How can you balance competing sustainability priorities when negotiating with stakeholders?

1 Understand your stakeholders

Before you enter any negotiation, you need to understand who your stakeholders are, what they want, and why they want it. Stakeholders can include owners, investors, tenants, employees, customers, suppliers, regulators, communities, and NGOs. Each of them may have different sustainability criteria, such as energy efficiency, waste reduction, carbon footprint, social impact, health and wellness, and compliance. You need to research their needs, preferences, and motivations, and identify areas of alignment and conflict.

2 Define your objectives and boundaries

Once you have a clear picture of your stakeholders' sustainability priorities, you need to define your own objectives and boundaries. What are your sustainability goals and targets? How do they align with your business strategy and values? How flexible are you willing to be on certain aspects? What are your non-negotiables? You need to have a clear vision of what you want to achieve and communicate it effectively to your stakeholders.

4 Manage trade-offs and risks

However, finding common ground and value does not mean that you have to compromise on everything. You may encounter situations where you have to make trade-offs and manage risks. For example, you may have to balance the upfront costs and long-term savings of green investments, or the short-term returns and long-term impacts of social initiatives. You need to weigh the pros and cons of each option and assess the risks and opportunities. You also need to be prepared to walk away from a deal if it does not meet your minimum requirements or expectations.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?