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The Power of Sustainability - 5 Key Take-aways
PUBLISHED 19 JUNE 2024
Giving you the Power of Sustainability
On June 19th, we hosted the next essential free lunchtime webinar in the Power Hour Skills Series, The Power of Sustainability, with our guest speaker Sustainable Business Strategist Niamh Flaherty Pimentel.
Niamh shared her thoughts and insights on how sustainability and ESG considerations are becoming increasingly crucial in our interconnected world, and how organisations can build a plan to operate truly sustainably. Business stakeholders, including investors and consumers, are demanding transparency and action. But navigating the evolving requirements for sustainability reporting and implementation can be tricky.
The steps needed to create an authentic sustainability strategy are not always clear, and inspiration can be hard to find. Today's webinar helped to provide both clarity and inspiration, and Niamh shared some practical steps that organisations of all sizes can take to make progress on the road to real sustainability.
Making the road ahead clear... the challenges
Understanding complex environmental regulations and reporting, identifying reliable resources, and measuring the long-term impacts of their practices present challenges to organisations in addition to the market and commercial challenges they already face. Additionally, integrating sustainable practices can be costly and time-consuming, posing a barrier for small businesses with limited resources.
Resistance to change within the organisation further complicates efforts, as employees and stakeholders may be hesitant to adopt new methods and technologies. Balancing immediate financial goals with long-term sustainability objectives also creates tension, making it difficult to prioritise environmental initiatives.
And the opportunities
For organisations, there are many good reasons to genuinely embrace sustainability, including risk management and regulatory compliance, reputation and brand image, and competitive advantage.
We're all consumers, regardless of whether we work in the private or public sector, or even if we're retired, so we can all be aware of how we perceive brands that are making real efforts to be sustainable. The clothing brand Patagonia is a powerful example of this and their ethos is that it makes sense for us to make our own contribution to sustainability in our own community and beyond.
Even the longest journey starts with just one step - and we can take that step together.
Five Key Take-aways....
1. Sustainability can be defined as the ability to maintain or support a process continuously over time - this includes the process of measuring your organisation's impact on its environment, community and society.
2. Set up a Sustainability team within your organisation, including a team leader so your organisation's commitment and targets can be formalised - and share regular updates across the organisation.
3. Define and talk to your organisation's key stakeholders - this will help you understand and prioritise the issues which will inform your Sustainability Strategy. Engaging with stakeholders right along your value chain is imperative.
4. Start getting used to the key terms and acronyms around sustainability and ESG so it becomes part of your business vocabulary.
5. Keep an eye on some free resources that can help you shape your initial sustainability plan, including:
Carbon Toolkit for Business; Enterprise Ireland; SDG Action Manager; World Resources Institute research; Science Based Targets Initiative
Want to know more?
Get expert advice to support your organisation's journey
In November 2024 Niamh will present a specially curated Sustainability Masterclass, in association with Irish Times Training, designed specially to help you to create your organisation's Sustainability Plan. The Masterclass will include practical tips, reporting requirements and how you can set achievable goals for your organisation and people. If you'd like some more details on how to take part in the Masterclass contact us directly at [email protected] or keep an eye out for details on our website.