The 5 essential steps to get a social license for your business in Canada

The social license to operate (SLO) has become an essential element of a company’s long-term viability in today’s commercial environment. This license goes beyond a mere legal permit or formal document; it represents a social commitment and approval from the community and stakeholders, enabling a company to operate in a specific area.

Below, you will find the crucial steps to secure an SLO in Canada, the dangers linked to operating without it, and the beneficial effects its existence brings to business sustainability.

Operating without a social license: Is it possible?

A social license to operate (SLO) is crucial for any business striving for enduring sustainability and achievement. Although it might be theoretically feasible to function without an SLO, this approach entails substantial risks and could lead to severe repercussions.

In the absence of the local community’s consent and backing, businesses face risks of social discord, interruptions in operations, and harm to their reputation. These threats not only jeopardize the immediate feasibility of the project but may also weaken the company’s credibility and long-term sustainability.

Essential elements for maintaining the social license to operate in Canada

To uphold a social license to operate (SLO), businesses need to foster open and ongoing dialogue with local communities and various stakeholders. This entails not only updating on company operations and initiatives but also engaging in active listening to address community feedback and concerns effectively.

Transparency cultivates trust and empowers companies to foresee and address possible disputes. For organizations, it is imperative to showcase a sincere dedication to sustainable development and community welfare by adopting responsible practices that honor both the environment and human rights.

Corporate social responsibility (CSR) is an additional essential element that surpasses mere legal requirements, emphasizing the importance of making a positive impact on society. Businesses should participate in initiatives aimed at improving the quality of life within communities, including educational, health, and infrastructure programs. CSR not only enhances a company’s reputation but also fortifies relationships with stakeholders and cultivates a more supportive environment for its operations.

Collaborators in strategic sustainable development

Socionaut partners with companies that align with their values regarding sustainable development, aiming to bolster the success of their clients’ initiatives, foster sustainable socio-environmental impact, and create mutual value for local communities.

In search of guidance for your business? Check out Socionaut’s website for further details.