5 must reads for your weekend

We keep an ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.

1. “Green is my least favorite word.”

Sounds odd coming from EY New Zealand’s director of climate change and sustainability, Gerri Ward. But like so many others, she’s tired of companies using “greenwashing” terms to portray their operations as more eco-friendly than they are. Framing a particular carbon neutral label on the product and using meaningless buzzwords to target eco-conscious customers, is far from being green – and it’s a tactic that’s becoming increasingly risky for brands. Ward and others worry that underneath a sustainable facade, far too many companies are still doing far too little about reducing their carbon footprint. So, how have businesses got away for so long, doing so little for the environment??

When green is a dirty word?

2. A digital facelift for Royal Caribbean?

Amusement parks, casinos and airlines have been offering mobile check-in and bespoke apps to customers for years, so why not offer the same experience to holiday seekers on board cruise ships? Royal Caribbean did just that – and more. Guests can now use an app to check in using facial recognition, order a pi?a colada and book a range of activities from ziplining to ice skating. Behind the scenes, teams of EY and Royal Caribbean technology, digital and business professionals worked together to create this uninterrupted digital experience, whether it was onshore through fiber optics, or through satellites while at sea. This digital transformation journey is a win-win; guests can now enjoy their adventure their way, while new in-app purchases create opportunities for more profitable growth.?

How digital transformation opened new channels for growth?

3. ?Saw-toothed economic recovery

V-shaped? U-shaped? L-shaped? There is no shortage of potential trajectories for the world economy post- pandemic. But we see something different; a saw-shaped recovery based on the assumption that no widespread effective treatment will be found for COVID-19 in the next 18 months. “While spikes in infections remain highly likely, the full national lockdowns that have brought economic activity to a standstill are less so,” says Patrick Winter, EY Asia Pacific Area Managing Partner. "The net result will be varying rates of growth for sectors and geographies, with periods of acceleration offset by setbacks.” So, what can businesses do to prepare for this uneven, saw-toothed economic recovery??

COVID-19: Which critical choices should businesses make next?

4. The new frontier of climate change: Supply chains??

Remember when parents could not find baby formula, hospitals ran out of respirators and car manufacturers stopped production due to chip shortages? The pandemic, geopolitical conflicts and weather events have certainly kept supply chain disruption at the forefront of the news in recent years. Reliable supply chains are not only crucial to boost resilience at times like this, they can also be a game-changer for businesses aiming to achieve organization-wide sustainability goals and public commitments. According to the US Environmental Protection Agency, supply chains account for more than 90% of an organization’s greenhouse gas emissions. As they make up such a large proportion of operations, supply chains are where an organization’s environmental commitments can move from ambition to action. We asked 525 large cooperations about their sustainable supply chain practices; their responses reveal how building supply chain sustainability, can increase revenue and reduce operational risks.?

How sustainable supply chains are driving business transformation

5. Taking the bull by the horns

It’s no surprise to learn that businesses worldwide are facing a perfect geopolitical storm. Rampant inflation, geopolitical tensions and the shadow of the COVID-19 pandemic are just some of the critical challenges keeping CEOs up at night. But our survey of more than 750 CEOs reveals that business leaders are tackling this disruption head on. 43% are delaying investments, 40% are transforming supply chains and 39% are relocating operational assets. Furthermore, 95% of CEOs will invest to fight off the triple threat of inflation, war and climate change. In this new world emerging before our eyes, CEOs are standing strong.?

The CEO Imperative: How to remain resolute on investment as inflation surges

If you do one thing:?

Learn from your mistakes. It’s just as valuable, if not more, than learning through training.?

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