Profitability and sustainability
It's all about the People, the Planet and Profit.
Profitability and sustainability should not be viewed as two separate variables but rather as two sides of the same coin, says Arild Spandow, CEO at Amesto Group. Amesto has chosen to redirect a previously biased focus on profit to an increased focus on people and the planet through what is known as a Triple Bottom Line (3BL). The 3 BL means that our management must deliver on all three aspects: People, the Planet and Profit.
Amesto has worked on the social aspect of business since 2012 to help drive economic, social and environmental performance. The group's owners have implemented a 3P bonus model based on measuring the companies not only from an economic perspective, but also including sustainability.
Our managers deliver on parameters through the Triple Bottom Line: People, the Planet and Profit. To exemplify, if financial results are met, but the objectives for People and Planet fall below the minimum requirements, the results have not been fully obtained.
Our ambition is for the changes to initiate a chain reaction in which every level across the entire organisation is challenged to work on the three Ps; People, Planet and Profit.
As a Manager at Amesto, Lars Rinnan is proud to be measured on more than just the bottom line. Hear his thoughts on the subject, and what he thinks the business world will look like in 2029.
HOW DO WE MEASURE?
At Amesto, “People” is measured based on monthly internal employee surveys (“&frankly”) and customer surveys (Net Promoter Score, NPS). “Planet” is measured based on strategy and goal attainment for specific social and green value-creating projects, while “Profit” is measured based on financial results (EBITDA). The managers of the various companies report to the Board of Directors on all three P’s and the aim is that all three will be weighted equally in relation to goal attainment over time.
It’s about the small choices you make every day. You don’t need to save the whole world tomorrow; you can start where you can with the means available to you. Don’t think that you can solve everything at once.You could, for example, clean your PC up to extend its service life. From a business perspective, you may be able to reuse hardware, instead of always buying new equipment for new employees. We can throw away less and make smarter choices.
In work life, we have already become accustomed to video meetings, which means that we protect the environment from unnecessary travel to a significant degree. The fact that more people are able to work from home will reduce the need for large office spaces and we can avoid unnecessary resource-intensive operations. Many sustainability measures actually involve a reduction in costs. As such, a focus on a business’s own footprint is a focus on costs.
Un Global Compact
Amesto has been a member of the UN Global Compact since 2012. We are committed to prepare and submitt an annual report on progress, also called "Communication on Progress - CoP".
Amesto is a diverse business, with multiple companies and priorities. We use the United Nations’ Sustainable Development Goals (SDGs) as a framework for the projects we work on.
Technology and digitisation are no longer optional for businesses if they wish to remain relevant and profitable. The question is not if, but how.