Australia's Top Companies Falling Short, ASIC Takes First Action Against Greenwashing and Compassion as the Cornerstone Of Leadership
You're Invited
Apricot will be hosting our inaugural Scaling Up Social Procurement Summit - a free event with the purpose of connecting both business and government so they can start and grow sustainable and social partnerships focused on making a meaningful impact in their local communities.
Apricot would like to invite you t join us in Adelaide in person, to hear from our expert panel on the benefits of leveraging your supply chain for impact, and how to go about it.
NOTE: Don't worry if you're not in Adelaide, the summit is coming to every state in Australia.
Click here to see more about our great panellists.
This Week In ESG
Australia's Top Companies Are Falling Short
The Australian Council of Superannuation Investors (ACSI) has released a report that evaluates ASX200 companies' publicly reported net zero and absolute emissions reduction targets, as well as the extent to which these targets are aligned with each company's 1.5°C trajectory.?
According to the research, ASX200 companies are not doing enough to help limit global warming by 1.5°C. The report showed that based on current commitments, there will be a 36% overspend of the ASX200's 'carbon budget'.
The Climate Works research centre found that the net-zero and emission targets of 187 companies in the ASX 200 were largely not in line with a 1.5°C trajectory and only nine per cent of companies deemed to have 1.5°C aligned targets. Only 12% of companies have target covering all of the applicable scopes (Scopes 1,2 and 3).
What We Think: It's great that so many of the ASX200 companies have net zero ambitions, it is important that these ambitions are science and data backed, accounting for all emissions and including implementation of short term and medium term reductions. The reality of it is, the earlier that action is taken the better. As mentioned by ACSI chief executive Lousie Davidson, 'we cannot wait until the eve of 2050' to start cutting emissions'.
No business or government is big enough to tackle climate change alone, so it important that we all take the necessary steps to collaborate, communicate and gain clarity on limiting global warming.
ASIC Takes First Action Against Greenwashing
Energy company TLou Energy Ltd (Tlou) is the has been fined $53,280?to settle four infringements of greenwashing . It was found that two statements and two diagrams were found to be misleading or false as at the time of publishing, Tlou did not have a reasonable basis to make these claims.
The infrigement notice notes that Tlou had not:
What Does This Mean: This is the first action ASIC has taken against a company for greenwashing, but with this first action ASIC has made a statement that all companies have are on notice and must start take the steps to ensure that any claims made are in fact accurate and above board. All sustainability and green claims must be supported if they are to be used as part of the value proposition of a company and/or its products/services.
This Week In Leadership
The Cornerstones Of Leadership: Compassion and Care
领英推荐
Research shows that 91% of leaders believe that compassion is a foundational element of leadership, but 80% of this group don't know how to grow in this vital skill. Building compassion is a skill and therefore it is something anyone can do - you just need to the tools.
What is a compassionate leader:
Compassionate leaders recognise that employees are individuals as well as vital members of your organisation. Compassionate leaders connect on a deeper level with their team. They want to understand their team's requirements and provide the assistance they require to do their jobs well. They are fundamentally servant leaders who understand that in order to achieve a purposeful mission, you must inspire others to follow you.
Compassionate leadership?doesn’t mean enabling bad behaviour. It doesn’t mean avoiding bad news and negative feedback because you want to avoid conflict. While it may be easier for you, it only enables bad behaviour and sets others up to fail – the opposite of being compassionate. Compassionate leaders set high standards, leading by example and help others also lift to the standards that are set.
Instead of asking 'what's in it for me?' compassionate leaders ask 'how can this be made better?'
How To Have Compassion as A Leader
Listen - Great leaders communicate effectively. It has nothing to do with public speaking or selling. Deep listening is the first step in communication. Deep listening can be practised by making eye contact, providing nonverbal feedback, using affirmative body language, and focusing on the conversation. This compassionate leadership principle assists you in gaining the trust of your team and determining how you can help them feel more fulfilled at work.
Learn - Recognising that you don't know everything is one of the first steps towards compassionate leadership. Your team, organisation, and the people in your life all have unique experiences from which you can learn. Don't make the mistake of dismissing new ideas or assuming you can't do anything else. Always seek feedback and treat others as the intelligent individuals that they are.
Be Present - One way to be present is to seek feedback: Ask thoughtful questions and pay close attention to the responses. Dealing with problems with your team demonstrates that you value and care about them. Simply being present can help you improve your leadership skills.
Show Gratitude - One of our favorite practices is showing gratitude. It lets people know that they are valued, and significant. showing your gratitude for your team can inspire them to work harder and be more innovative.?
Podcast Recommendation
So What Sustainability?! by Apricot Consulting explores leading trends and provides practical advice about Environmental, Social and Governance issues and opportunities facing businesses and society.
In this episode, ?James McHugh, Head of Corporate Social Sustainability at?Apricot, interviews?Alexandra Monson Group Manager of Sustainability at?Ventia,?discuss building climate resilience in companies.
Quote of The Week
“As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” - John F. Kennedy
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