As a sustainability professional, I often heard versions of the same message: “sustainability is for rich companies that have money to spare”. Over the years, this outlook has changed in part due to greater exposure to climate risks. Before we truly understood the magnitude of the Covid pandemic, the World Economic Forum Global Risks Report’s top risks in terms of likelihood and impact heavily featured environmental issues.
There are increasing numbers of headlines putting sustainability into the frame for corporates to consider. This assumes that it hadn’t been a part of discussions prior to Davos’ and the launch of Green Finance. This is misleading. The current relevance is actually due to the change to its materiality and the rising risk in doing business.