Following the recent Edie Sustainability Leaders Forum, consultant Conor O’Carroll shares his takeaways for business leaders at any stage of their sustainability journey
The recent Edie Sustainability Leaders Forum saw global experts come together to discuss all areas of today’s sustainability agenda – from net-zero transitions and the evolving needs of society, to the necessity of redefining business purpose.
And Re_Set was there, hosting workshops, chairing panels and meeting with the business heads, thought leaders, and innovators shaping the agenda today and for the future. The message was clear: the time to act is now. So, if you’re a leader who’s ready to begin, below are our takeaways for what to do – and what not to do – to create a better future today.
Do…
1. …make sustainability everyone’s business
Sustainability won’t be everyone’s priority, especially at the C-Suite level, so you must find ways to make people care. To do this, work out the ways in which sustainability brings value to the different priorities of your stakeholders. For example, to get the CFO on board, speak their language by showing the financial case for sustainability. For the CMO, demonstrate the connection and loyalty you can build with customers by being purpose-driven and focused on sustainability. For the COO, highlight the reduction in employee attrition rate held by businesses with a clear sustainability purpose.
2. …put purpose at the core of your business
If you aren’t aligning everything your business does with your purpose, then all else is just a sticking plaster. “What is your purpose when your back is against the wall?” asked Natalie Campbell, CEO of drink business, Belu. She suggested that when times are tough, many businesses are likely to default on their main aims, delivering only against their articles of association – which, for most organisations, is value to shareholders. The truth is, that without serious commitment, net-zero and other sustainability goals will never be achieved if purpose isn’t a fundamental part of the business.
“The only way forward is to help companies you interact with change as well”
3. …invest time in partnerships and collaborations
The only way forward is to help companies you interact with change as well – especially those that you have influence on, including your supply chains. This is especially important for SMEs, as they will require larger players to help them on their sustainability journey. This may also require you to partner with competitors to ensure you have the critical mass required to move the needle. For example, in the retail sector, educating and collaborating with your supply chain will be vital to reducing your emissions, while partnerships with competitors will ensure you can influence both your mutual suppliers and the sector.
4. …embrace disruption to help accelerate change
Times of great disruption can also lead to great change and innovation. For example, the crisis unfolding in Ukraine has woken up world leaders to our collective dependence of Russian oil and gas. This crisis could accelerate the sustainability agenda as countries look for energy security by moving from fossil fuels to renewable sources.
5. …collect lots of data
Data will be key for making decisions and concentrating effort where it will have the most impact. Aligning this data with standards means you don’t have to start from scratch, but also that you can compare your progress and impact with your peers and wider industry benchmarks.
Don’t…
6. …suffer analysis paralysis
While data is great (see above), don’t get lost in it. Your customers and employees don’t care about what you’ll be doing in 2040 – they want to know what you’re doing now. Identify low hanging fruit and act on it immediately, while concurrently tackling and setting wider goals and sustainability strategies for your business.
7. …get carbon tunnel vision
Sustainability is not just about carbon. There are many other aspects to sustainability that affect us all – an example of which are the Sustainable Development Goals. Harriet Lamb, the chief executive of climate change charity Ashden, said that a “whole planet retrofit” was required. This is one that tackles societal inequalities and suffering as well as the planetary issues that carbon reductions aim to address.
“While it’s true that sustainability requires spending, it’s also important to emphasis the value that this can bring to a business.”
8. …obsess over the cost of sustainability
There is a huge focus on the extra costs associated with being sustainable. And while it’s true that it requires spending, it’s also important to emphasis the value that sustainability can bring to a business. The business case is there for sustainability, but you need to better communicate it.
9. …think you can solve everything with ‘offsetting’
While offsetting has the potential to deliver multiple benefits, there’s a danger that the concept pulls focus from the real goal of reducing absolute emissions. Offsets shouldn’t be seen as a ‘get out of jail free’ card – but they are part of the roadmap to a truly sustainable future. Focus is also needed on the development of stringent and robust verifications and standards.
10. …underestimate the power of your people
The adage: “culture is what is happening when no one is looking” is particularly true when it comes to sustainability. More likely than not, your people care about the issues facing the planet and society – so find ways to build a business that enables them to bring these values to the work they do. Equally, empower them to spread these values outside of work as well. Actively allow your business and your people to be a force for good in the world.
Conor is a Consultant at Re_Set. To speak to him about your sustainability journey, email him. Read more of Re_Set’s Edie content, click here
