Post by account_disabled on Mar 4, 2024 1:55:37 GMT -5
For many a new year brings a new sense of motivation and purpose. With that in mind, Edie Portal hosted two online sessions, in partnership with Seismic, to set the stage for how to embed sustainability in organizations. We tell you.
In conjunction with Edie's B Corp organisations, Seismic, the sessions aired on 6 January and were dedicated to turning COP26's global ambitions into sustainable business action and balancing profit and purpose in 2022.
A high-level panel discussion discussed how trends seen at COP26 will shape business leadership this year. Expert representatives from Virgin Media O2, Ikea, Willmott Dixon and Seismic participated.
Then there was a masterclass giving Chile Mobile Number List advice on how to become certified under B Corp, one of the most appreciated certification schemes in the world.
What were the panelists' 7 tips for incorporating sustainability? Here we tell you:
1. Make sure your goals are credible and based on science
Reflecting on her work as a COP26 alliance advisor, Ikea's country sustainability manager for the UK and Ireland, Hege Saebjornsen, summarized how the final quarter of 2021 marked “real momentum” in ensuring sustainability goals corporate governance are credible and rooted in science. Drivers include improved legislation, as well as greater scrutiny from investors and consumers.
To reduce emissions, the science and support for corporate alignment have never been clearer. Race to Zero has received support from most of Britain's largest companies, after strengthening membership requirements. The Science-Based Targets Initiative (SBTi) has seen a surge in applications and is set to increase the minimum target-setting requirement to 1.5°C as it rolls out its new Net-Zero standard .
In 2022, science-based targets are also likely to be introduced for other corporate sustainability topics, including nature. At the same time, climate risk reporting will become increasingly standardized. Leadership will mean following and participating in these trends.
incorporate sustainability
2) Evaluate, and maximize, the net zero ripple effect by incorporating sustainability
At this point, it is well documented that most companies will have higher indirect emissions than direct ones. This means that Scope 3 targets will be key to any credible net zero emissions plan. Speakers noted a shift in corporate attention to their ability to leverage decarbonization throughout and beyond their value chain.
Willmott Dixon sustainability director Julia Barrett argued that companies concerned about the effects of the environmental crisis should leverage all key touchpoints to create a “ripple effect” of decarbonisation.
incorporate sustainability
3) Adequately link environmental and social sustainability
The Covid-19 pandemic sparked much discussion – and understanding – about the ways in which public health and sustainability intersect. The language of the 'green recovery' became widespread. Even if the action of nations and corporations did not match the words. And, looking ahead to 2022, focusing on the just transition is starting to become a legal requirement, as well as the right thing to do.
As Seismic’s Lewis said: “Environmental and social agendas cannot now be considered in isolation. You have to look at them together. “That’s one of the reasons we advocate for the B Corp movement.”
Willmott Dixon's Barrett also pointed to the drop in global emissions caused by Covid-19 lockdown restrictions in 2020. This is consistent with the level of reductions that will need to be seen annually to achieve the 1.5C target. However, the responsibility now falls on the leaders. To do this, they will have to demonstrate that incorporating sustainability can be achieved while helping people improve their quality of life.
incorporate sustainability
4) Reconsider your approach to collaboration
Much has been said about how the world is still far from meeting the Paris Agreement and the UN SDGs, and about the need to go beyond partnerships for partnerships' sake.
Seismic CEO and co-founder Paul Lewis said: “I think collaboration is the way out of the hole we're in. «I think we are all, in part, inspired by the attempts at collaboration seen at COP26. But collaboration fails where there is distrust and, at the moment, I think there is a lot of that at the political level.
“The corporate level is where we can make great strides.”
Lewis noted the many sector-specific collaborative forums available for business collaboration on sustainability; as well as the general Race to Zero and B Corp movements . Within the B Corp movement, there are groups for companies in the same countries, as well as an international climate collective.
Lewis argued that, “by sharing best practices, you are demonstrating leadership” in mainstreaming sustainability. Benefits include being seen as a transparent company and the reciprocal sharing of knowledge that could save time and money.
incorporate sustainability
5) Get rid of the debate between sustainability and profitability
In the months leading up to the publication of the Heat and Buildings Strategy, and in the months that followed, much has been said in the UK's mainstream media and political spaces about the cost of the net zero transition, with detractors arguing that it will increase costs and be bad for business at the most inconvenient time.
Most in the green economy, of course, would disagree. Like the UK Government, which espouses green growth rhetoric and was keen to promote UK Plc at COP26. Seismic's Lewis explained that the so-called "big resignation" of 2020 and 2021 is now turning into a "big shakeup," with many people using ESG or CSR as their "first filter" when choosing a new role.
“Those who are highly mobile and highly employable are voting with their feet,” he summarized. “They want to work for a company that is a force for good.”
“One of our business growth opportunities is to embrace sustainable and healthy living… People need solutions to decarbonize their homes and daily lifestyles.” Sustainable products can generate cost savings for customers, such as Ikea's second-hand furniture offering .
sustainability and profitability
6) Update your mission statement and stick to it
Of course, following all of the above advice is all well and good until the company faces a challenge and the case can be made for moving sustainability down the agenda.
To overcome this issue, speakers at both sessions emphasized the importance of building a strong culture of purpose. In addition to continually reminding decision makers that deviation from this purpose will attract criticism from key stakeholders. It was recognized that this should not be seen as a quick fix, but rather as a continuous change in mindset and culture. However, an updated statement of purpose or simply giving the environment and society virtual “seats” on the board can help.
