Stakeholder Engagement: Avoid It At Your Own Risk
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1 Sandy Nessing Managing Director, Sustainability and ESH Strategy & Design National Grassroots Conference – Key West, Florida January 2011 Stakeholder Engagement: Stakeholder Engagement: Avoid It At Your Own Risk Avoid It At Your Own Risk
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Sandy Nessing, AEP managing director of Sustainability and Environment, Safety and Health Strategy & Design, discussed stakeholder engagement at the National Grassroots Conference held in January 2011.
Transcript of Stakeholder Engagement: Avoid It At Your Own Risk
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Sandy NessingManaging Director, Sustainability and ESH Strategy & Design
National Grassroots Conference – Key West, FloridaJanuary 2011
Stakeholder Engagement:Stakeholder Engagement:
Avoid It At Your Own RiskAvoid It At Your Own Risk
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Stakeholder engagement is at the foundation of a sustainable business strategy.
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The Stakeholder RevolutionEveryone is a stakeholderExpectations are high◦ Profits and positive societal contributionsTransparency reigns supreme◦ Information is power and you control the story◦ Eliminate misperceptions◦ Build trust, credibilityAvoid shareholder resolutions◦ 363 filed in 2010
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What’s At StakeProfitsCustomersPublic supportCompetitivenessOpportunities for innovation and growthReputationTrust and credibility
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It Takes Courage And Leadership
Know your material issues and focus on thoseBe willing to listen, with positive intentBring the right people to the table ◦ A balanced conversation with many viewpointsManagement commitment is important◦ Is your CEO willing to engage?Follow-through is critical◦ Are you walking the talk?
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Not Everyone Gets It At First
They didn’t see the connection between stakeholder engagement and impact to ROI.
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AEP: Engaging With Coal SuppliersCoal always among top 3 stakeholder issuesOngoing discussions led to commitment for survey◦ Environmental, safety and health performanceFollowed up with stakeholder meetingBrought suppliers face-to-face with NGOs for the first time◦ Passionate but respectful engagementSurprised at what we learned – as were NGOs◦ Dispelled commonly-held misperceptions of coal industry◦ Clearer picture of the performance of our suppliers◦ Allowed AEP to begin laying the groundwork with stakeholders
for a transformation of its fuel portfolio
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It’s All About RelationshipsWill they be there when you need them most?
Do you have a platform for discussion, collaboration, innovation?
Stakeholder engagement is thenew business imperative.
Can you afford not to do it?
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Questions?Sandy Nessing
Managing Director – Sustainability & ESH Strategy and Design
Follow me on Twitter -- @Watts4U
www.AEPsustainability.com
