In a new white paper, “Navigating Change: Delivering Sustainability Value in a Volatile World,” it provides guidance for building resilience and driving growth. This comes amidst geopolitical, economic, and societal turbulence.
The paper outlines how companies can deliver sustainability progress. It also addresses adapting to shifting global dynamics. These include fragmented regulation, supply chain disruption, and accelerating climate and nature risks.
Key Recommendations:
- Prioritize critical issues: Companies should focus on climate, nature, and material social issues. These present significant commercial and societal risks and opportunities.
- Find overlaps: Identify where sustainability challenges align with other strategic priorities. This benefits companies.
- Adapt without sacrificing values: Senior business leaders need pragmatism and steadfastness. Progress, not perfection, determines success. Understanding sustainability’s commercial benefits and risks is vital. This includes its interaction with supply chain security and geopolitical navigation.
- Reframe the narrative: Shift sustainability narratives from “planet-saving” to “business-critical.” This highlights how sustainability enhances value creation, stability, innovation, and resilience.
- Strengthen collaboration: Reverse the trend of companies leaving collective sustainability alliances. This collaboration within and across value chains acts as a bulwark against challenges.
Sabine Hoefnagel, ERM’s Global Leader of Sustainability & Risk, commented on the launch. “Council members’ deep expertise comes at a critical moment,” she stated. “Instead of scaling back efforts, the Council advocates for embracing market complexity.” She added that companies focusing on climate and nature risks will be best positioned to thrive. This includes aligning sustainability with commercial imperatives like energy security, supply chain resilience, and innovation.
