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illuminem summarizes for you the essential news of the day. Read the full piece on Trellis or enjoy below:
🗞️ Driving the news: Companies face six common barriers when embedding sustainability: knowledge gaps, misaligned KPIs, consumer skepticism, fear of failure, difficulties quantifying value, and bureaucratic inertia
• Strategies to overcome these challenges include education, integrating sustainability into KPIs, leveraging market data, setting credible goals, and highlighting financial benefits
• The article emphasizes the importance of persistence and collaboration in advancing sustainability
🔭 The context: Sustainability integration requires shifts in organizational culture, processes, and metrics, which can encounter resistance
• NYU Stern’s Center for Sustainable Business highlights the financial benefits of sustainability, such as sustainable product premiums of nearly 28% in 2022
• Tools like ESG data management systems and frameworks like the Science-Based Targets initiative (SBTi) can help businesses set and achieve ambitious goals
🌍 Why it matters for the planet: Successfully embedding sustainability helps reduce environmental harm, enhances social equity, and fosters long-term business resilience
• Overcoming internal barriers accelerates corporate contributions to global climate and sustainability goals
⏭️ What's next: Businesses are encouraged to identify internal champions, align sustainability with broader business goals, and remain flexible when navigating bureaucracy
• Continued dialogue and resource-sharing across departments will drive progress
💬 One quote: “Embedding sustainability creates enterprise value by building resilience, reducing waste, and ensuring fair treatment across supply chains.” – Tensie Whelan & Chisara Ehiemere
📈 One stat: Products marketed as sustainable commanded a 28% price premium over conventional alternatives in 2022, according to NYU Stern’s Sustainable Market Share Index
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