Arguably, we’ve never had such intense focus on sustainability. And while debate rages about the speed of action, we have seen good progress at COP26, with more than 100 world leaders promising to reverse deforestation and to cut methane emissions by 2030. But it is the new low carbon emission responsibility for big firms that will probably be uppermost in the minds of many marketers. Under new Treasury rules, most big UK companies will be forced to publish details, by 2023, of how they will move to low-carbon emissions, in line with the UK’s 2050 net-zero target. Though not mandatory, the government has said the aim is to increase transparency and accountability, with plans submitted to an expert panel to ensure they are not just ‘spin’.
Over the years, the responsibility for taking action on sustainability and reducing CO2 emissions has been passed between three groups: the public, businesses and governments. Increasingly informed and empowered, more people than ever are willing to take personal action and have great expectations of what companies need to do: not only in reducing their own CO2 emissions, but also helping customers to do so and putting pressure on governments and other businesses in the supply chain to act.
At a very basic level, sustainability is less inputs for more output. Innovation is critical in driving this, but it must be done in combination with reduction. In order to be more sustainable and to meet CO2 emission targets, companies have to assess how best to combine innovation and reduction as part of a long term plan. There may be pressures to reduce in the short term, but innovation is better for the long term. For example, companies are under pressure to move away from plastics, but as glass has a much higher carbon footprint, an innovative approach might better in the long term than short-term switching to glass bottles.