Into the Heat

As we step into May, we are almost at the half way mark through the year. On the cusp of summer season or fire season, we are already seeing major flooding around the world. We are not sure what the season will bring this year, but we know that summer 2023 continues to collect heat records including being the hottest summer in 2000 years .

Future forecasts continue to paint a grim and unfavourable climate picture for our world, from a climate perspective but too often many don't recognize the immense economic toll that climate change has (and will have) on business and our economy globally and locally. A series of recent reports suggest the economic toll of climate change will be much larger and spread across the globe given the interconnectedness of our economies.

“Unmitigated climate change is a lot more costly than doing something about it, that is clear,” said Wagner

Hopefully we can now agree - we need action.Not just activists who continue to lead the charge on raising their voices on the need for action on many many issues; we need policymakers, businesses (of all sizes), and individuals like you and me, to take our climate situation seriously.

These climate scientists are doing their job. They are telling us where we are, but its up to to the rest of us to decide what this moment requires of us and turn the seemingly impossible into the new normal. - Christina Figueres

It truly is about integrating sustainability into our core values, strategies, and daily practices, rather than treating it as an optional add-on. With the imminent arrival of ESG disclosures across many regions, the spotlight is on transparency and accountability. These disclosures represent a critical opportunity for companies to showcase their (honest) commitment to genuine progress and impact. In fact, many fear greenwashing growing exponentials, threatening to dilute the integrity of our collective efforts. We have already seen this trend with increasing brands being called out and many others under litigation for their greenwashing (intentional or otherwise).

It is all our responsibility as business owners and leaders to ensure that disclosures serve their purpose to open doors to transparency, rather than a guise for superficial gestures.

Although much of the news is not always 'hooray' style amazing, we are seeing more and more discourse on action, more and more capital flowing in the right directions, and more and more spotlights on the work that needs to be done. And that is really good, and makes us excited about the future innovations and collective impact we can have together.

Fuelling Impact

Climate tech has grown immensely over the past 4 years fuelling innovation and solutions to some of our most wicked problems. The investment growth has followed suite with investment across the globe building. The first quarter in 2024 alone has amassed an impressive $8.1 Billion in investments . This is a reassuring trend and an impressive come back from the flat stats in 2023 but many still ask. Is this enough? According to some like the Decarbonization channel - its not enough . We need more aggressive investments and support for the sector to make the impact we need to hit our net zero future.

They are not wrong. If the future projections of the havoc of climate change on our world and economics is even close to being correct, we need a massive redirect including exponentially investment and support of climate innovations, companies, and initiatives.

And many are continuing to push in this direction like the Canadian Impact Investing Working Group who recently released its report on Scaling Impact Investing in Canada Through Mobilizing Asset Owners . Its a great deep dive into the industry and its potential to create long term impact through capital. Its call to action is critical to moving impact to scale "It is in our collective best interests to double down on impact investing and work collaboratively to overcome the barriers that are preventing its growth."

Businesses Under the Microscope

Microsofts emissions rise amidst AI push - TechRadar

Lululemon being investigated by the Competition Bureau - BIV

Shell urged to clarify climate targets as it braces for shareholder rebellion - The Guardian

Lufthansa, Air France under a greenwashing investigation in Europe - Euractiv

EU finalises investment fund labels to combat greenwashin g - Reuters

As greenwashing soars, many question B Corp certification - BBC

Unilever rethinks its esg targets (for better or worse) - Sustainability Magazine

Sustainability certifications can't fix fashions broken system - Vogue

How to market your sustainable brand - HBR

Banks are cooling their climate change promises - Bloomberg

Some Great Longer Reads (Listens)

How rich is too rich - Nature

How workplace diversity fails Indigenous Employees - Walrus

Patagonia is cracking the code on endlessly recyclable wet suits - Bloomberg

Millenial and Gen Z Survey Report: Living and working with purpose in a transforming world - Deloitte

On Journalism, Activism, and Hope - On with Kara Swisher

Higher Ground: How business can do the right thing in a turbulent times - HBR

Even the sharks are looking to make an impact - maybe....

From Ideas for Impact

Overwhelmed with what to do about strategy or ESG?

We are always here to support teams commitment to creating change. If you need support on building your impact aligned strategy, ESG plan or your impact methodology.

We are here to support - book a strategic meeting here. We are currently booking our engagements for Fall 2024 so get in there and lets make impact together!