Green light for firms adopting sustainability

SUSTAINABILITY is the new mantra for strategic differentiation. The global brand and marketing industry is abuzz with brands implementing new sustainability initiatives. The Hershey Company, for instance, recently made new deforestation prevention commitments in its supply chain through a comprehensive pulp and paper policy and increased efforts to trace the sources of all palm oil supply. Other examples include Mondelez International's Cocoa Life Initiative and Unilever's Sustainable Living Plan.

In 2010, Unilever launched the Unilever Sustainable Living Plan, which is a blueprint for sustainable business. The plan helps the group "decouple growth from environmental impact while increasing positive social impact, driving profitable growth for our brands, and saving costs and fuelling innovation".

Becoming recognised as a "sustainable" organisation can enhance brand equity, unlock opportunities to create new markets and launch sub-brands, line extensions and packaging innovations. In the fashion industry a number of companies are reinventing themselves with fresh initiatives and brand identities with a sustainability focus.