The common sense of business leaders has a significant impact on our planet

An open letter with impact

Citizens have long been making their voices heard through the climate youth movement, the climate marches they organise and the climate manifestos they have inspired. And, of course, this influences public and political opinion. But when 185 business leaders from across Europe issue a joint letter urging the implementation of the announced European Green Deal as ambitiously as possible – then effective action follows.

Regarding the open letter, an initiative of the Corporate Leaders Group, its CEO Eliot Whittington says: “European businesses and investors know that the only viable economic future capable of delivering prosperity and well-being is one that stabilises the climate.” But that sentence can also be read the other way round, and that is when it gets really interesting: doing the right thing for the climate is the key to ensuring a viable economic future, prosperity and well-being.

Sustainability doesn’t have to be altruism

In other words, it is in these business leaders’ own interests to make their voices heard as loudly as possible. I certainly do not wish to question the good intentions of the business leaders at, say, Microsoft or Google, two of the big names that signed the letter. I assume that they genuinely want the best for the world. But what probably motivates them just as much to transform their companies into more sustainable organisations is the positive impact this has on their businesses themselves; both immediately and in the long term.

It has taken a long – very long – time, but the realisation is finally beginning to sink in: investing in sustainability is not at odds with economic growth. And we’re not just talking about lower energy bills that positively impact the bottom line or renewable energy that generates extra returns; it’s also about smarter production processes and greater transparency towards all stakeholders.

The European Green Deal is a story of opportunities

Furthermore, there is also an incredibly important human aspect to investing in sustainability: after all, it is also about greater well-being in the workplace thanks to technological innovation and attracting top talent in this unprecedented war for talent.

Meanwhile, it is no longer just millennials who prefer to work for a company that cares about its people and society. And those citizens who took to the streets en masse earlier this year to protest against the lack of a proper climate policy? They are also consumers. The more sustainable your company, the longer and better you can remain relevant to these increasingly demanding customers.

So if the European Parliament showed us anything last week, it is, in my view, that it fully recognises that the European Green Deal is a story of opportunities, rather than challenges. It is that business leaders can exert considerable pressure on politics, but that they must not wait for politics to act before taking action themselves. By focusing on their own sustainable growth, they may well hold the solution to the climate crisis in their hands.

This article is an opinion piece by Robin Bruninx, managing director of Encon. It was first published by VRTNWS on 13/10/2020.