IoD Midlands january 2022

Spotlight: The race to Net Zero
Leading your business to Net
Zero: the time to start is now
Lynn Oxborrow
Associate Professor and Help to Grow
Programme lead, Nottingham Business
School, Nottingham Trent University
It’s hard to imagine that
the challenge of slowing
down climate change
has completely passed
anyone by, but what
does this mean in
practical terms for the
way leaders run their
businesses?
Achieving Net Zero means using no
more carbon in fuel or materials than we
can responsibly return to the earth in a
usable form. For most businesses that
means reducing the amount of energy
and materials used and releasing less
carbon dioxide and other greenhouse
gases into the atmosphere.
But sustainability also involves
improving the reuse of valuable
materials, water and land and reducing
or re-purposing waste more effectively.
If all business could make some
improvements this would contribute to
reducing climate change by reducing the
predicted long-term and sustained
changes to weather and temperature
that scientists are already witnessing.
So, as a business leader, you will need
to do just that – lead your business to a
more sustainable future, even as you set
about recovery and growth following all
the disruption of the last two years.
If you lead a small business, you may
think that there isn’t much that you can
do. However, a recent survey of small
businesses, carried out by the British
Business Bank, suggested that
collectively, small businesses account for
around half (43-53 per cent) of UK
business greenhouse gas emissions but
that 94 per cent of businesses
questioned had taken at least one action
to reduce their emissions.
And in case you need any further
convincing, climate action can have a
positive effect, by helping to reduce
costs, satisfy your customers’ needs to
reduce their own impact, and it can also
help to engage and motivate your staff.
If you employ ‘Millennials’ or ‘Generation
Zs’, research shows these groups are
much more concerned about the
environment and look to their employers
to adopt positive values and responsible
actions.
So, if you intend to help your
organisation to a more sustainable
future, you need to start with a plan for
change. Where do you start? Here are
some steps to follow.
Create urgency
One essential ingredient in many
change plans is to create urgency. The
Climate Crisis is a source of urgency, so
act NOW.
The extensive media coverage means
now is a good time to start!
Enlist champions
You could identify champions and
partners to help take your plans
forwards, providing both knowledge and
energy.
Making a positive difference can have
a beneficial effect on staff morale,
well-being, motivation, staff retention
and productivity. A champion could
bring your plan to life.
Get trained
Carbon literacy training could enable
your team to measure the carbon
footprint for your business, identify
priorities for short and longer-term
targets, and monitor improvements.
Make better decisions to measurably
reduce your carbon footprint.
Do you know which of the following
would have the biggest impact on your
own ‘race to net zero’: switching to
renewable energy, continuing to meet
customers online or changing the
materials in your product …?
‘‘
If you make a measurable
difference, report it,
communicate your success
and embed your new normal.
But don’t make assumptions.
Making honest claims
supports your overall
business competitiveness and
stimulates further innovation.
If something doesn’t work -
reflect and revise....
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January 2022