Talk the talk, walk the walk or thus walk the talk, but don't just talk ??...

This week, I came across a couple of thought-provoking news items that in my head all connected and are on the intersection of innovation, sustainability, and marketing. These articles have in common that they make a big distinction between talking about sustainability versus doing something about it.

I am probably a bit biased as in my experience talking and working with sustainability and innovation managers, we work together on how to best 'walk the talk' and design programs that secure and accelerate action for future sustainable growth (focusing on renewable energy, carbon capture & utilization, sustainable agriculture, green buildings, cultured meat, reusable packaging, ...). Marketing & communication definitely have an important role to play in codeveloping these ideas for sustainable growth. Their role should for sure not be diminished to just communicating on the sustainability efforts.

Here are the 3 articles:

1?? The first was an HBR article (https://hbr.org/2023/09/research-how-some-companies-avoid-accusations-of-greenwashing) discussing how companies often use green claims as mere marketing gimmicks, without taking any real action to tackle climate change. They distinguish between companies that talk (reporting, claims, disclosures) versus those that take action via substantive sustainable actions. The article mainly zooms in on how interesting behavior can be observed within a business group: the firm that sits atop of a business group typically 'talks' versus the affiliates typically 'do (walk the talk)' and are the implementers of the actions.

2?? The second article was a European Parliament note (https://www.europarl.europa.eu/news/en/press-room/20230918IPR05412/eu-to-ban-greenwashing-and-improve-consumer-information-on-product-durability) stating that the EU plans to ban greenwashing and thus ban misleading environmental claims and marketing tricks such that consumers do receive credible information on product durability.

3??These articles reminded me of an article I read at "Knowledge at Wharton" a couple of months ago (https://knowledge.wharton.upenn.edu/article/the-missing-link-between-esg-and-corporate-innovation/).

In this article, the authors point out that many companies don't have a clear framework to embed ESG and sustainability priorities within their R&D and innovation efforts. It rightfully so asks the question: “What’s preventing companies from moving ESG from a periodic reporting activity to a platform for fueling the company’s future innovation and R&D efforts?” It also challenges companies to evaluate opportunities against a “triple bottom line” consisting of people (community/social impact), profit (financial return), and planet (environmental benefit) and measure impact e.g. through Impact Multiple of Money (IMM).

#sustainability #sustainabilitymanager #innovationmanager #ESG #marketing #innovation