About the plan – establishing the groundwork for a sustainable economy

Rewiring the Economy, ten tasks, ten years is a plan by the University of Cambridge Institute for Sustainability Leadership (CISL) with tasks for Government, Finance and Business. It offers a ten-year roadmap to establish the groundwork for a sustainable economy and is based on ten interconnected tasks that require collaboration among leaders from various sectors such as business, government, and finance.

We would love to share your story

Are you already taking action that falls under the CISL’s ten tasks? Please share your story with contact@sustaincase.com.

We are in the process of preparing this collection which will be organised as follows:

Government

1: Measure the right things, set the right targets

2: Align incentives to support better outcomes

3: Drive socially-useful innovation

Finance

4: Ensure capital acts for the long term

5: Price capital according to the true costs of business activities

6: Innovate financial structures to better serve sustainable business

Business

7: Align organisational purpose, strategy, and business models

8: Set evidence-based targets, measure and be transparent

9: Embed sustainability in practices and decisions

10: Engage, collaborate and advocate change

For further information on “Rewiring the Economy, Ten tasks, ten years” download the pdf at this link https://www.cisl.cam.ac.uk/system/files/documents/rewiring-the-economy-report.pdf

Executive summary – Rewiring the economy

The global economy has brought about improvements in the quality of life and well-being for billions of people. However, there is a growing problem of inequality, ongoing conflicts, and security concerns. Additionally, ecosystems are being degraded, resources are being depleted, and greenhouse gas levels are increasing. These trends have negative consequences for communities, environments, businesses, and long-term economic prospects. However, by implementing simple measures to align the economy with sustainable development, it is possible to avoid these issues.

The Rewiring the Economy plan, developed by CISL, offers a ten-year roadmap to establish the groundwork for a sustainable economy. This plan is based on ten interconnected tasks that require collaboration among leaders from various sectors such as business, government, and finance. These tasks are not exclusive to the plan; rather, Rewiring the Economy demonstrates how they can be collectively addressed to foster an economy that promotes sustainable business practices and achieves the social and environmental progress outlined in the UN Sustainable Development Goals (SDGs).

CISL’s vision is for this plan to serve as a strategic guide for business, government, and finance leaders worldwide. It is crucial to adapt these tasks to different institutional and geographical contexts in order to have a significant impact. With this in mind, we hope that the plan will inspire new collaborations and facilitate a fundamental shift in how the global economy is utilized for the greater public good.

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

• Exclusive FBRH template to begin reporting from day one
• Identify your most important impacts on the Environment, Economy and People
• Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
• Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

The post Preparing the new SustainCase collection: Rewiring the Economy appeared first on SustainCase - Sustainability Magazine.

Two GRI Certified Courses are taking place from Mon 9 – Wed 11 March 2020, which are designed to prepare businesses to start addressing the Sustainable Development Goals, take all round sustainability action ASAP and prepare sustainability reports.

Can I have your comments on this please.

All steps that encourage increased awareness about these issues should be welcomed. Confederation of Icelandic Enterprise wants to be in the lead in this project, as is the case with so many other initiatives around the competitiveness of Icelandic business. A successful approach in this field is just one of the crucial factors regarding competitiveness for the years to come.

SustainCase: How do you think sustainability reporting will help, in practical terms, companies in Iceland achieve business success? Also, how do you think sustainability reporting will impact the economy of Iceland in general?

Sustainable use, waste reduction, better use of resources are critical drivers for success in business-operation in the coming years. Companies that acknowledge these issues and report on how they are doing in this field are more likely to show reliable performance in the future. Excellent performance and increased value-creation of companies are beneficial to all.

SustainCase: There is a growing body of research (Oxford University, Harvard Business School, Mintel, UK’s Chartered Institute of Marketing, Morgan Stanley, Nielsen) that suggests companies need to be part of the sustainable economy to survive. Can I have your comment on this?

The sustainable use of natural resources is one of the fundamental elements of the Icelandic economy. For decades, Iceland has been dedicated to a sustainable approach in both its fisheries and energy sectors. By doing so, Iceland has realized not only tremendous economic value for the companies involved but also long-term benefits for the Icelandic economy.

SustainCase: Millennials, the largest generation ever, are overwhelmingly pro-sustainability and are showing this with their every action on a personal level and as decision makers in businesses. Is this also the case in Iceland?

Yes! That is definitely the case here. Consequently, because of the millennial push, older generations are becoming more aware of the importance of changing how we live our lives in this regard—and they are taking action.

