Leading in sustainability practices requires a positive attitude, a fairly high-risk appetite, and the ability to manage in the midst of high levels of ambiguity, said Sue Garrard, a leading adviser and coach on sustainability strategy for companies. Garrard delivered the keynote speech at this year’s PwC Business Post Sustainable Business Awards.
As the former executive vice president of sustainable business and communications at Unilever, Garrard was able to provide attendees with some valuable advice on negotiating the journey towards sustainability.
“We need to see rapid movement towards a low-carbon, low-impact economy, and only business can deliver that,” she said. “But it takes a marriage of the moral case and a business case to make big changes that will stick on the sustainability impacts of a company. It’s important to ask four major questions – will a sustainability strategy help mitigate risk; reduce or manage costs; build trust in your business; or most excitingly, support growth?”
By marrying the moral and the business case, Garrard said, much progress can be made. There are many statistics to support this – in the so-called ‘green’ sector are growing significantly ahead of the wider market around the world; in the UK alone, its net-zero economy expanded by 10 per cent between 2023 and 2024 and global EV sales soared in February, with a 76 per cent growth in China.
“The business case for change is overwhelming,” said Garrard. Most importantly, consumers want change. Consumers generally won’t pay more for a greener product; they are wary of greenwashing and need evidence of claims; they won’t sacrifice product performance – but they want to play their part. They may not understand the details of the science, but they understand that renewable energy, home insulation, heat pumps, eating less meat, driving electric cars – the list goes on – are better choices.”
Employees and investors want change too, Garrard said. “Over 60 per cent of young people are rejecting former high-paid careers because they don’t agree with the ethics of the organisation. Ask anyone hiring into big law firms or other professional services.
“Investors are looking at the risks associated with climate impacts – and that is not just about the end product or service, but vulnerabilities through the supply chain. Barclays Corporate banking division produced a public report on the fast fashion industry in 2020. It said that the impacts of the fast fashion industry were, literally, unsustainable, and the business model – built on very high levels of waste – was not going to survive. A leading Chinese fast fashion brand wants to list in London, for instance. But despite the keenness of the London markets for a new listing, there have been multiple challenges and questions about its business model and risk profile.”
Speaking to the attendees at the awards, Business Post editor Daniel McConnell said it was heartening to see so many companies, of all sizes, that are making sustainability a core part of their strategy.
“Commitment to ESG requires investment, not just financially but in leadership, vision, and transparency. The best businesses today are those that do not shy away from the scrutiny that comes with real accountability. They understand that sustainable business is not a trend – it is the foundation of long-term resilience and success.
“But we cannot ignore the fact that embedding ESG principles comes with significant challenges. The entries we reviewed highlighted the considerable costs involved, the regulatory complexities, and the very real risks that businesses are taking in their efforts to drive meaningful change. And yet, despite these obstacles, companies across Ireland continue to lead the way – pushing boundaries, setting higher standards, and proving that sustainable business is good business.”