Why Innovative CEOs Are Doubling Down on Sustainability: The Case for Bold Climate Action
The impact of global warming is no longer a distant worry—it’s here, affecting us all. We know that to keep our planet liveable we need to halve greenhouse gases emissions every decade, and build a nature-positive world by 2030.
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While many see this responsibility as the job of governments, we need an all-of-society approach in which businesses and individuals have an important role to play. We’re already seeing positive momentum as awareness rises. In 2023, a survey found that 73.6% of adults in Great Britain have adjusted their lifestyle to help address environmental concerns. Companies, too, have been stepping up, with an unprecedented wave of net-zero pledges, concrete action to meet their commitments, and growing recognition of the links between climate and biodiversity.
And this isn’t just a movement among large corporates. Thanks to initiatives like the SME Climate Hub, thousands of small and medium-sized businesses have committed to science-aligned climate targets and have access to practical tools and resources that can support them in aligning their growth with climate goals. But there’s still much more to do and now is the time to go further faster.
The trillion dollar opportunity CEOs can’t ignore
While these steps are encouraging, sustainability is increasingly competing with other boardroom concerns. A recent Bain & Company report shows that consumers and corporate buyers are prioritising climate-conscious choices more than ever. Yet, the same report warns of a growing risk of sustainability being crowded out by other boardroom concerns, from inflation to global instability. The 2024 World Economic Forum Global Risk Report highlights the sheer volume of issues demanding CEO’s attention, leading many companies to backtrack on their sustainability commitments, citing high costs, complexity, and aggressive timelines.
Now is not the time to ease off—this is the time to accelerate. The UN Secretary General’s High-Level Panel on the Sustainable Development Goals has identified that there is an opportunity to unlock $12 trillion of economic value and create 380 million jobs over the next decade if we achieve these goals. So sustainability is not just a moral imperative; it’s a massive business opportunity that can drive growth, innovation and resilience.
Forward-thinking businesses that align with this shifting landscape will be well positioned to meet rising demand, and reap the rewards of the competitive advantage they will have created. Sustainability isn’t just a virtue signalling exercise or good Public Relations—it’s smart business.
Profitable solutions aren’t just possible; they’re essential
While the challenges of sustainable transformation are real, the cost of inaction dwarfs the investment in sustainable action. Forward- thinking leaders are now realising that moving beyond commitments and following through with measurable impact is not only achievable, but is a chance to breakaway from the competition.
Today, impactful solutions exist that blend environmental progress with business goals, proving that sustainability and profitability can go hand-in-hand. These initiatives are not far-off ideals but are practical, profitable steps businesses can take today.
In finance, for example, solutions that offer real-time carbon insights are empowering consumers to support vetted environmental projects with every transaction. Green bonds, sustainable investment funds, preferential loans for businesses embracing sustainability, and other solutions are already driving change.
Adopting these solutions has never been more critical and never been demanded more. As the effects of climate change become increasingly visible in our daily lives, the time for action can no longer be delayed. Companies that recalibrate their approaches to meet sustainability goals head-on will not only weather these challenges but will build resilience and stand the test of time.
While many see this responsibility as the job of governments, we need an all-of-society approach in which businesses and individuals have an important role to play. We’re already seeing positive momentum as awareness rises. In 2023, a survey found that 73.6% of adults in Great Britain have adjusted their lifestyle to help address environmental concerns. Companies, too, have been stepping up, with an unprecedented wave of net-zero pledges, concrete action to meet their commitments, and growing recognition of the links between climate and biodiversity.
And this isn’t just a movement among large corporates. Thanks to initiatives like the SME Climate Hub, thousands of small and medium-sized businesses have committed to science-aligned climate targets and have access to practical tools and resources that can support them in aligning their growth with climate goals. But there’s still much more to do and now is the time to go further faster.
The trillion dollar opportunity CEOs can’t ignore
While these steps are encouraging, sustainability is increasingly competing with other boardroom concerns. A recent Bain & Company report shows that consumers and corporate buyers are prioritising climate-conscious choices more than ever. Yet, the same report warns of a growing risk of sustainability being crowded out by other boardroom concerns, from inflation to global instability. The 2024 World Economic Forum Global Risk Report highlights the sheer volume of issues demanding CEO’s attention, leading many companies to backtrack on their sustainability commitments, citing high costs, complexity, and aggressive timelines.
