Impact Brief: The Fight for the Planet – Can We Balance it all?
'Tis the Season for Giving but what will you give up for a cleaner planet? As we launch into the heaviest consumption season of the year a recession and the effects of consumption loom over all of us. We are seeing shifts in the narrative as small and impact-focused companies compete for a portion of the spend, the focus is on support, greater impact, and ultimately gifting with purpose. This a message we can definitely get behind. But the balancing act is real, not just the terms of ESG for business, but making sure we take a holistic approach to building our future that is not driven by profit itself or ego-maniacal billionaires who throw tantrums wilder than a hangry toddler. It is definitely in this balance that we have to envision our future and hold others accountable to meet its needs while recognizing that everyone has a role to play in its creation and mobilization.
While we grapple with our own sustainability realities, the global stage is noisy as COP27 leaves behind a legacy of increasing corporate sponsorship, oil lobbying, and lack of diversity. But wait we are not done yet, just on the horizon is COP15 on Biodiversity in Montreal starting in just 2 weeks' time focused on halting and reversing nature loss. Why do you ask this matters to business? Well, business is likely responsible for a significant portion of this impact just think about 'overexploitation, pollution, fragmentation, unsustainable agricultural practices, and Indigenous rightsholders, and the list goes on. It will be an important one to watch.
Last Call for Climate Action UNEP
“Together, let’s not relent in the fight for climate justice and climate ambition,” said the Secretary-General in his closing message at CO27. “We can and must win this battle for our lives.”
Antonio Guterres Secretary General UN
COP27 Recap of the Recaps
$2 Trillion annually to adapt to climate change impact. That is the estimated cost for developing countries to adapt and change infrastructure by 2030. This was also one of the major negotiation points at COP27 - who pays for climate change? As the impacts of capitalism and consumption literally consume our planet who is responsible to pay the bill?
Albeit there was plenty to criticize and lament about at COP27 there were definitely some moves that could be called wins for the gathering, especially the final agreement to establish and mobilize a breakthrough Loss and Damage Fund. However, the event and negotiations were eerily overshadowed by corporate presence, sponsorships, and lobbying.
Since we were not there in person we relied on great reporting and access to the event across channels. Some of our favorite recaps definitely worth reading if you want to catch all the stories and understand the major negotiations that took place:
World Still on Brink of Catastrophe by The Guardian
What happened at COP27 by The Economist
Climate Talks: What Succeeded, What Failed, What's Next by Nature
5 Key Takeaways by BBC
Impact News and Reports Worth Your Time
Sustainability is the skill for the future
Closing the Sustainability Skills Gap by Microsoft
Forget coding and web3 - sustainability is the skill we need for a greener future.
While most businesses realize they need a sustainability strategy and an ESG approach few have the internal skillsets on their team to meet those demands. Microsofts' new report highlights what they call the sustainability skills gap. And it is so evident as companies don't have the skills to move forward on their own but as stated in the report 'talent development can drive the sustainability journey.' This is not only a great opportunity for employee upskilling but also a new form of internal engagement that is not reserved for the sustainability team but a general education and sustainability fluency across the workforce. Dive into the report.
New Research Indicates Awareness but Limited Action in the Face of Climate Change
A World in Balance Report
“Many companies understand the sustainability mandate, but organizations need to align on a clear strategy and short-term objectives to deliver concrete outcomes that will enable society to live within and not beyond the planetary boundaries,” says Cyril Garcia, CEO of Capgemini Invent.
Manifest Climate’s Disclosure Benchmark Review
Our favorite disclosure resource in Canada Manifest Climate just released their latest Disclosure Benchmark. A comprehensive review of the private sector climate disclosures across '3,000 companies in 65 countries.' The review found that a fairly significant portion - '66% had some TCFD alignment' however, during the deeper review it was found that 'only 49% of their disclosures were decision-useful. Meaning while we are ticking the boxes they are not necessarily translating to better decision-making and long-term impact. Highly recommend reviewing the review and following for more disclosure news.
Mental Health a Massive Driver for a Better Tomorrow
Something we rarely talk about in the context of climate change is the importance of mental health and its role in enabling us to survive and thrive in the face of disaster and challenge. This is just as important at the individual level as it is at the community level and certainly is at the business culture level. 'Failing to invest in the community and national systems that strengthen mental health and emotional resilience risks creating a vicious cycle whereby people are less able to cope with and adapt to the impacts of climate change and thereby become increasingly vulnerable and less resilient when faced with further negative impacts.' Will your business commit to supporting mental health for your team in the face of adversity? Read more about the work her.
State of Social in ESG
The social in ESG is just as important as the other two. Argyle and ESG Global Advisors release a report exploring the many facets of 'Social' and how it shows up across your business and the supply chain. Read the resource here.
The Climate Crisis explained in 10 Charts.
If you need visuals to explain climate change at work or just to your family this holiday season look no further than here. From the rapid increase of CO2 to Deforestation to rising sea levels The Guardian has captured our need for visualization of what is sometimes so hard to comprehend and in particular the speed of that change that has occurred. Our go-to chart is the CO2 emissions from fossil fuels and the starkly clear effect on those emissions when we just stop commuting. There is no arguing with facts.
Role of Social Justice and Action in Business
In this B Lab Forces for Good Podcast sits down with Kubasu Agapeters, Veena Harbaugh, and Brigitta Nemes to discuss the tactical actions businesses can take to move towards meeting goals and creating meaningful action. They also talk deeply about the role that social justice has in climate action, and as a result that businesses too can play a role in social justice as part of their sustainability action. Listen here.
Best Impact Job Board
If you are seeking a new role in sustainability or are curious about what is out there across the globe this job board curated by Reconsidered will be essential.
Startups Saving the World
Startups Need an ESG strategy too
It's never too early to start thinking about the components of a good sustainability strategy. We are loving that everyone is starting to catch on that ESG is not just for mature companies or multinationals. Everyone needs a strategy to adapt to the climate and meet the needs of this changing world. Follow us for more on that and make sure to read this Harvard Business Review article.
Climate Startups Need Capital
Building a startup that tackles global challenges is not easy - it requires capital and resources. But how do you even go about attaining capital these days? Basecamp has got you. They have put together a fabulous resource of advice from an incredible list of impact investors.
Building for a sustainable future
We know building businesses in the time of climate change isn't easy but it is more than feasible and soon required. If you are on the path and need support to build a sustainability strategy, expand your impact, or need strategic advice as a startup - don't hesitate to reach out.
