The Three Key Drivers of Sustainability for Business

Welcome to the latest edition of our Do More Good Newsletter, the Planet Mark guide to a more sustainable future.

In this issue, we are excited to bring you a comprehensive recap of our recent webinar on the business case for sustainability, featuring our experts Jonathan Withey , Director of Transformation & ESG, and Amelie Trolle , Head of Engagement.

You can catch the recording of our insightful webinar here .

The Three Key Drivers of Sustainability

Our webinar focused on the three main business drivers for sustainability: legal, moral, and commercial, uncovering how they are compelling businesses to incorporate sustainability into their daily operations.

Legal Driver

The legal imperative for sustainability was evident in our webinar, where it emerged as a significant business driver for our attendees, alongside carbon reduction, winning bids, and brand reputation.

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But why?

For the UK, the 2019 Amendment to the country’s Climate Change Act mandates that the UK must reduce their total greenhouse gas (GHG) emissions to net zero by the end of 2050 and at least 50% by 2030 (which is only six years away). This legislative push is undoubtedly influencing how businesses shape their sustainability strategies and operations.

Beyond this, regulations such as Streamlined Energy and Carbon Reporting (SECR), International Financial Reporting Standards (IFRS), and Corporate Sustainability Reporting Directive (CSRD) are increasingly affecting thousands of businesses by making carbon reporting a legal requirement.

Moral Driver

The moral imperative to address the pressing issue of climate change stands as a significant force within the business community, propelling numerous individuals towards proactive engagement and meaningful action.

During our recent webinar, this moral imperative took centre stage, with the results of our poll unmistakably highlighting reducing carbon footprint as a primary driver for embracing sustainability.

Across the board, our attendees felt a shared sense of responsibility to tackle the climate crisis and safeguard the well-being of present-day and future generations, ensuring that their ability to flourish remains unaffected by climate change.

Commercial Driver

Now more than ever, business leaders understand the return on investment (ROI) in having a sustainability strategy in place. For example, in 2023, 63% of global executives agreed that the business case for sustainability is clear , tripling from the previous year's survey. Opportunities such as retaining talent, winning bids, and reducing operational costs can be boundless for businesses that truly embrace sustainability.

At Planet Mark, we've witnessed firsthand how prioritising sustainability can support businesses achieve their commercial objectives.

A recent example of this is our collaboration with Fooditude, one of our esteemed Planet Mark Members. Through the efforts of our Clean Energy Sourcing experts, Fooditude secured a price that was 15% cheaper than their original offer for a renewable tariff .

With our support, Fooditude saved time and money while ensuring that 100% of their electricity was sourced through clean energy.

Conclusion

In conclusion, the business case for sustainability is stronger than ever; businesses that integrate sustainability into their strategies contribute to a better world and unlock competitive advantages, cost savings, and increased stakeholder loyalty.

As we collectively strive for a more sustainable future, the insights from our webinar offer practical guidance for getting started on this transformative journey. You can watch the webinar recording here .

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