SUSTAINABILITY TRENDS 2024- PART II- WORKFORCE

Mia Negru

The comparison is made on insights from the Reuters Impact Global Sustainability Report 2024 ( Liam Stoker will make it public very soon) alongside the Deloitte 2024 CXO Sustainability report and ERM Sustainability Institute, 2024 Annual Trends Report?

1. Workforce Reskilling as Central to Sustainability Success:

???All three reports emphasize the importance of reskilling and upskilling the workforce to meet sustainability objectives. Deloitte and ERM view workforce transformation as essential for achieving ambitious decarbonization goals and sustaining long-term innovation. Reuters also notes that upskilling is a critical focus, particularly to prepare employees to operate within increasingly regulated and technologically sophisticated sustainability frameworks.

2. Internal Education and Engagement Strategies:

??Reuters and ERM both stress the need for internal education on sustainability goals. ERM promotes broad, company-wide engagement in sustainability, aiming to embed these values deeply within corporate culture. The Reuters report places additional emphasis on educating employees about specific sustainability strategies, including waste management and circular economy practices. Deloitte approaches engagement by aligning upskilling initiatives with operational shifts, focusing on creating a sustainability-savvy workforce that’s adaptive to future challenges.

3. Diversity, Equity, and Inclusion (DEI) and Workforce Engagement:

???- Each report highlights DEI as part of workforce engagement. Reuters discusses DEI extensively, underscoring the importance of equitable practices across not only employees but also suppliers and other stakeholders. ERM and Deloitte focus on DEI within the context of building resilient and future-ready workforces, though Deloitte views DEI initiatives as a necessary complement to green job training rather than the central pillar that Reuters envisions.

4. Approaches to Employee Engagement in Sustainability:

??Reuters report indicates that over half of the companies view employee engagement in sustainability as a strategic priority, linking it closely with corporate values and local community impacts. Deloitte encourages employee engagement by integrating sustainability KPIs (Key Performance Indicators) within broader performance metrics, fostering accountability. ERM advocates for empowering employees to be sustainability ambassadors, viewing employee-driven sustainability initiatives as a powerful tool for corporate cultural transformation.

?Differentiating Points in Workforce Strategies

1. Focus on Job Creation vs. Workforce Transition:

??Deloitte places significant emphasis on creating green jobs, particularly in transitioning roles within traditional industries to focus on sustainability skills. ERM aligns with this but focuses more on integrating new skillsets within existing roles to foster internal transformation. In contrast, Reuters reports a broader approach to upskilling, suggesting collaboration with external consultants and specialists to bridge specific skill gaps rather than relying solely on internal reskilling efforts.

2. Reskilling Budget Constraints and Impact:

??Reuters uniquely addresses budget limitations for workforce upskilling, noting that smaller companies often lack sufficient resources to fully implement upskilling programs. Deloitte and ERM, while acknowledging budget impacts, focus on the long-term cost-effectiveness of a trained, sustainable workforce without detailing immediate fiscal limitations to the same extent as Reuters.

3. Integration of Workforce KPIs for Sustainability:

??Deloitte specifically discusses integrating sustainability metrics into employee performance evaluations, which it considers essential for embedding accountability. ERM and Reuters focus less on KPI integration, instead emphasizing the importance of broader engagement and training rather than specific evaluative metrics.

In sum, while each report underscores workforce development as vital to achieving sustainability goals, their approaches vary: Deloitte emphasizes structural role changes and KPIs, ERM promotes broad cultural engagement, and Reuters stresses practical education and external support, reflecting the distinct priorities and audience considerations of each organization.

What is your approach towards sustainability engagement and workforce greenupskilling?