In conjunction with Edie's B Corp organisations, Seismic, the sessions aired on 6 January and were dedicated to turning COP26's global ambitions into sustainable business action and balancing profit and purpose in 2022.
A high-level panel discussion discussed how trends seen at COP26 will shape business leadership this year. Expert representatives from Virgin Media O2, Ikea, Willmott Dixon and Seismic participated.
Then there was a masterclass giving Chile Mobile Number List advice on how to become certified under B Corp, one of the most appreciated certification schemes in the world.
What were the panelists' 7 tips for incorporating sustainability? Here we tell you:
1. Make sure your goals are credible and based on science
Reflecting on her work as a COP26 alliance advisor, Ikea's country sustainability manager for the UK and Ireland, Hege Saebjornsen, summarized how the final quarter of 2021 marked “real momentum” in ensuring sustainability goals corporate governance are credible and rooted in science. Drivers include improved legislation, as well as greater scrutiny from investors and consumers.
To reduce emissions, the science and support for corporate alignment have never been clearer. Race to Zero has received support from most of Britain's largest companies, after strengthening membership requirements. The Science-Based Targets Initiative (SBTi) has seen a surge in applications and is set to increase the minimum target-setting requirement to 1.5°C as it rolls out its new Net-Zero standard .
In 2022, science-based targets are also likely to be introduced for other corporate sustainability topics, including nature. At the same time, climate risk reporting will become increasingly standardized. Leadership will mean following and participating in these trends.
incorporate sustainability
2) Evaluate, and maximize, the net zero ripple effect by incorporating sustainability
At this point, it is well documented that most companies will have higher indirect emissions than direct ones. This means that Scope 3 targets will be key to any credible net zero emissions plan. Speakers noted a shift in corporate attention to their ability to leverage decarbonization throughout and beyond their value chain.
Willmott Dixon sustainability director Julia Barrett argued that companies concerned about the effects of the environmental crisis should leverage all key touchpoints to create a “ripple effect” of decarbonisation.
incorporate sustainability
3) Adequately link environmental and social sustainability
The Covid-19 pandemic sparked much discussion – and understanding – about the ways in which public health and sustainability intersect. The language of the 'green recovery' became widespread. Even if the action of nations and corporations did not match the words. And, looking ahead to 2022, focusing on the just transition is starting to become a legal requirement, as well as the right thing to do.
As Seismic’s Lewis said: “Environmental and social agendas cannot now be considered in isolation. You have to look at them together. “That’s one of the reasons we advocate for the B Corp movement.”
Willmott Dixon's Barrett also pointed to the drop in global emissions caused by Covid-19 lockdown restrictions in 2020. This is consistent with the level of reductions that will need to be seen annually to achieve the 1.5C target. However, the responsibility now falls on the leaders. To do this, they will have to demonstrate that incorporating sustainability can be achieved while helping people improve their quality of life.
incorporate sustainability
4) Reconsider your approach to collaboration
Much has been said about how the world is still far from meeting the Paris Agreement and the UN SDGs, and about the need to go beyond partnerships for partnerships' sake.
Seismic CEO and co-founder Paul Lewis said: “I think collaboration is the way out of the hole we're in. «I think we are all, in part, inspired by the attempts at collaboration seen at COP26. But collaboration fails where there is distrust and, at the moment, I think there is a lot of that at the political level.
“The corporate level is where we can make great strides.”
Lewis noted the many sector-specific collaborative forums available for business collaboration on sustainability; as well as the general Race to Zero and B Corp movements . Within the B Corp movement, there are groups for companies in the same countries, as well as an international climate collective.
Lewis argued that, “by sharing best practices, you are demonstrating leadership” in mainstreaming sustainability. Benefits include being seen as a transparent company and the reciprocal sharing of knowledge that could save time and money.
incorporate sustainability
5) Get rid of the debate between sustainability and profitability
In the months leading up to the publication of the Heat and Buildings Strategy, and in the months that followed, much has been said in the UK's mainstream media and political spaces about the cost of the net zero transition, with detractors arguing that it will increase costs and be bad for business at the most inconvenient time.
Most in the green economy, of course, would disagree. Like the UK Government, which espouses green growth rhetoric and was keen to promote UK Plc at COP26. Seismic's Lewis explained that the so-called "big resignation" of 2020 and 2021 is now turning into a "big shakeup," with many people using ESG or CSR as their "first filter" when choosing a new role.
“Those who are highly mobile and highly employable are voting with their feet,” he summarized. “They want to work for a company that is a force for good.”
“One of our business growth opportunities is to embrace sustainable and healthy living… People need solutions to decarbonize their homes and daily lifestyles.” Sustainable products can generate cost savings for customers, such as Ikea's second-hand furniture offering .
sustainability and profitability
6) Update your mission statement and stick to it
Of course, following all of the above advice is all well and good until the company faces a challenge and the case can be made for moving sustainability down the agenda.
To overcome this issue, speakers at both sessions emphasized the importance of building a strong culture of purpose. In addition to continually reminding decision makers that deviation from this purpose will attract criticism from key stakeholders. It was recognized that this should not be seen as a quick fix, but rather as a continuous change in mindset and culture. However, an updated statement of purpose or simply giving the environment and society virtual “seats” on the board can help.