Responsible Asset Owners Global Symposium

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IPCC, Bees, Sunflower, Relationships, WaterBear

Giles Gibbons
Founder and CEO, Good Business

Wilful Ignorance

On Monday, the IPCC published the third and final report from its latest review of the state of the climate. Like previous reports, this latest publication represents the combined efforts of hundreds of scientists drawing from thousands of research papers over the course of several years.  

It’s a shame, then, that the world is ignoring it.  

There’s a lot going on in the news right now. But our willingness not to engage with increasingly dire warnings about the state of the climate is a problem that needs to be solved. If the IPCC reports – offering the most conclusive evidence that we need to act now – can’t grab our attention, then we need something that will.  

Part of the problem might be that as a species we’re just not biologically wired to respond to slow moving threats like climate change. But it is also about how these reports are communicated. Headlines which bill each report as the most damning yet – while entirely accurate – are contributing to a collective climate complacency. That’s not to say that we shouldn’t continue to talk about the exceedingly serious implications of climate change in the most factual manner. But there remains a substantial gap between the significance of the IPCC report’s findings and the attention we pay to them.  

Who can fill this gap? Media outlets, for one, through journalism that focuses on translating these reports into meaningful action for individuals (we particularly like this example from Greenpeace). Businesses, as another, who very much are wired to think about long term threats and who could play a bigger role in engaging their customers in the IPCC’s findings.  

And finally: ourselves. We need to stop scrolling past climate warnings in our newsfeed and instead take the time to properly engage with the messages we’re receiving – scary though they may be. It goes without saying that the alternative is scarier.   

Beehind the times

Just when you thought the days of outdated and slapdash sustainability strategies were behind us... Sports Direct latest campaign ‘Save the Bees’ provides a sage reminder of how not to handle social marketing.   

We’ve said it once and we will say it again. Plucking an issue out of the air isn’t the way to make a vehicle that can be really powerful for brands and the world work.  

It’s not to say that protecting bees is a trivial matter. They are vital to UK and global ecosystems and contribute to the pollination of £690 million worth of UK crops annually. If you’re genuinely interested in learning more about how you can protect bees, we recommend you check out some of the resources developed by the WWF and Wildlife Trust

Without wanting to come across as too cynical, it’s important to recognise why campaigns such as this fall short, in the hope that other brands will take note. After all, does anyone know the link between budget plastic football boots and bees? No? Well, nor do we, and apparently nor do Sports Direct.  

Of course, as business, you can’t solve everything, so campaigning for a specific cause makes sense. But it’s so important to focus your efforts on issues that speak to your values as a business, your staff, and customers. Find the point of connection between what you do and what society needs and dig deep. In our experience, this is the only way that you can really drive change. 

Also, we can’t help but wonder about the environmental impact of these limited-edition ‘Save the bees’ products – particularly the £1 mug - and the social conditions of the workers producing them. I think we can all agree the last thing we need is more bounty for landfill – I’m sure the bees would even agree with us on this one. 

Response to consequence

Sunflowers – the national flower of Ukraine, and symbols of peace and the  power of the sun. However, the war has led to a global shortage of sunflower oil and the national flower now has deeper-rooted symbolisms: hope, resistance, and the instability of food supply chains.  

Russia and Ukraine account for 70% of the global supply of sunflower oil. As one of the most popular cooking oils and a staple ingredient in fried and baked foods, its value is clear. Walkers crisps have already changed their recipe due to shortages and local crisp-producers in Herefordshire are worried about the rising prices of the oil.   

And there are other consequences. Note Iceland’s regretful decision to substitute sunflower oil with palm oil, after their much-heralded move away from palm oil a few years ago. In a well-crafted press release last week, they notified customers of this temporary solution “as a last resort” with the use of certified sustainable palm oil clearly marked on new packaging. With links to deforestation and habitat devastation, there is a question (highlighted by the Iceland CEO) about whether palm oil can ever be sustainable, but we appreciate Iceland’s bold commitment to transparency and to talking consumers through the difficult trade-offs that businesses sometimes need to make.  

Re-introducing palm oil is not ideal for a business committed to sustainability, but it is keeping reasonably priced food in people’s refrigerators and freezers. In a time of soaring costs of living, they are able to circulate affordable products and reduce food-waste by continuing frozen-food options.  

The ongoing crisis is likely to force many other businesses to reconsider how to deliver their sustainability principles as supply chains reconfigure and evolve. These choices won’t be easy, but Iceland’s approach shows the value of clear and honest communication in building trust with audiences.  

Citizens rising

Back in 2020, we wrote about a new report by our friends at The Relationships Project, detailing the lessons learnt during 100 days of lockdown. Now, they’re back with a new report: Citizens Rising. Its focus: how Covid-19 affected young people. 

The report summarises the experiences of children and young people, as told to a panel of ‘chief listeners’. It sets out the fear, loss and isolation felt by young people during the pandemic, as well as their gratitude for the relationships that remained. And it details the unique situation of young people, who have less freedom to choose their intimate relationships, while also  tending to have weaker relationships with wider society.  

Whilst lockdown intensified the importance of close family relationships, relationships in the ‘middle ring’ (with acquaintances rather than close friends or wider society) were often cut off. Now lockdown is over, young people told adults they need the time and space to reconnect with both close friends and these broader acquaintances. And they need the infrastructure – from swimming pools to libraries – that facilitate these connections.   

Much of the child-focussed response to the pandemic has been on public services, such as catching up on lost school time. But can businesses help too? We think so. For every brand and business whose purpose is connecting people and communities, this is an opportunity to step up. Could shops aimed at young people train their cashier staff to start conversations or signpost to places that could help? Could cafes, restaurants and sports facilities do more to create bumping spaces for young people to interact – instead of deterring them from doing so

Lockdown may be over, but its effects could be felt for generations. Acting now to give young people the spaces and connections they need is crucial. We can all help.   

WaterBear

The cinephiles among you will love this week’s Goods. WaterBear is the first interactive streaming platform dedicated to content focused on improving the planet. They showcase content spanning climate action, biodiversity, community, diversity, and more. Their aim is to empower members to learn more about sustainability issues, as well as providing opportunities to take action to improve the planet. However, WaterBear are not leaving the sustainability actions to their members; they are also currently applying for B-Corp certification themselves. 

The platform is available in all English-speaking countries, on mobile app and web. It has a similar look and feel to Netflix or Amazon Prime and is easy to navigate. Better still, there are no ads and sign up is free. ‘But there’s no such thing as free!’ I hear you exclaim. Well, after some digging, it’s clear that WaterBear has four main revenue streams: integrated brand sponsorship with sustainability-focused companies (including referrals), sustainable e-commerce, ‘pay-per-view’ live events, and producing content on behalf of partners. These income sources mean the platform and content remains free for members to access, except for ‘pay-per-view’ live events.  

So the next time you fancy a bit of screen time, why not check them out? 

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