A shared value opportunity is created when social need, business opportunity and Avista’s unique set of corporate assets and expertise intersect.
It is at the core of our corporate vision: delivering reliable energy service and the choices that matter most to our customers.
In the evolution of corporate responsibility reporting, the role and vision of the corporation is changing. Traditional reporting focused on compliance and how companies met the requirements. Philanthropy and community involvement were set apart from core business strategies.
In sustainability reporting, the focus is on outcomes of the company’s operations, but it is not necessarily tied to corporate strategic plans. Our report talks about how company operations affect the three legs of sustainability: environment, economy and society or some call it people, planet and profit.
Building shared value incorporates all of this information, and frames our reporting—and our business practices—in a new way. The key drivers become the links between our corporate strategic plans—opportunities that create economic value—and the positive outcomes that result for identified societal needs and challenges. For Avista, these needs and challenges have been discerned through customer surveys, analysis of media coverage and conversations with external stakeholders.
For more than 120 years, Avista has been an integral and active partner in the communities we serve. As an investor-owned energy company, we strive to enhance the value of our shareholders’ investments, while making sure the electricity and natural gas we deliver to residential, commercial and industrial customers brings reliable and safe energy for their lives and livelihoods, all while striving to protect the natural resources necessary to provide that energy. Based on the nature of our business and the commitment we’ve made as an essential services provider, we’ve identified three areas of focus in which we build shared value for our stakeholders: Customer Experiences, Responsible Resources and Environmental Stewardship.
In this report, we will give you some insight into the shared value being built in each of our focus areas. Each story is a snapshot in time—the result of business strategies and corporate assets intersecting with societal needs, yielding shared value for all.