In this blog, we provide a comprehensive recap of the event. Discover key takeaways and valuable insights from their webinar as we delve into profound discussions surrounding sustainability for business.

The Three Key Drivers of Sustainability

The webinar focused on the three main business drivers for sustainability: legal, moral, and commercial. Our partners uncovered how these drivers are compelling businesses to incorporate sustainability into their daily operations.

Legal Driver

The legal imperative for sustainability was evident in the session, where it emerged as a significant business driver for attendees, alongside carbon reduction, winning bids, and brand reputation.

But why?

For the UK, the 2019 Amendment to the country’s Climate Change Act mandates that the UK must reduce their total greenhouse gas (GHG) emissions to net zero by the end of 2050 and at least 50% by 2030 (which is only eight years away). This legislative push is undoubtedly influencing how businesses shape their sustainability strategies and operations.

Beyond this, regulations such as Streamlined Energy and Carbon Reporting (SECR), International Financial Reporting Standards (IFRS), and Corporate Sustainability Reporting Directive (CSRD) are increasingly affecting thousands of businesses by making carbon reporting a legal requirement.

Moral Driver

The moral imperative to address the pressing issue of climate change stands as a significant force within the business community, propelling numerous individuals towards proactive engagement and meaningful action.

During the webinar, this moral imperative took centre stage, with the results of an in-session poll unmistakably highlighting reducing carbon footprint as a primary driver for embracing sustainability.

Across the board, attendees felt a shared sense of a responsibility to tackle the climate crisis and safeguard the well-being of present-day and future generations, ensuring that their ability to flourish remains unaffected by climate change.

Commercial Driver

Now more than ever, business leaders understand the return on investment (ROI) in having a sustainability strategy in place. For example, in 2023, 63% of global executives agreed that the business case for sustainability is clear, tripling from the previous year's survey. Opportunities such as retaining talent, winning bids, and reducing operational costs can be boundless for businesses that truly embrace sustainability.

Supporting 800+ businesses on the road to carbon reduction and net zero, our partner Planet Mark has witnessed first hand how prioritising sustainability can support businesses achieve their commercial objectives.

A recent example of this is their collaboration with Fooditude, through the efforts of Planet Mark’s Clean Energy Sourcing experts, Fooditude secured a price that was 15% cheaper than their original offer for a renewable tariff. With Planet Mark’s support, Fooditude saved time and money while ensuring that 100% of their electricity was sourced through clean energy, reducing the caterer’s dependence on fossil fuels.

Conclusion

The business case for sustainability is stronger than ever; businesses that integrate sustainability contribute to a better world and unlock competitive advantages, cost savings, and increased stakeholder loyalty.

As we collectively strive for a more sustainable future, insights like this offer practical guidance for getting started on this transformative journey.

If you are looking to start your sustainability journey, our partners are here to help. Planet Mark is an internationally recognised business certification and trusted net zero provider. Get in touch to embark on your sustainable business journey today.

 

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