As global priorities shift and geopolitical tensions downplay the urgency of cutting greenhouse gas emissions, business leaders are at a crossroads. They must adapt to stay relevant and generate value, according to insights from seven industry leaders shared in a special Trellis Impact project.
Representatives from companies like Mars, HSBC, Visa, and Workday are leading the charge. Kevin Rabinovitch from Mars is confident in his approach, with emission reduction goals for 2030 on track, and has recently implemented a renewable electricity purchasing strategy. Kelly Fisher from HSBC emphasizes the need for a deep understanding of the business, highlighting the importance of financing technologies for a low-carbon economy.
The Sustainability Challenge
A major takeaway is the need to demonstrate the business value of sustainability. Kelly Fisher of HSBC insists that without this, survival is at risk. Erik Hansen from Workday urges action without seeking perfection, while Jennifer Evans from Bristol Myers Squibb warns against being seen as an external function within the organization.
Dave Stangis of Apollo Global Management advises learning everything about the company’s business levers, stressing the importance of training everyone involved.
Moving Forward Despite Obstacles
Leaders also acknowledge the intellectual youth in the field of sustainability. Rabinovitch from Mars views this as an opportunity for new ideas. However, the path to sustainable progress is not without challenges. Being well-connected within the company is crucial to creating the desired impact.
Faced with complex issues, these leaders emphasize the need for sustainability champions within the organization. These individuals provide evidence of the effectiveness of adopted strategies, thereby reinforcing their relevance and adoption.
Frequently Asked Questions
Why is sustainability crucial for businesses today?
Sustainability not only helps meet regulatory requirements but also creates long-term value for the business.
What are the main challenges faced by sustainability leaders?
Leaders must demonstrate the business value of sustainability and ensure it is integrated into the core functions of the business.
