The main challenge facing Australia's top CEO's, $224M Commitment to Stop Extinction, The Key To Connecting Your Teams and Organisational Goals
This Week in ESG
Decarbonisation: The main challenge facing Australia's Top CEO's
Leaders of Australia's largest and most powerful businesses are getting increasingly anxious about how they are going to manage the downstream effects of Australia's newly legislated 43 per cent national emissions reduction target.
The dilemma of how companies will handle the major costs and huge supply chain complexities that comes with the new target is playing at the forefront of CEO's and boards around the country.
As policy develops and the concern around the climate growing, Australia leaders are looking for ways to take responsibility and play their part but also trying to navigate and solve the challenges that will arise during this transition period.
A survey completed by the Carbon Market Institute found that cost ranked as the No.1 barrier to decarbonisation investments for 47 per cent of respondents, overtaking the previous year’s survey’s concern of policy and regulatory uncertainty.
With carbon pricing expected to double and reach $60 a tonne in just this decade - 'Sh*t is getting real' as bluntly put by John Connor, chief executive of the Carbon Market Institute.
71% of business leaders believe that Australia needs to get to net zero before 2050, and almost 2/3s of those want to hit 'negative emissions' targets. However, many believe that the 2035 target should only be set to see emissions fall more than 60 per cent on 2005 levels.
What We Think?
We agree and empathise with Australia's CEO's - there is no doubt complexities in the decarbonisation and ESG transition but we also believe in Australian enterprise - that they can innovate over the long term to hit decarbonisation and environmental targets and do so more profitably. An example of this is Fortescue Metals, who are predicting a net operating cost savings of a whopping $US818 million a year from 2030. As the old saying goes - 'it pays to go sustainable'.
Our recommendations are always firstly commit to the journey and take the long term view. Decarbonisation projects can not be done over night. Secondly, benchmark where your company is currently and look at how the vision of the company and balance sheet of the company can work together to optimise the future. Find a partner that is specialised is simplifying the complexities of ESG and decarbonisation so that company board and leadership can easily assimilate ESG and climate strategy into global business strategy. Set measurable goals along the journey, educate your team, staff and stakeholders so they can join the mission and enjoy the ride.
Aussie Government Sets Out Ten year Plan To Prevent Any New Extinctions
A $224.5 Million commitment has been made by the Minster for Environment and Water Tanya Plibersek to create an Action plan focused on preventing any new extinction of plants and animals as well as conserve 30% of Australia's landmass.
The plan is includes a commitment to increase participation of First Nations Peoples in the management and recovery of threatened species and threatened ecological communities*.
This Week in Leadership
Coaching Series Pt 1: The Key To Aligning Individual and Organisational Goals
What does your organisation need most right now? Alignment of fragmented business units around a common goal? More effective feedback conversations? Culture change?Better communication and collaboration in a world of hybrid work?
The answer to most of these is usually solved in one word: connection. Connecting your individuals to the purpose of your organisation, connecting teams and leaders, connecting companies with their stakeholders. A connected workforce is key to building companies and cultures that are both agile and engaged.
An agile and engaged team is a group of people who are self aware, courageous, empathetic, resilient and they have the ability to stay focused and motivated through times of complexity and ambiguity. The fastest way to cultivate these qualities and connection in your leadership and team throughout your organisation is through coaching and development.
Coaching can done by CEOs to their executive team, and executive teams to their frontline managers, or by bringing in a team of coaches. It doesn't matter who but it must be done to the highest level to accelerate transformation.
Great coaching starts with an understanding of the organisation goals and capabilities they need to build within the workforce.
Here are some keys coaching steps to align individual and organisational goals:
Coaching to create connection and engagement can not be general. It does not look the same for everyone. It must be specific and committed to. Do this across each level of the organisation to see an acceleration in change across the organisation.
Did you know that Apricot Does Executive and Leadership Coaching?
The Apricot executive coaching creates a purposeful and intentional space for leaders to reflect, manage uncertainty and complexity, and explore solutions with Apricot’s unique coaching model.
Our approach is human-centred, genuine, and based on data. Our unique proprietary platform (the Apricot Health Index) allows us to gather data and measure change over the course of our programs, at an individual, team and organisational level.
Learn more here at www.apricotconsulting.com.au
Quote of The Week
'To me, a leader is someone who holds her- or himself accountable for finding potential in people and processes.” - Brene Brown
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