Welcome to the first edition of The Walker Report, a quarterly opinion piece that I hope will stimulate honest conversations between tech leaders on the issues we’re facing into. I welcome all views and perspectives, so whether you’re compelled to agree with me or not, let’s have a discussion.
I don’t know about you, but I was filled with dismay as I scrolled through the pages of the Intergovernmental Panel on Climate Change (IPCC)’s Sixth Assessment Report.
If you didn’t read it, it states we won’t be able to limit global warming to even 2°C unless there are immediate, rapid, and large-scale reductions in greenhouse gas emissions.
As a father and Grandfather, I care about the kind of planet my family will be left with when I’m gone. The report findings confirmed that they’d be living in the environmental and economic equivalent of a toilet.
We cannot rely on the Government to facilitate the level of action and change required. Therefore, I’m calling on tech leaders to take on this responsibility in part because we are the ones that have the entrepreneurial spirit, clout, and agility to make an impact on climate change.
So what’s the plan?
We must take social responsibility seriously. It needs to be more than a tagline, campaign, or marketing
initiative. I believe all technology businesses need to be triple bottom-line focused.
The scale of change required can only be achieved when we strategically commit to working for the benefit of society and promise to measure our impact on profit, people, and the planet (the 3 Ps).*
DEC became a triple bottom line company in 2020. I strongly advise all businesses to do the same because the rewards have been monumental, and it’s where you’re going to find future growth.
Don’t believe me? Globally, sustainability is now being described as “the new digital,” and the World Economic Forum reports that the sustainability revolution has accelerated faster than expected, even during the COVID-19 pandemic.[1]
Social purpose companies grow faster
In 2014-2019, renewable energy capacity increased by 50%, UK sales of meat substitutes rose by 85%, and there was more than a 1000% increase in ethical investing.[2] German electric utility RWE and Danish energy company Ørsted both substantially outperformed their markets after becoming renewable energy companies.
This proves that, increasingly, consumers are voting with their heartstrings and rewarding companies who demonstrate they are acting on global issues and aligning with the beliefs and values of their future shareholders.
The resounding rhetoric off the back of the IPCC report was that this was a wake-up call, a harsh warning. There’s no more time for good intentions. Only actions.
I urge you to join me in the sustainable revolution. Focus your business on people, planet, and profit so we can leave the world in better shape than when we found it.
I want to know what you think. Let’s have a discussion. Connect with me on LinkedIn or email me mark@dec-aus.com
[1] https://www.weforum.org/agenda/2021/01/davos-agenda-sustainability-digital-revolution/
[2] https://www.weforum.org/agenda/2021/01/davos-agenda-sustainability-digital-revolution/
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