This week we had another great Sustainability event in Singapore - organised by Lufthansa Group. While the airline industry overall is struggling to curb carbon emissions, it is great to see that one important player is striving forward on their sustainability journey. Maybe the most prominent technology is AeroShark - a nature-inspired film that is reducing the friction and drag of a plane's fuselage.
The event brought together industry experts into different panels that discussed sustainability also beyond the airline industry. For a while now, I have been pondering about key words that describe sustainability journeys. During this event, I have put more thought into these descriptors which guide us on a solid path towards a better planet and society.
Honesty - past incidents of greenwashing have shown that solid reporting is essential in order to gather internal and external support for the ESG journey. We need to create more transparency and credibility, so that we can strengthen our reputation towards consumers, regulators and talents. Lufthansa has illustrated their effort and dedication to report on a long list of standards.
Frugality - frugality means the careful use of resources and this is strongly related to reducing our consumption of energy, raw materials and natural landscapes. Operational efficiency is not only a driver to reduce cost, in most cases these solutions also have a net positive effect on the environment. The AeroShark film, better transport routing and switching to more efficient drive trains are some great examples.
Courage - risk is a large driver in corporate decision making and often, this is holding back crucial investment decisions. Bold new strategies into an uncertain future requires courage - and we need environments that are enabling more risk taking. One great example was Jungheinrich where the board decided five years ago to fully embark on their sustainability journey; this courage has paid off very well for them.
Synergy - sustainability journeys demand stronger collaboration between the silos within an organisation and beyond their company borders. This collaboration is facilitated with common goals and a belief that together we can achieve more. It was also highlighted that academia and industry need to work much closer and share insights. Together we are stronger.
The journey towards a greener and fairer planet can be daunting. These four underlying principles can act as a guide towards more successful sustainability transformations. Which drivers do you suggest to add?
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Tim is a change practitioner in the area of innovation and excellence. He is working with teams to accelerate innovation, collaboration and agility.