From the course: Driving Sustainability at Your Organization
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Benchmarking
From the course: Driving Sustainability at Your Organization
Benchmarking
- In order to stay in business, you must keep up with your competition. Benchmarking your business peers is one of the best places to start implementing your business sustainability program. In this lesson, I'll show you how to perform benchmarking to inform your strategy and approach to creating a sustainable business, so you can keep up with your competitors and stay ahead of the curve. First, understand how to identify a benchmark. A benchmark is a standard with which to measure performance. Benchmarking is a process where you measure your company's progress against your top competitors to identify performance gaps and help strategize to improve your performance. ESG benchmarking starts with gathering your competitors' data on key sustainability related performance indicators or KPIs. This may include sustainability policies, certifications, and emission reduction targets, and tracking progress against these targets over time. For large companies, you also want to gather your…
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