Page 48 - March 2021

SPECIAL FEATURE: GREEN INITIATIVES

ACE & TATE’S ANTwERP SToRE
Amsterdam

Why Strategy

Is Important

eing sustainable is no longer a ‘nice to have’, of corporations taking responsibility for their sustainable
it must be the foundation that every business development. We see brands like Chanel committing to
builds upon, and brands with a physical financial bonds with built-in sustainability clauses. Businesses
B retail presence are uniquely placed to have like Vodafone are reviewing their supply chains, and
significant impact. manufacturers like LEGO, are setting ambitious materials
What Is Sustainability? goals - committing to producing only sustainably made
Whilst sustainability is commonly considered a conversation bricks by 2030.
around the protection of the world’s natural resources, the We’re seeing great progress, but for every brand doing
broader definition includes three core pillars: environmental, great things, there are many that must do more. No matter
economic and social sustainability. All of these must be how big or small, they all have a role to play, and this of
invested in, if we are to achieve the UN’s goal of ‘peace course includes brands with a physical retail channel.
and prosperity for people and the planet, now and into The Role Of Physical Retail
the future’. Despite the disruption the pandemic has brought, retail
A Collective Responsibility: Governments, People will always remain integral to global society. Furthermore,
And Brands retail’s role in society is evolving. Consumers are looking to
The commitment to creating a pathway to sustainability retailers and brands to lead by example, to educate and
is ramping up. Progressive movements such as the UN’s deliver cultural influence. The pandemic has seen consumers
2030 initiative for Sustainable Development and the Paris adjusting their lifestyles to reduce their environmental
Agreement on climate change, demand that governments impact, and increasingly they are actively choosing brands
enforce change. But policy can only have impact if it’s that demonstrate sustainable values.
followed by action. This ranges from the household that Through their stores, retailers are in a powerful position
commits to using less energy to the large-scale impact to deliver sustainability. Alongside the opportunity to address

48 RETAIL & LEISURE INTERNATIONAL MARCH 2021