According to the MASB Sustainable Marketing Accountability (SMA) Project, “sustainability should never be a way for managers to justify ideas that haven’t been fully thought through, nor should it be a way for companies to appeal to consumers with false promises of promoting a better world. Sustainability is about taking a long-term perspective to business and to its impact on not only shareholders but also on others such as surrounding communities and the natural environment.”
The SMA Project team has published the white paper, Sustainable Marketing Accountability – From Risk to Return. “This white paper gives advice on sustainable marketing accountability. First, it outlines what is meant by sustainability and addresses what this has to do with marketing. While marketing has been called upon to facilitate ESG (Environmental, Social, and Governance), marketing’s role in sustainability is actually much broader than reporting to external investors, which we will discuss later.
“This white paper will note that while sustainability can be a cost and a means to mitigate business risk, it can also be an opportunity and a driver of performance. Critically, we will highlight the need for accountability, particularly in two terms: in terms of the impact of sustainability-related goals (such as environmental sustainability or social responsibility) on profit-seeking marketing, and in terms of the role of marketing in driving sustainability-related outcomes.”
The authors are Neil Bendle from the University of Georgia, Sarah Colamarino from SC Blueprint, Alfred DuPuy from Brand Finance, Frank Findley from MASB, and Johanna Frösén from Aalto University. Key issues they address include:
- What is Sustainability?
- Shareholders and Stakeholders
- Measuring Impact
- How Can Sustainable Business Make Money?
Marketing is being called upon to play a central role on corporate sustainability initiatives, including brand purpose, compliance, communication, adoption areas, product development, and go-to-market strategy, but it is unclear how marketing can fulfill its sustainability role. The SMA Project seeks to clarify what sustainability is, share examples of how marketing and sustainability can go together, and provide tools to achieve this goal. For more information, contact info@themasb.org.