UK ESG Watch: John Elkington's latest viewpoints on ESG
ICSD UK's market intelligence joined the University of Cambridge Alumni Festival on 27 September 2024. John Elkington, who coined the term "Triple Bottom Line" and known as "a Godfather of Corporate Sustainability" spoke in the conference on the topics of the growing awareness of climate change and the responses from societies, governments, and businesses. His latest viewpoints are summarised as follows:
Elkington discussed the historical tension between environmental groups and businesses, mentioning how groups like Greenpeace initially resisted collaborating with corporations. He emphasised that while regulations are necessary, businesses need room for innovation and creativity to make meaningful changes.
He noted the radical shift in corporate engagement with sustainability over time, from initial resistance to now seeing companies like BP and ICI developing environmental policies. He highlighted the current trend of appointing Chief Sustainability Officers, many of whom are women, as a positive sign of progress.
Elkington talked about the cyclical nature of progress in the sustainability field, with periods of advancement followed by down waves. He suggested that these downturns should be seen as opportunities for reflection and improvement, rather than setbacks.
Elkington stressed the importance of international collaboration to address climate change but also recognised the challenges posed by differing political and economic interests. He warned that shifts in political leadership could hinder sustainability efforts, particularly in the U.S. and Europe.
He praised the role of youth movements, such as Greta Thunberg’s activism, but expressed concern about the potential for disillusionment if governments and businesses do not act swiftly enough. He predicted that future leadership will come from currently unknown individuals who may drive transformative change in the coming decades.
Elkington emphasised the role of China in driving technological change and the impact of the Inflation Reduction Act in the U.S. He also addressed the challenges of climate denial and the necessity of personal accountability for climate action.
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