On 23 July we hosted a webinar on ‘Seizing the sustainability opportunity in the next normal’. The session explored why now, more than ever, it is vital for companies to ensure they are focusing on the right material topics, building resilience and telling their sustainability story.
An expert panel of speakers joined Stephen Butler of the Luminous strategy team, and a selection of key takeaways from each of the panellists’ presentations is as follows:
Stephen Butler highlighted that mega-trends such as climate change, supply chain resilience, diversity and equality, biodiversity and stakeholder capitalism are not new to the sustainability agenda. Still, because of COVID-19, they have been highlighted and accelerated.
He echoed the words of Mark Carney that, as awful as COVID-19 has been, climate change and the collapse of biodiversity will be much worse and far-reaching and certainly not something one can self-isolate through.
Sarah Holloway highlighted that it is no longer an option for a company to be compliant or only doing good; a business needs to be strategic and purpose-driven in its approach. Sarah also said that getting the basics right was more fundamental than ever, and should cover:
- Vision: What is the role of my organisation in a sustainable world?
- Priorities: What are our most material impacts – positive and negative?
- Embedding: How do we make these priorities a core part of our business model?
- Reporting: How do we demonstrate progress against our vision and priorities?
Sarah’s top tip was: start now, don’t wait to define your material issues until the sustainability report comes around.
Shelia Morrison helped us to understand how to embed sustainability into a business through an Educate, Engage, Empower and Recognise framework. She offered some useful ways in which a company could engage with its employees through the use of sustainability bulletins, blogs, employee e-mags and social campaigns.
Shelia’s top tip was to align your sustainability agenda with your vision, purpose and values.
If you would like to discuss how Luminous can help you seize the sustainability opportunity, please get in touch.