Let’s start with the basics, within the global stock market the smart investors are stampeding towards ESG assured organisations, sectors, and marketplaces. The corporate reports of most large organisations are now poured over for any signs of unsustainable behaviour, and NGOs and pressure groups now have a fast media track into reporting poor societal behaviours and practices by businesses. Yes, you can still get away with unsustainable practices dependent on where you are, how you practice and what personally drives you to poison rivers and exploit the low paid, but the world in this regard is thankfully becoming a smaller place.
Boardrooms and senior leadership groups are rushing to sign up to sustainable principles, zero-net emissions, and a wide variety of visibly public commitments. We have also had the first attempts by the big oil and gas giants – the middlemen in the great climate debate – telling us how they will remain perfect global citizens, whilst still hanging on their oil reserves.
The current level of action, positioning and at times rampant showmanship regarding sustainability is impressive compared with the level of activity ten years ago. The climate deniers are now struggling with scraps of evidence to support their claims in the face of overwhelming international and visible evidence. The number of sustainability jobs on offer now exceeds the experience and knowledge of the candidates, and we are still struggling to meet the climate change commitments of the Paris Agreement. It is a great time to be involved in the sustainability industry!
That is my key point, the belief that practical business ready sustainability protocols and processes are now matched by sustainability accepting business leaders, who believe in it as an integrated business process and driver of growth rather than short term market advantage. It is that tipping point that we have not quite crossed yet – we are definitely on the way towards letting sustainable and responsible management practices become the ‘new normal, that’s going to be a bit of a transformation to fully embed, especially for those who have played along with sustainability as just a ‘nice to have or who believe it is their Milton Friedman right to treat the planet as a self-replenishing golden goose that can be repeatedly plucked.
We still need to perceive real change:
Ultimately sustainability is a way of thinking and acting within the business, hopefully, we are being to learn that what may seem like today’s shortcut provides a harsher pathway for the business’s continuity and tomorrows organisational leaders. Business leaders should be rewarded on how they have led across the long-term, not just on last month’s share price.
If COP26 fails to bring about intergovernmental action on climate change, after the recriminations the spotlight will no doubt fall on the finance and business markets to ‘do something. This will demand an even bigger role for business within carbon and sustainability transition, with a visible requirement for results.
By nature, business is competitive, I look forward to investing further amongst those who seek to be the best, most profit-orientated and sustainable business.