Measured sustainability…a calculated, deliberate approach to sustainability.

Discovery, one of South Africa’s largest health and life insurance companies, has recognized that by embracing sustainability they are able to build business value and increase their competitive Eco-Advantage.  Discovery requested the assistance of Global Carbon Exchange (GCX) in the development of their environmental policy and sustainability strategy that would include an action plan for the selected business units. Kevin James, CEO of Global Carbon Exchange comments "GCX is delighted to be able to assist South Africa's leading health and life insurer integrate environmental sustainability into their business strategies. The executive team at Discovery have a clear understanding that the environmental and social sustainability of their organisation will contribute significantly to ensuring their economic sustainability moving forward. To this end, we have received the strongest possible mandate to conduct this study and the Discovery leadership team is taking this very seriously indeed."

GCX identified four building blocks for creating business value through sustainability. The first is by reducing overheads through streamlining processes to achieve maximum efficiency in the organization. The second is by increasing revenue through product differentiation, integration with existing reward programs and identifying other revenue generating opportunities. The third is by managing risk and ensuring that the company complies with existing and future environmental legislation. And lastly by enhancing the brand and reputation of the company by demonstrating commitment to environmental management.

The Discovery Environmental Policy will form the framework for the broader sustainability strategy. The Sustainability Strategy will include an environmental action plan that incorporates the selected business units and covering water-usage, waste generation and emissions reduction. In order to measure the impact of the Sustainability Strategy, scorecards and monitoring methodology are being developed for each of the business units with associated Key Performance Indicators and reduction targets. The remaining emissions that cannot be reduced completely may be offset through investment in various offsetting projects should Discovery wish to attain Carbon Neutral status. GCX will also provide Discovery with a Supply chain greening and Green Procurement policy to further minimize their environmental impact.

There is no doubt that the business landscape as we know it is changing. Volatile energy prices, increase in cost of raw materials, increase in waste disposal costs, increasing environmental legislation, changes in customer demands and expectations are just a few of the reasons for embracing sustainability. Discovery has recognized this and is acting in order to be prepared for those changes, be ahead of their competitors and continue doing business into the long term future.  Shouldn’t you?