Role of external consultants in organisation’s sustainability performance
Social Bonds : A significant financing opportunity amid the pandemic
Objective and origin
This paper explores the different roles external consultants play in disseminating concepts, best practices and strategies pertaining to corporate sustainability. The study traces its roots to findings by Young et al (2003) on the UK's corporate social responsibility (CSR) consultancy sector.
Motivations
Organisations implement sustainable practices for compliance, competitive advantage, human capital development and stakeholder-value creation.
Challenges
Internal ESG implementation requires significant organisational know-how and capacity, which external consultants can provide.
The role of external consultants
External consultants play a pivotal role in enhancing organisational sustainability by providing expertise, validating decisions, transferring knowledge and technology, acting as intermediaries, contributing to policy development, facilitating learning, setting standards and building capacity. Their diverse roles ensure that organisations can effectively implement and sustain ESG practices, driving long-term sustainability and competitive advantage. The paper delves into each of these roles, with real-life examples.
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