P&G: a force for good and a force for growth
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Today, consumers expect more from brands and companies: 9 out of 10 consumers report that they have a more positive image of a brand or a company when it supports a social or environmental cause. Half say they make purchase decisions based on shared beliefs with the brand, and people of all ages – from Gen Z to Millennials to Boomers – now expect brands to take a stand and make a difference on important societal issues.
Doing good also helps drive market growth: the United Nations indicates that achieving the Sustainable Development Goals – which focus on solving the world’s most pressing problems while driving economic growth – represents a $12 trillion economic opportunity for businesses through a fairer, broader-based and more sustainable economy. Done well, efforts across equality, sustainability and communities can raise income and wealth for more people.
Companies take different approaches in how they tackle efforts in Environmental, Social, and Governance (ESG) areas: at Procter & Gamble such efforts are delivered through the umbrella of Citizenship, building this into how they do business every day. Comprising three pillars – environmental sustainability, community impact and equality and inclusion – all underpinned by a strong foundation of ethics and corporate responsibility, this approach enables the company to be a force for good and a force for growth in society.
Serving nearly five billion people gives P&G and its brands the unique opportunity to deliver not only against strong product performance but also to promote conversations, influence attitudes, inspire behavioural change and drive positive impact on society and the environment.
Environmental sustainability has been embedded into how P&G does business for decades: the company has a strong track record in continually working to minimise its environmental impact and enable consumers and suppliers to do the same. It focuses its efforts on climate, water and waste, reporting progress against its goals in an annual Citizenship Report. In September 2021, P&G announced a comprehensive Climate Transition Action Plan – Net Zero 2040, to accelerate action related to climate change, setting a new ambition to achieve net zero greenhouse gas emissions across its operations and supply chain by 2040, with interim 2030 goals to ensure meaningful progress this decade.
P&G’s community impact work supports people and communities. During the Covid-19 pandemic, it provided relief around the world through donations of products, cash and personal protective equipment. At the same time, P&G supported those who have faced fires, floods, typhoons, hurricanes and other emergencies. Its signature Community Impact initiative inspired by work led by UK scientists, the P&G Children’s Safe Drinking Water Programme has provided more than 19 billion litres of clean water to people in need around the world. Many P&G brands have longstanding relationships with charity partners, using their voices to raise awareness of the causes and help fundraising.
The company also focuses on equality and inclusion to help create a world where they are achievable for all, inside and outside of P&G. It uses its voice – inspired by its diverse workforce – through advertising, programmes and films to advance equity in the industry and society at large. The guiding belief is when brands and businesses meaningfully engage in supporting equality, it leads to a better world for all.
Such activities need to be underpinned by strong ethical, compliance and quality standards. In fact, the cornerstones of Procter & Gamble’s heritage were quality and honesty. Founded in 1837 by Englishman (William Procter) and Irishman (James Gamble) who believed that the key to earning a profit was to earn the trust of the people who bought their products. Such beliefs have endured the test of time, giving rise to the company’s Purpose, Values and Principles which guide it in its dealings today, enabling it to be a force for good and a force for growth.
Click here to learn more about P&G and its citizenship programme.
Originally published on Business Reporter