Tea (now Westrock Coffee), Samsara Eco, Schneider Electric, Science Based Targets initiative (SBTi), South African Plastics Pact, SupplyShift, Sustainability Accounting Standards Board (SASB), Sustainable Agriculture Initiative (SAI) Platform, Target, Thayers, Tide, TOMS, Trove, TrusTrace, UN, Under Armour, Unilever, US Customs and Border Protection, US Food and Drug Administration (FDA), Vibrant, Walmart, Wayfair, Woolworths, World Economic Forum (WEF)About the authors
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