The practice of releasing corporate sustainability reports became more common among publicly listed companies, according to a Towards Transparency report.
It indicated that the firms have¬†recognised¬†the need to provide more information to their consumers. Transparency likewise helps companies become one of the top brands in the country. Air New Zealand, for instance, ranks as the most¬†favourite¬†business among Kiwis based on an index.¬†Novelli¬†shares more information about this trend.
The Towards Transparency report¬†showed that more than 75¬†per cent¬†of listed companies on the New Zealand Stock Exchange has submitted corporate sustainability reports. The new trend on reporting stems from investors who want information on non-financial matters to help in making decisions. Aside from sustainability, many public companies have done integrated reporting for a more comprehensive disclosure.
There are other ways to improve the sustainability aspect of your brand. It could be as simple as using traditional strategies by promotional merchandise companies or focusing on a key environmental concern that aligns with the nature of your company‚Äôs business.
The Corporate Reputation Index¬†ranked Air NZ as the most favoured brand¬†among Kiwis due to the company‚Äôs distinctive customer service. TVNZ, Toyota, AA Insurance and Z Energy followed the airline service. These companies ranked high not only on consumers‚Äô trust but also on the corporate social responsibility aspects.
The main reason for fast-rising brands in the list involves a timely and swift resolution for issues that are important for their target markets. For instance, some of the companies on the list addressed the problem with disposable grocery bags by introducing reusable ones. This means sustainable practices do not always need to be complex and elaborate.
Brands need to reinvent themselves in a way that will not just increase their bottom line, but also strike a chord with their customers, especially if it resolves certain issues that are relevant to them.