Hello Reader,
βThe Australian Senate passed the Mandatory Climate Disclosure bill yesterday - which will mean there'll be quite the buzz among large organisations (who will be first cab off the rank to start reporting) and SMEs (who, while they won't need to report straight away, will be asked to declare their climate impacts to large companies they supply to / work with).
We really believe that reporting is more than just compliance; itβs an opportunity: to innovate and build resilience ahead of competitors who might not believe taking any action now is necessary; to enhance appeal to larger customers, clients and organisations looking for providers who are on the front foot; to leverage ethical and strategic advantages more broadly.
It's always interesting to know if there is noise about this happening outside of our own echo chamber, so we're curious to know:
How do you see the climate reporting affecting you and your business?
What risks and opportunities do you see?
How are you or your clients/customers preparing?
Weβd love to hear your thoughts. Hit reply and let us know if you're hearing the buzz around reporting.
All hands on deck
πͺMelissa
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Inspiring Purpose
βOrganic seed supplier Fruition Seeds has stopped selling and shipping their products. They consider seeds as gift that should be shared and so are removing the expensive price tag. They want to reduce the obstacle to accessibility to seeds and are relying on donations to continue.
This is an extreme example of altering your business model, and we're not saying that everyone should become a not-for-profit. What we are saying is that reflecting on your purpose and values is important in business. It keeps you on track and guides your strategy.
Business As Unusual Innovation
In the aftermath of the recent buzz around the remuneration and perks package that the new Starbucks CEO is set to enjoy (including use of a company private jet to zip around the country for meetings), it's refreshing to hear that some organisations are putting sensible limits supported by policy in place to stop exec pay getting out of control.
βDr Bronner has a 5:1 salary cap, meaning that their C-Suite are capped at earning 5x as much as the lowest paid employee in their business. They then use as a communication tool to demonstrate the living of their values.
Doing the maths, the ratio for Starbucks CEO Brian Niccol is 2306:1 (with a package of $113m compared to the average salary of a barista of $49k.). With their mission being "nurturing the limitless possibilities of human connection" and one of their values stated as "Courage - We do the right thing even when it's hard", this eye-watering ratio feels somewhat hypocritical. What do you make of it?
Roundup
Marketing Week polled 600 marketers on LinkedIn about whether they thought it should be marketing's remit to drive an organisation's sustainability agenda, and face-palmingly (yep - I'm making that a word), 68% said no. Coming from a brand custodianship perspective, this demonstrates a clear lack of understanding about why sustainability is a strategic imperative.
Should cigarette pack style warnings be displayed on products and services that are emissions intensive? Nobel-winning economist Joseph Stiglitz thinks so, advocating for prominent environmental disclosures and enforcement. What do you think?
Segueing nicely into the latest campaign from Comms Declare, in collaboration with Doctors for the Environment called Smoke Kills - calling out that fossil fuel pollution kills more Australians than car crashes, alcohol and gambling combined in an advocacy effort to get fossil fuel advertising and sponsorship banned.
βHeinz in the US is ensuring resilience in the face of rising temperatures in their Californian tomato growing region. An example of strategic adaptation for prolonged business.
βColgate has shared its recyclable tube technology with competitors and industry. They see the importance of changing standards across an entire industry for initiatives to gain traction (and prevent greenwashing litigation).
What We're Reading
Afterglow: Climate Fiction for Future Ancestors, a collection of short stories published by NFP media outlet Grist. Featuring a glimpse into what futuristic, hopeful worlds might look like in the wake of global climate disasters.
We acknowledge the Australian Aboriginal and Torres Strait Islander Peoples as the first inhabitants of the nation and that sovereignty was never ceded. We pay our humble respects to the palawa/pakana people. They are the Traditional Custodians of the lands where we live, learn and work in the beautiful Huon Valley region of lutruwita/Tasmania, Australia. |
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