Business Insights: The Perspective @ Heart of London

The Future is Green: Why there is business opportunity in the sustainability agenda

On Tuesday 26 June members gathered in the library of the Royal Society of Chemistry for the second event in our insights series; The Perspective at Heart of London.

The topic, The Future is Green: Why there is business opportunity in sustainability agenda, saw highly acclaimed international development and environmental journalist Hazel Southam chair a panel of environment experts – The Rt Hon. The Lord Hayward, OBE, Jane Wakiwaka, Sustainability Manager, The Crown Estate and Martin Wright, Environmental Solutions and Sustainable Futures commentator – to discuss and share insights on how businesses can create and lead positive environmental change. With sustainability and the environment a key concern and perception driver for organisations, suppliers and customers the event provided an opportunity to explore the implications of changes in environmental practices and the practical measures organisations and businesses should take to help build a cleaner and more profitable future.

Summary of event:

Driving change from within

Appointing a sustainability champion is important to challenging practices and driving change from within an organisation.

Behaviour change
Sustainability doesn’t haven to cost. Encouraging the right behaviour can be a simple step towards increasing your sustainability credentials and saving money.

The power of partnership
Smaller businesses are encouraged to look outside of their own organisations or industries. Partnering with a supplier or third party well-equipped at providing sustainable solutions can be crucial to enhancing your sustainability credentials.

Understanding your audience
The consumer is increasingly concerned with, and aware of, sustainability and our effect on the environment. Understanding your audience and remaining authentic is important to preserving trust in your product or service.

The new normal
Quality and locally sourced products and services are becoming the norm. The consumer is now expecting these to be sourced ethically, and even locally, as they continue to drive demand for a more environmentally sustainable world.

Costs come down
Business should remember that while costs associated with any new and emerging market will inevitably be high, these will always come down.

‘Going green’ payback
The return on investment from choosing greener, more energy efficient alternatives has now become shorter, making switches to environmentally friendly processes a more viable option for businesses.

Entrepreneurial spirit
Some of the biggest and most profitable companies of the 20^th Century failed to create the revolutionary innovations we see today. This underscores the great value of being dynamic, innovative and the first-mover in a market.

Embracing technological development
Businesses should embrace emerging technology to provide solutions that both support and protect the environment and have long-term benefits for businesses.