A Course Reflection: Rapid Change Calls for Constant Re-Education
Recently, I completed a short course in Business Sustainability Management at the University of Cambridge Institute for Sustainability Leadership (CISL). The eight-week online course brings together business professionals from all over the globe and is designed to address the growing and urgent need of sustainability practice in business.
Below are some of my key takeaways from the course:
1. Challenge the way you think
In 2015, CISL first released a ten-year action plan, Rewiring the Economy to lay the foundations for a sustainable economy. The course built on this, and as someone with a background in economics, it challenged traditional approaches to problem solving and my own way of thinking.
The sustainability issues we face today are the result of the way we lived and worked historically. They cannot be resolved by carrying on as we are and whilst breaking the mould can feel uncomfortable, especially in a business context where it may be challenged back, it is also the root of sustainable change.
2. Don't go it alone
Sustainability challenges are systemic and complex in nature. A recent United Nations Global Compact-Accenture study highlighted that 93% of 2600+ CEOs are navigating their organisations through ten or more simultaneous sustainability challenges.
The course highlighted the importance of collective power. Whilst business leaders are in a position of power and responsibility to implement change, they need not go down this path alone, nor may this necessarily be the most impactful way to tackle interconnected problems.
Business leaders should lean into opportunities to collaborate within their organisations across divisions, and work with other organisations, policymakers, and investors to both innovate and implement solutions.
Ensuring business leaders form the right types of partnerships, and knowing when to re-evaluate them, is equally as important.
3. Practice what you preach
Transparency and accountability were key themes of discussions within the course. Whilst it is positive that an increasing number of businesses are implementing strategies to combat sustainability challenges, we don’t have to look far to know that greenwashing remains common and present.
More recently cases of ‘greenhushing’ have also been reported, whereby companies looking to avoid greenwashing accusations are opting to not communicate their sustainability plans at all, with progress towards targets happening in silence.
Whilst neither of these practices may come from a place of malicious intent, both contribute to a lack of transparency. And as regulatory requirements such as TCFD and CSRD continue to develop, organisations will increasingly have to communicate externally. It is therefore vital that businesses action what they are targeting, and accurately report on this, or they will inevitably face the consequences of external scrutiny.
4. Continue to learn and adapt
The World Economic Forum’s 2023 Global Risk Report highlights a significant difference in the expected composition of key risks our world faces today, versus in ten years’ time; with the four most severe risks identified all expected to be environmental by 2030 (Figure A). Whilst this assessment is in part due to the long-term structural nature of environmental issues, and as such the relative severity of social, economic, and geopolitical risks may become more apparent closer to the time, it does highlight that the world we live in and the sustainability challenges we are facing are constantly evolving.
Tackling an everchanging landscape effectively requires rigour, humility, and agility from organisations and their people. Business leaders should not be disheartened by this, but rather disciplined and patient in their approach.
As a consultant advising businesses on their global sustainability strategies, this course provided me with a valuable opportunity to re-engage with the subject matter in a new way. Continuously seeking out opportunities to learn, share knowledge and subsequently adapting strategies can make a crucial difference for business leaders too as these navigate these problems.
If you would like to learn more about CISL's online course offerings, please visit their website here.
By Sarah Smit
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