Giles Gibbons

Good Business - Sustainability | Strategy | Impact

March 31, 2023

1. Where do we go from here?

As consultants, our job is to inspire our clients to take transformative action to reduce climate change, and show them how to get there. We build strategies to help companies achieve net zero by 2050. We develop science-based targets limit global heating to 1.5 degrees. We try to encourage everyone to go further and faster, but we also talk about “sustainability journeys” and “taking the first step”.

But as we sat at our Friday 5 meeting discussing the latest IPCC report, we felt stumped. Not because the report tells us much – in broad terms – that we don’t already know. Not even because it reiterates the agonisingly slow pace of change on what needs to be a thunderbolt of transformation – with government emissions reduction pledges made since COP26 predicted to lead to cuts of less than one per cent of projected 2030 greenhouse gas emissions. But because the most credible climate change body in the world is stating that even in the very best case scenario, keeping to the 1.5 degree target looks nigh on impossible without a complete transformation of our economies and societies – and that only this can save us from accelerating climate disaster.

And this raises some big questions. What does it mean to talk about net zero by 2050 when the world is on track to reach 1.5 degrees by early 2030 – triggering irreversible climate tipping points like the release of heat-accelerating methane from melting permafrost and the melting of arctic ice sheets? How can we make plans for thirty years into the future when, last year, a third of Pakistan was underwater and over 20,000 people in western Europe died from heatwaves? Should we refuse to set net zero targets for any later than 2030 (many companies could go net zero now) or switch our attention to adaptation, recognising the seismic damage that is already locked in?

We don’t know. But we do know that every fraction of a degree of heating we avoid will avert enormous amounts of suffering. We know that people all over the world care deeply about protecting nature and creating a world that they and their children can thrive in. And we know that cutting emissions as fast as possible – and faster – is still good business. In fact, it’s the only kind of business that can survive. 

2. Plastic Promises

We all know change is tough, and it gets harder once the easy wins are ticked off. This is even more true when you are trying to change something that is unbelievably good at its main job but comes with other negative consequences – in this case, plastic! It is versatile, cheap and above all durable but its very durability is what makes it so bad for the planet.

And despite the increasing number of companies making commitments to reduce plastic waste, a recent ‘Plastic Promises’ report by Ubuntoo, an environmental solutions platform, found that 90% of companies are not on track to achieve their plastic reduction goals. This highlights the need for a solution to help companies measure their progress and promote meaningful action.

Conveniently, Ubuntoo has developed a benchmarking system that enables companies to assess their performance, compare themselves to their peers and learn from industry-leaders. By creating ‘scorecards’ of company commitments to end plastic waste, Ubuntoo encourages companies lacking appropriate action and ambition to adopt the strategies and objectives of other top-performing companies.

With cross-industry data and analysis, Ubuntoo provides valuable insights for companies seeking to improve in areas such as recyclability, recycled content usage, plastic recovery initiatives and commitments to plastic reduction.

Collaboration is essential in a world where change is difficult, and Ubuntoo provides a platform for identifying and commercialising solutions more quickly than companies can achieve on their own. So, if you want to step up your plastic reduction game and become part of the solution, Ubuntoo is the ultimate platform to help you do just that. 

3. Accepting donations

As B Corp UK month comes to a close, a new door has opened for B Lab, the non-profit behind the B Corp movement, as it welcomes a $1 million donation from LinkedIn Co-Founder, Reid Hoffman, no stranger himself to the power of business networks. The donation reflects Hoffman’s belief that business is uniquely placed to lead and influence widespread change (we agree!) and the linked desire to increase the capacity of an organisation facing unprecedented demand.

B Lab has received almost 10,000 submissions for certification from businesses since 2020, a 37% increase compared to the previous three-year period. This has, unsurprisingly, led to a slowdown in the certification process, which is bad news for businesses looking to be part of a more progressive future, and for B Lab’s desire to create systemic change at scale.

It also echoes the rapid increase in demand for the validation of science-based targets by the Science Based Targets initiative (SBTi) in the run up to COP 26 and release of the Net Zero Standard in 2021, which has ultimately led to a permanent extension to the timelines of its validation services to help it to work through the backlog.

We’re thrilled that the demand for change is surging. But it’s clear that having the capacity to deliver against it is also vital. So for any investor or philanthropist looking to fuel progress, it makes a lot of sense to invest in scaling up the capacity of these engines of change for a better future.

4. Climate data for all

By now we’re well aware that the effects of climate change will be felt differently throughout the world. From the disproportionate impact on women to the heightened vulnerability of poor countries, we know that not everyone will suffer equally in a warming world.

Which is exactly why Wellcome Trust is calling for “equality of data” as the world seeks to better understand the impacts of climate change on human health. The charitable foundation has highlighted the problem - most research on climate and health has focused on high-income countries, and there are large data gaps when it comes to impacts on low- and middle-income countries – precisely the regions where the effects of climate change are felt most.

Without accurate information on how vulnerable communities are impacted by climate change, it’s nearly impossible to take meaningful action to preserve human health. Wellcome is therefore calling for a change to how we study health and climate, including a shift from large-scale, national-level data collected annually to regional, real-time data collection focused on the most affected individuals. Crucially, they also highlight how important it is that this data is then engaged with and brought into both the hands of decision makers and affected communities as well as the public eye.

It’s not just in public health that we need to consider equity in climate research. The development of adaptation technologies, too, has thus far taken place primarily in wealthier nations, yielding solutions that will not necessarily translate to poorer contexts. Many countries, for example, do not have the infrastructure or stability of government institutions to support the implementation of adaptation technologies that are developed by researchers in high-income countries. 

Climate change is a global problem, but how we are affected by and adapt to it is highly localised. In order to ensure everyone is able to do so, particularly those who have contributed least to the problem and yet feel the effects most strongly, we need to think critically about where we are directing our efforts to understand and adapt to our changing world.

The Goods: B(2b)- Corp

When you think of a typical B Corp, you may think of the B Corp certified brands that make it onto your shopping list (beer, tea bags, cereal, snacks...), or sustainability consultancies (like us!). But this week – the final week of B Corp UK Month - we want to draw attention to the world of B2B B Corps, and give a shout out to our friends, partners, suppliers and clients who provide business services driven by purpose, meaning you can live and breathe in a B Corp ecosystem every day at work. 

If you’re looking for an office space, we direct you to FORE Partnership, a real estate firm with a mission to transform the built environment into a low-carbon, sustainable one. They do this through investments that recycle, repurpose and convert buildings into future-proofed buildings and spaces. If the next step is finding employees, then you can head over to Escape the City, a forum for employers and job seekers in the impact-led world, featuring job postings, resources and courses that help people find jobs that matter to them, or Society: Global Executive Search who will find that board member or C Suite leader for your sustainable business. The Craftory - a global investor that invests in responsible brands - may provide you with investment to scale. You can heat your building through Octopus Energy, who provide heat-pumps which use 4x less energy than a boiler, while beating the average cost, clean it using Delphis eco-cleaning products which save you money, waste and carbon emissions, and pay for it all using your banking services provided by C. Hoare & Co. or Coutts. And when you have all this sorted, but your laptop just isn’t turning on, then we direct you to our loyal IT service provider Fluid IT . We’ve worked with Fluid for over 15 years, and they were one of the first certified B Corps in the UK.  

As the B Corp universe expands, make the B Corp directory your first port of call when thinking about those essential business services. With over 6000 companies in more than 80 countries, chances are you’ll find a partner there who shares your values and will help you scale your impact, fast.