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Panel 2 - Curious About Corporations, Policy, and Sustainability

Hosted by Simon Brown (Partner, Talent, EY), this panel featured James Gomme, Director at the World Business Council for Sustainable Development, and Iris Konrad, Sustainability Specialist at SAP. The discussion explored the pivotal role of corporations and policies in driving global sustainability efforts. The panelists highlighted the challenges, opportunities, and tools available to organizations seeking to balance economic success with environmental and social responsibility.

Key Topics Discussed

1.        The Balance of Hope and Urgency
James Gomme emphasized the dual reality of sustainability: while the science underscores the urgency of addressing climate change, inequality, and biodiversity loss, there are reasons for hope, including technological innovation and regenerative opportunities. He called for rapid, transformative action during the critical five-year window identified by scientists to mitigate climate and environmental impacts.

2.        Impact Measurement and Valuation
Iris Konrad highlighted the importance of integrating sustainability metrics into corporate decision-making through impact measurement and valuation. She stressed the need for systems that go beyond traditional financial accounting to evaluate environmental and social impacts in monetary terms, enabling companies to make more sustainable business decisions.

3.        Challenges in Sustainability Transformation
Both panelists acknowledged systemic barriers to sustainability within corporations. These include:

a.        Short-term incentives that hinder long-term transformation.

b.        A perception of sustainability as a cost rather than an opportunity.

c.        A significant skills gap in ESG and sustainability leadership.

4.        Engaging Young People and Developing Skills
Gomme advocated for mobilizing younger generations as sustainability leaders, emphasizing the importance of equipping them with technical and adaptive skills. He highlighted the need for collaboration between corporations, education systems, and human resources to prepare the workforce for sustainability-focused roles.

5.        The Role of Technology and Collaboration
Konrad explained how technology, such as impact measurement tools and ESG reporting systems, can help companies align sustainability with profitability. She stressed the importance of collaboration across industries to establish standardized, science-based metrics and methodologies.

6.        Personal and Organizational Responsibility
The panelists encouraged individuals to take personal action while also advocating for systemic change. They emphasized the importance of raising awareness, understanding sustainability within organizational roles, and pushing for meaningful corporate and policy reforms.

Key Takeaways:

·      Urgency and Action: Corporations must act swiftly during the current window of opportunity to mitigate climate impacts and foster regeneration.

·      Impact Metrics Matter: Integrating sustainability metrics into decision-making ensures companies can balance profitability with environmental and social responsibility.

·      Skill Development is Critical: Organizations must address the sustainability skills gap by fostering collaboration between education systems and businesses.

·      Technology as an Enabler: Tools like impact measurement and valuation systems can drive actionable insights and help standardize sustainability reporting.

·      Hope and Perseverance: Both panelists underscored the importance of maintaining optimism and recognizing that every action counts, whether at the individual or organizational level.

This panel concluded with a call to action: to embrace a shared responsibility for sustainability, leveraging corporate influence, policy reform, and individual efforts to create a more equitable and regenerative future.

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