By David Caskie

IF ever business value was measured in simple terms of profit and loss, the past year has changed all of that.

One consistent theme throughout 2020 was our collective responsibility to address the big issues that impact society as a whole – most notably, climate change and the global pandemic. Now what we consider "valuable" in business has expanded dramatically, including a proactive approach to sustainability, looking after employees, diversity and inclusion and social impact.

For any business, this is more than Corporate Social Responsibility (CSR). It is more than simply a moral obligation to do what’s right and best. Walking the walk of a responsible business is what it takes to be competitive.

In short, people (consumers, employees, shareholders) have become increasingly interested in intangible values, such as trust and transparency, and an alignment between a business’s mission and purpose with its own personal principles is being actively sought out.

Talented recruits are more likely to choose a place of work based on an organisation’s perceived values. Consumers are increasingly making conscious purchasing decisions. The criteria for choosing to give a company business now includes ethical standards, sustainability record and inclusion and diversity. Are employees being treated fairly? Is the organisation actively trying to reduce its impact on the planet? Are they addressing issues of equality?

It means that these considerations are no longer a "nice to have"; they are a business imperative and must be delivered on top of quality, reliability and price. They are part and parcel of the "value" that any business has to offer. And what customers, employees and shareholders now expect. It is responsibility by design and at Accenture, we now approach every client project through the prism of economic, social and environmental impact, because it is our belief that the responsible business will be more successful and create more value over the longer term.

The pandemic has reminded us, in a very cruel way, how interconnected our 21st century lives are on each other and the natural world. There is a renewed appreciation of the importance of our planet to our health and wealth. As we start to see a route out of the pandemic, via vaccines, sustainability must become a critical focus.

And as we progress through a year when Scotland will host COP26, there is an urgent need to move from sustainability intention to action. In Scotland, with our wealth of interlinked technology talent, there is an opportunity to unleash the power of technology to help rethink and solve some of the big challenges. We will deliver the action needed through our collective responsibility: sharing ideas, reducing the carbon footprint through circular models and investment in innovation and a new level of collaboration, but one that has already been proven throughout the Covid-19 pandemic.

Now is the moment for businesses to go beyond simple numbers. Sustainability, collaboration and indeed giving back has never been more important. Embrace it and act.

David Caskie is Corporate Citizenship & Sustainability Lead, Accenture in Scotland