Now’s the time to cement your green business legacy, says Emrah Durusut, Senior Partner, Xynteo, the global environmental and social business consultancy.
Our collective environmental harm has been ongoing for a long time and across multiple generations, yet, finding solutions to reverse the damage done is seen as an essentially modern endeavor. There is a dividing line in our thinking between past and even current leaders that are often seen as culpable and therefore can’t be part of the solution, and the next generation of leaders who are seen as our progressive saviors.
But while we need a new generation of leaders who can unlock people and planet-positive growth for the many, we simply don’t have time to wait – the decisions of the leaders who are in power today will profoundly shape the next 50 years. The immense experience that resides in seasoned individuals who have spent decades navigating the complex terrains of their respective sectors will be critical to unlock a pathway that can combine growth with positive impact on people and planet.
Redefining shareholder value
As a leader, it’s clear that the pressures you face today are immense. Every CEO I speak with has sustainability on the agenda, but it’s competing with other factors that require urgent attention, such as inflation, market pressures, supply chain durability and shareholders precedence. In the face of immediate pressures, sustainability often becomes deprioritised. But the idea that financial value is the only meaningful metric that can be used to measure success is one that’s time has passed. What is the value of profit if we ruin our world for future generations? Today’s leaders don’t have to choose one or the other – there are plenty of opportunities to choose both.
For example, the Corporate Sustainability Reporting Directive (CSRD) has made it mandatory for organisations to complete a double materiality assessment; meaning leaders need to find ways to assess and balance their financial and non-financial impact on society and the environment. As well as being a regulatory requirement, we should see this legislation as an opportunity to find real value in your ESG initiatives. Whether legally or morally, critical decisions can be made that factor in societal and environmental impact as well as commercial gains.
Leaving a lasting legacy
Creating enduring transformation is not an overnight task. It requires steering the ship in the right direction and setting a course for meaningful transformation. It necessitates forming new partnerships and setting a timeline for the future generation of leaders to follow.
This is where leaders can support each other. Prioritising short-term gains won’t bring the levels of transformation we want and need. We need to find allies who support our vision and tap into the idea of legacy. Every leader desires to leave a lasting impact. Encourage your peers to use their power for good and steer organisations towards sustainable practices for their bottom line, and the planet. This is where the opportunity lies: in the legacy that experienced leaders like you can leave behind.
We can’t wait for the next, we need the now
As a senior leader, you’ve already overcome a multitude of challenges, from economic downturns to a pandemic to legislative changes. To ignore the wealth of skills and experiences this has given you would be foolhardy – and we must leverage them for impact.
We need to find those individuals who have had a significant impact on their sectors and understand why their experience and skills are the right mix for driving sustainable change. I believe that leaders who have demonstrated their skills for years are more than capable of standing up and leading the fight for sustainability.
Leading for good growth
Leadership can be a lonely role, especially in the face of such monumental challenges. As a leader, it’s crucial to understand that the way you lead and the growth you create for your organisation has a profound impact on your employees and the planet.
Big businesses are global entities, and often their projects are more impactful than government initiatives. They touch numerous supply chains and possess immense potential for influence. Take Unilever, for instance; their actions to promote plastic circularity invite an entire market to work together to change how businesses create, use, and recycle plastic.
Best in class leaders help their employees and organisations unlock sustainability-based growth by leveraging the power of ‘with’, which drives collaboration with like-minded organisations, your supply chain, your customer base and your peers. Together you are empowered to craft a new future, challenge preconceived ideas, and overcome problems that are too big or complex to tackle alone. Inspired by partners and leaders with shared ideals you can grow forward, transforming your business from top to bottom.
The outcome of these small changes is that they make ripples across organisations and communities, building your business into a force for good. By working together, you can help cement your legacy, and leave behind a positive and lasting impact on your organisation, and the planet. It’s never too late for today’s purpose-driven leaders to make a difference, to leave a legacy that generations to come will admire and use as a standard to follow.
