By Inspiration Space in Sustainability — Jun 24, 2023

Round-Up: What's New in Sustainability This Week

Eviction alert amid climate chaos; Carbon Budgets incoming, Shein Sham & The Cost of Carbon Illiteracy, and more...

Welcome to our sharp and succinct digest aimed at bringing you the latest in sustainability, a hot-topic that continues to define our global business landscape.

Ready? Let's jump in!

Eviction Notice as Climate Chaos Intensifies

As climate change intensifies, UK's planning system is criticised for not being equipped to manage rising risks, potentially causing property loss or large future costs.

Experts claim that houses are still being built on flood plains, despite increasing risks. If this trend continues, 2.6 million people and 1.4 million homes will be at risk from different types of flooding. Additionally, about 2,000 properties could be lost to coastal erosion.

Why it matters 👉 For businesses in built environment, travel, and finance, expect increases in insurance claims, reduced property values and potential displacement of communities, disrupting local economies and infrastructure.

Pay attention to 👀 new legal requirements for climate resilience in developments might impact project planning and costs.

In the Race to Net-Zero: Size Doesn't Matter

Adapting to the changing climate means we need all hands on deck. Small businesses and large corporations are both crucial in the race to net-zero, creating new opportunities...and threats.

Agility allows micro-companies to adapt quickly to market trends, while corporations are pushed by regulatory and consumer pressures. However, economic volatility can impede small business contributions to green innovation.

Why it matters 👉 For marketers, designers, and PR pros, this shift presents an opportunity to re-vamp your business to provide services focused on promoting sustainable business models and climate tech solutions. If you're building in 'tech for good,' think about products and experiences that accelerate and cater to increased environmental consciousness.

Pay attention to 👀 Your own lack of knowledge and confidence when it comes to understanding and discussing the green economy, evolving consumer preferences and regulatory requirements.

Ready or Not: Carbon Budgets are Coming

As carbon budgeting becomes standard practice, businesses, regardless of their size, will need to account for their carbon footprint in much the same way they manage their financial resources.

For example, The Environment Agency uses carbon budgets to manage emissions, with each director owning a 'chunk' of emissions and the actions associated with their 'spend'. They've developed frameworks and dashboards to help understand that decisions have carbon as well as financial implications.

Why it matters 👉 This shift will necessitate an increased understanding of carbon accounting and literacy, even for small businesses or home-based startups. Businesses that anticipate this shift and take early action to reduce their carbon emissions will likely be at a competitive advantage, as consumer and investor expectations around sustainability continue to rise.

Pay attention to 👀 New opportunities for innovative, low-carbon business models and practices. Anticipate extra layers of complexity to business planning and operations.

Shein Sham & the Risk of Carbon Illiteracy

Fast fashion brand Shein's recent greenwashing debacle exposed the lack of carbon literacy among influencers promoting the brand. Equipped with that knowledge, they would have known there's no such thing as 'sustainable' fast fashion. Instead, they have spent the last few days firefighting while watching their credibility drift away.

Why it Matters 👉 Had they been based in the UK, it's not unlikely that a concerned citizen or keyboard warrior would report them to the Competition Markets Authority, who enforce the Green Claims Code. With fines of up to £300K, ignorance isn't bliss and it's no laughing matter.

Pay attention to 👀 In fields like fashion, PR, and marketing, understanding science-based targets and the lingo franca of the climate conversation boosts your credibility and ensure you too avoid greenwashing is crucial. As the 'gatekeepers' it's vital to 'talk the talk,' AND 'walk the walk.'

Carbon Literacy training! Add your name for September.

Carbon Literacy is a bandwagon that's certainly worth jumping on.

From fashion to food to the NHS, the world's leading organisations are putting Carbon Literacy at the top of the L & D list. Our next 1.5 day course starts on September 19th. Grab a seat for £390 + VAT.