Companies understand that “green” initiatives not only help the planet, but also raise an organization’s sustainability profile.
Next week, on April 22, people all over the world will celebrate Earth Day. What began, 44 years ago, as an American event is now a global celebration. And with that expansion has come an understanding that sustainability (the push to have and continue to have the water, materials, and resources to protect human health and the environment) is as important to the well-being of businesses as it is to the people they employ and serve.
If you don’t think that sustainability is that big a deal when it comes to business, then you’re out of step with some of the biggest players. Since 1999, the Dow Jones Sustainability Index (DJSI) has evaluated the sustainability performance of the largest 2,500 companies listed on the Dow Jones Global Total Stock Market Index, becoming the key reference point in sustainability investing by investors and companies. The DJSI assesses issues such as corporate governance, risk management, branding, climate change mitigation, supply chain standards, and fair labor practices.
Now the Sustainability Accounting Standards Board (SASB) has issued provisional standards for the Financial sector, including asset management and custody activities, commercial banks, consumer finance, insurance, investment banking and brokerage, mortgage finance, and security and commodity exchanges. These standards are designed to be cost-effective for companies to implement and useful for investors when making investment decisions.
Companies now grasp the importance of “green” initiatives that not only can cut costs for the organization, but also help the planet and improve the public’s perception of an organization’s culture. Accounts payable is one of the departments within an enterprise that can help with these initiatives through the implementation of e-invoicing solutions, effectively removing paper from the approval process.
Our infographic shows how AP can positively impact the planet by eliminating paper.
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