Overcoming Sustainability Fatigue: Unlocking Business Value and Learning from Diverse Industries
Friday, 16 June 2023
In today’s business landscape, companies are increasingly aware of the need to incorporate sustainability into their strategies. We have passed the “why” stage, and now need to focus on “how”. While an increasing number of companies are making voluntary sustainability commitments, the lubricant industry has highlighted common frameworks and metrics, or the lack thereof, as one of the main challenges in adopting sustainability strategies.
That said, a fundamental question often comes up: Can sustainable practices truly deliver tangible business value, and if so, how quickly and at what cost? This session aims to address these challenges by exploring the drivers and barriers associated with value creation, examining both the compliance perspective and the strategic positioning point of view. Additionally, the panel will analyze how customer and competitor actions influence the choices organizations make in the realm of sustainability. The discussion will revolve around several key points that shed light on sustainability’s role in broader decision-making processes.
• Why product carbon footprint (PCF) methodology matters beyond mere compliance? And what are its implications for sustainable practices?
• Are our current business metrics adequate for making the right and informed choices (what constitutes value)? Do we know what our sustainability claims are going to be tested against?
• Is sustainability accounting accessible to all?
• How do we move the conversation and translate high-level commitments to sustainability into actionable steps integrated into daily operations?