We created the monster “It” – our cherished sustainability community.
It was created with good intent, I know. But the truth is that some of the work we do as sustainability professionals now undermines the purpose it aims to serve. The good news is that the solutions I propose include going on vacation (really), but I’ll get to the reasons why we’re here and the opportunity as I see it later on.
Now, we now have to re-invent “It”.
One of the most debated topics amongst sustainability professionals is “how to make “It” mainstream?”. By “It” we typically mean for our company, our investors and governments to adopt measures to build more resilient businesses – and to not destroy the earth as we make money. Sounds logical.
We have a collective migraine as “It” often doesn’t get the attention it deserves – and sometimes ends up sitting with one person who spends most of her time filling out surveys.
One budget and time-constrained person shouldering the responsibility for the long-term value of a company; a contradiction in terms, don’t you think?
Shouldn’t that person be the CEO, anyway? And shouldn’t the CFO have oversight of non-financial issues, not only short-term shareholder value? What happens when the company screws up and there happens to be financial implications? Who is held responsible, the lady with the survey?
And there happens to be a financial implication as a result, and that person is held responsible...Sounds like a lose-lose situation to me..
Simultaneously, how can "It" not be mainstream yet? It is widely discussed at Davos, in the G20, at the EU; Michael Bloomberg is running global working groups on climate change and there’s never been more ESG regulation.
Every time there’s a new game-changing event.. Why does "It" keep disappointing us? Or are we overlooking something?
We’re hearing "It" everywhere.. but still we only cite Unilever as the leading example – like we have done for the past 15 years. It’s like a record that got stuck.
What is going on? Are you as confused as me? Is it mainstream or is it not? How do we know? I need to know!
Mark McKenzie from KPMG wrote last week that Sustainability wasn’t sexy enough? Who’s fault is this? And why does Sustainability have to be Sexy when Financial Accounting clearly isn’t.
It’s still the top priority for the finance function and Boards of directors.. I do think there’s a lot of truth in it; somehow we haven’t nailed that compelling marketing (fear?) message to get “real action happening”.
Silver lining: the CFO of Danone seems to be serious - as she’s tying their externally verified ESG performance to cost of capital.
Carolien Gadella van Wersch joined us 1 year ago now. I read her LinkedIn summary and knew she understood:
She says: “I supported clients in developing sustainable strategies (instead of a sustainability strategy)…”
How refreshing! That’s exactly it – we don’t need a sustainability strategy or a sustainability report - we need to make the business sustainable. That’s the goal.
Did we lose track?
I see five reasons why we might’ve strayed from the best path, and five reasons to help us elevate the discussion and capture It. (This is where you should go on vacation).
5 reasons why we created “It”
5 ways to run away from “It”
I believe that "It" represents a big business opportunity for us all. What do you think?