Steer your portfolio toward greater sustainability and growth with Portfolio Sustainability Assessment.
Consumers and governments are taking a strong interest in the sustainability of individual products. Global agreements, such as the Paris Climate Agreement and the United Nations Sustainable Development Goals, underpin the need for companies to provide greater transparency on the sustainability of their products.
To seize opportunities and minimize risks, companies are using Portfolio Sustainability Assessment (PSA) and Sustainable Solution Steering® (thinkstep's and BASF's unique PSA method) to systematically assess and proactively steer their overall product portfolio toward improved sustainability performance. To gain transparency and focus, Sustainable Solution Steering® and Portfolio Sustainability Assessment classify the portfolio using relevant sustainability criteria, such as:
- Legislative requirements driven by sustainability issues, such as recycling, air quality or energy efficiency
- Value chain requirements, such as standards from key customers or relevant certification and labelling schemes
- Socio-economic and environmental impacts across the life-cycle of products
Under the umbrella of the World Business Council for Sustainable Development (WBCSD), a framework for Portfolio Sustainability Assessment was developed and published in October 2017. thinkstep contributed to the development of this framework and has been supporting companies to develop and implement Portfolio Sustainability Assessment approaches since 2015.
To help you develop and implement a customized portfolio steering approach, thinkstep provides a combination of strategy consultancy, sustainability knowledge and data from diverse industries and a software tool based on our SoFi platform to support data collection, product evaluation, portfolio steering (based on KPIs) and reporting.
For example, thinkstep has been adapting the BASF Sustainable Solution Steering® approach to allow BioMar (a leading international provider of feed for aquaculture) to assess and steer its portfolio of up to 1,500 raw material ingredients. BioMar can now work closely with suppliers to reduce risks and improve the sustainability of their supply, while providing transparency and added value to its customers.
Analyse your entire product portfolio and reflect on economic, ecological and social...