Sustainability as a Strategy

We are back. Welcome to this month's edition of the Impact Brief, your go-to source for insights and news for sustainability and business. The state of sustainability in the business world continues to surge, with companies embracing sustainability in every way possible. As such, sustainability is most effective when it's the core part of strategic thinking and doing.

Sustainability can not be a separate agenda but a core component of strategic planning and competitive positioning. This shift is driven by a recognition that sustainable practices are key to long-term resilience, market relevance, and profitability. Companies adopting sustainability as a strategy can be better positioned to navigate the complexities of the global market, meet regulatory requirements, attract investment, and foster customer loyalty, but are also more competent in being good community actors and even corporate advocates for issues that matter to their interest holders.

From new product development to hiring practices to align investments to UN SDGs, centring sustainability as a core pillar or principle for a strategy can enable better decision-making at every level for an organization, prioritize strategic direction, and ultimately drive sustainable growth and create a competitive advantage. All in good time, as global risks continue to build as reported through the Global Risk report from social polarization, to extreme weather, to misinformation, and many more -the data is all point in the same direction - organizations need to build internal resiliency and strategy to prepare for the future.

Do We New Language?

With the increasing litigation against companies to be found greenwashing, no one is being left to their own devices, even B Corp as has been seen by the Havas and Shell scenario. This crackdown has contributed to an emerging trend known as "greenhushing," where businesses, wary of being accused of greenwashing, choose to undercommunicate their genuine sustainability efforts.

A 2021 survey by TerraChoice Environmental Marketing found that over 95% of green-labeled products had committed at least one form of greenwashing, highlighting the scale of the issue. In response to these challenges, the concept of "greengaging" is gaining traction, emphasizing authentic engagement with sustainability practices. Greengaging encourages companies to not only transparently share both their achievements and challenges in sustainability but do it by skillfully engaging stakeholders through real and effective sustainable communication practices, fostering a culture of honesty and continuous improvement in environmental efforts. This approach not only mitigates the risk of greenwashing accusations but also builds stronger trust with consumers and stakeholders eager for real environmental stewardship.

All to say - make sustainability a key strategic focus in 2024!

Sustainable Development Goals Targeted by Impact Investors

3 Climate Thought Leaders You Need to Follow on Linkedin

Hans Stegeman - Tipping Point Economics Newsletter

Lubomila Jordanova - The Climate of Business Newsletter

Alison Taylor - Higher Ground Book

Fresh Reports and Insights

The Case for Human Sustainability

A new report by Deloitte dives into the value of doing good for your interest holders and the world. Highlighting that 'many organizations are stuck in a legacy mindset that centers on extracting value from people rather than working with them to create a better future for organizations and individuals alike.' Read the full report here.

Circularity Gap 2024

The annual circularity gap report is out. The main takeaway? Circularity is gaining steam, even reaching megatrend status, but action is yet to follow while consumption is growing. For instance, although more people then ever know what circularity its, and even consider it a key strategy for a sustainable future, global circularity has decreased from 9.1% in 2018 to 7.2% in 2023, underscoring the severity of the circularity gap that we are living and contributing to. Read the report here.

Global Risk Report 2024

The annual risk report produced by the WEF is out as well. No surprise extreme weather events and misinformation top the list for the next two years, while climate-related risks dominate the list in the long run. We especially appreciated the interconnectedness map and discussion in the report, as we know none of these risks exist in a vacuum. Read the full report here.

WEF - Global Risk Report Interconnection Map

GRI Biodiversity Standard

GRI released its much-anticipated biodiversity-focused GRI 101 Biodiversity standard after a year-long public comment period. The standard aligns with the Kunming-Montreal Global Biodiversity Framework(GBF). You can view the new standard here. Below a visual of where the standard sits in the landscape of the evolving sustainability frameworks and standards.

The BC @ESG Centre of Excellence Launches

The new centre launches with its resources and support for SMEs to embrace ESG. Check out the website and download their new guide.

Upskilling for Canadas Climate Transition

A new report and recommendations for upskilling the workforce on sustainability to meet the demands of the changing climate. It's a great piece of work that asks how we can approach this challenge not piecemeal but from a national perspective in Canada. Read the report here.