COP27 Progress Update, The Keys To Rethinking Corporate Social Impact Strategy and 3 Leadership Tips For Communicating Through Uncertainty
This Week In ESG
COP27 Updates
WithCOP27 reaching it’s halfway point and the world crossing a population of 8 Billion people, here are some progress from the summit so far.
Setting The Stage
The first few days of the summit started with some fiery warnings from Antonio Guterres (UN Secretary - General) to set the stage for the summit:
“Three times more people are displaced by climate disasters than war. Half of humanity is already in the danger zone,”?
"We are on a highway to climate hell with our foot on the accelerator.”
Appeals by Guterres and other world leaders are clear - the world needs government, business and communities to all work together to reduce greenhouse gases and help poorer nations deal with global warming.?
According to scientists, the amount of glasshouse gases pumped into the atmosphere must be cut in half by 2030 in order to meet the Paris Climate Accord Goals.?
UN Climate Negotiations
Climate negotiations are going a lot slower than expected as global leaders go back and forth over political points and technical details.?
The news on Monday that China and the United States have resumed climate cooperation has already boosted hopes for a positive outcome from this year's United Nations climate summit in Egypt.
Pushback against 1.5C target
Oil and gas exporting nations are among a group of significant emerging nations that have resisted explicit references and language used around the target of keeping global warming to below 1.5C.
With fossil and carbon emissions bouncing back to the highest they have ever been and scientists claiming the earth will surpass 1.5C warming early in the next decade, securing a commitment for ‘maximum advancement’ towards emissions reductions is key for negotiators.
Financial assistance to poorer countries
Climate change is expected to increase the prevalence of vector-borne diseases like malaria and dengue fever, as well as the severity of severe weather events. It is likely to cause an increase in water levels and severe flooding, as well as water scarcity in arid regions. Some natural resources and ecosystems are expected to suffer irreversible damage as a result of climate change.?
Overall, climate change is expected to have a devastating combination of negative consequences for the world's poor, due to geography and low income, making adaptation much more difficult. While developing countries have contributed the least to the problem, they are expected to bear the brunt of the consequences of climate change, which threatens to jeopardise many of the world's most vulnerable populations.
Unfortunately, rich countries have fallen short of their pledge to mobilise $US100 billion ($149.5 billion) in climate finance for poor countries by 2020. This has created a schism that negotiators are hoping to bridge with new pledges. As needs are increasing,?a new and higher financial assistance target must be set beginning in 2025.
Rethinking Corporate Social Impact Strategy
At a time where the labour market is tight, skills are in short supply and company cultures are in a state of flux following Covid 19 and inflation continues to climb, innovative thinking and strategy are fast becoming an organisational leader’s most prized trait. When pushed to do away with the status quo, organisations proved they could innovate incredibly effectively during the Covid 19 pandemic.?Cork-screw thinking as Winston Churchill once termed the trait is in many ways what allowed us to respond effectively to the rapidly changing environment.??
So how do we maintain this innovation mindset? Perhaps there are lessons that we can learn from outside the four walls of the building?
Biomimicry is the practice of learning from and mimicking the strategies observed in nature to help solve human challenges. Steve Jobs once said “biggest innovations of the twenty-first century will be the intersection of biology and technology”.?
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An example of biomimicry in practice can be seen through observing swarming behaviour in nature which requires all individual creatures to act independently but think and move as a collective to protect themselves from threats in their environment and navigate a fluid terrain. An application in drone technology is being developed to support search and rescue operations, whereby each drone operates independently to navigate the terrain and record unique data points feeding that information to the rest of the collective while moving in constant coordination with the collective.
The question for social impact strategy then is, can biomimicry add value to the field of innovation of corporate social impact??
S&P Global loosely considers ‘S’ issues to fall into three buckets:?
I suggest that when we consider these ‘S’ issues, there are many lessons from social interaction observed in nature that can be applied to improve organisational culture to optimise business performance.?
Think:?
·??????What do we observe in nature that drives the performance of the collective??
For example; when tens of thousands of Wildebeest migrate over hundreds of miles, they do so both day and night, despite having poor hearing and eye sight. Is there an application for leaders moving their teams into unknown terrains in a coordinated manner??
It is this out of the box thinking that we are far more accustomed too, but will be continue to be demanded of organisational leaders to navigate the challenging social, political and economic terrain of the next few years.
This Week In Leadership
Communicating Through Uncertainty
As the global recession looms and uncertainty rises, it can feel like a never ending rollercoaster for teams and for leaders. Uncertain times are an opportunity for leaders to flex new leadership muscles, sprint into the fog of the unknown and rise to new challenges. To do so, new leadership styles must be adopted. Through times of adversity, effective leaders stand out for their empathy, transparency and humility.
The best ways to express these skills is through effective communication.
Communicate Clearly, Simply and Frequently - Priority should be given to ensuring employees feel safe and empowered to be bold.?Keep messages simple, to the point, and actionable when communicating critical information to employees.
Candor Wins - Trust is more important than ever during a crisis. Those who fail to establish trust quickly in times of crisis lose the trust of their employees.
Be honest about where things stand, distinguishing clearly between what is known and what is unknown, and avoid minimising or speculating. Give people a behind-the-scenes look at the various options you're considering, and include stakeholders in operational decisions. Healthy conflict is essential; keep egos to one side and avoid taking things personally.
TIP: Positively framed information is more likely to be remembered; negative information can erode trust. Instead of "don'ts," frame instructions as "dos" (best practises and benefits) rather than "don'ts" (what people should not do or debunking myths).
Build Resilience - Emphasize the positive by sharing stories and creating uplifting moments to rekindle resilient spirits. Create a team highlights page and open forums for people to express where they have seen act on company values.?
Additionally, strengthen teams bonds to restore trust. Helping others is an excellent way to boost one's self-esteem and reduce stress. It is also critical to rebuild a sense of common social identity and belonging based on shared values, norms, and habits.
Quote of The Week
“Our need will be the real creator” – Plato??
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