SustainCase: What are, in your view, the most important economic, social, and environmental sustainability challenges Iceland faces today?

In Iceland, we are very fortunate in regards to many of these factors. We benefit from very clean water and air, and we are rich in natural resources. Currently, our main challenge is to understand the scope of these challenges on a global scale and increase awareness for the necessary actions. We need to look beyond Iceland. We need to understand and become aware of what is going on globally.

SustainCase: Global warming is, today, the most important challenge to sustainable development. How do you think Icelandic companies can help fight climate change?

Icelandic society is based on the production of sustainable energy.  All of our electricity and heating is from renewable energy sources such as geothermal and hydroelectric. Iceland has participated in the EU´s climate strategy, including ETS since 2008. By doing so, we can hopefully share our experience in the field, and this could lead to fewer emissions across the EU. Additionally, many companies in Iceland are ambitiously striving to become carbon-neutral by minimising waste and by carbon offset through forestry and soil conservation.

Samtök Atvinnulífsins facilitates GRI Certified Sustainability Training in Iceland

Two GRI Certified Courses are taking place in March. A collaboration of Samtök Atvinnulífsins with London based FBRH Consultants and Navigo:

• 2-day FBRH GRI Standards and ISEP approved course (Mon 9 – Tue 10 March 2020)
  This course prepares all participants to project manage a first-class sustainability report and succeed in taking all round sustainability action ASAP.

• 1-day FBRH GRI Certified “Integrating the Sustainable Development Goals (SDGs) into your reporting process”
  Participants are taught the recommended methodology for choosing the right SDGs for action and how these can be addressed using the GRI Standards. It is important to note that the GRI Standards are the only sustainability framework that can address all the SDGs.

The post An interview with Confederation of Icelandic Enterprise on sustainability training appeared first on SustainCase - Sustainability Magazine.

The benefits of sustainability reporting with the GRI Standards is that stakeholders are consulted to determine the materiality of the report.  Therefore, the information provided in the report is targeted to their interest, emphasizing transparency.  The standards have also resulted in more focused CSR work within the company e.g. to identify improvements for action.

SustainCase: Isavia was the winner of last year’s award by Festa on sustainability reporting. In view of your sustainability reporting journey, is there any advice you can give to companies who are looking to take positive action on the environment, economy and society through sustainability actions and sustainability reporting?

Be focused and choose the materiality well based on the type of business the company is in.  It is very important to connect the work and emphasize in the report to the corporate strategy.  Sustainability actions and reporting should be looked at as a continuous improvement process – just by starting the journey companies are already taking positive actions.

SustainCase: There is a growing body of research (Oxford University, Harvard Business School, Mintel, UK’s Chartered Institute of Marketing, Morgan Stanley, Nielsen) that strongly suggests companies need to be part of the sustainable economy to survive. Can I have your comment on this?

There has been a growing demand from our stakeholders for social responsibility.  Customers require companies to be responsible and employees want to work for companies that are responsible.  This trend will only increase with new generations entering the workforce.

SustainCase: Millennials, the largest generation ever, are overwhelmingly pro-sustainability and are showing this with their every action on a personal level and as decision makers in businesses. Is this also the case in Iceland?

Yes, we see the same trend in Iceland.

SustainCase: What are, in your view, the most important economic, social, and environmental sustainability challenges Iceland faces today?

The most important challenge is the effect of climate change and the unforeseen consequences that will have on the life of people.

SustainCase: Global warming is, today, the most important challenge to sustainable development. How do you think Icelandic companies can help fight climate change?

The most important action Icelandic companies can do is reducing and then eliminate carbon emissions from their operation in any way they can and as fast as they can.

Samtök Atvinnulífsins facilitates GRI Certified Sustainability Training in Iceland

Two GRI Certified Courses are taking place in March. A collaboration of Samtök Atvinnulífsins with London based FBRH Consultants and Navigo:

• 2-day FBRH GRI Standards and ISEP approved course (Mon 9 – Tue 10 March 2020)
  This course prepares all participants to project manage a first-class sustainability report and succeed in taking all round sustainability action ASAP.

• 1-day FBRH GRI Certified “Integrating the Sustainable Development Goals (SDGs) into your reporting process”
  Participants are taught the recommended methodology for choosing the right SDGs for action and how these can be addressed using the GRI Standards. It is important to note that the GRI Standards are the only sustainability framework that can address all the SDGs.

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