In today's rapidly evolving business landscape, sustainability has emerged as a critical imperative for companies across industries. To delve deeper into the intersection of sustainability and business, we spoke with Rory Moore, Sustainability Manager at Ericsson, who shared valuable insights and perspectives on the journey towards a more sustainable future.

The Financial Advantages of Sustainability

Rory emphasizes the importance of recognizing the business case for sustainability. "Companies need to do more, but also there is a business case. For example, if we can use technology to reduce energy consumption, that will have both financial benefits for companies and drive environmental progress.".

Collaborative Solutions for Sustainability

Collaboration emerges as a recurring theme in Rory's discussion. "Sustainability can't be fixed by one company or one government; it requires collaboration," he states. “Companies can't get to net zero across the value chain unless they collaborate with their suppliers and customers.

Balancing Demand and Energy Consumption

However, Rory acknowledges the challenges inherent in the digital tech industry's pursuit of sustainability. "Balancing sustainability with the increasing demand for data is a complex challenge," Rory acknowledges. It's imperative to explore innovative solutions that balance these conflicting priorities, allowing for sustainable growth while maintaining efficiency.".

Overcoming Financial Barriers

Moreover, Rory sheds light on the financial considerations involved in sustainability initiatives. “there's a big upfront cost often associated with becoming more sustainable, whether it's purchasing more expensive renewable energy or changing your business model or innovating in your products to become more sustainable." That might lead to long-term cost savings, but it's an upfront capital investment, which might deter businesses because they're not 100% sure they will see their long-term benefit. Often decisions, particularly in politics, are made on the short term because of the model and the way these things work. Therefore, it is difficult to make the upfront decisions that will lead to long-term benefits. There's not always confidence about that," he acknowledges. Nevertheless, he emphasizes the importance of executive buy-in and evidence-based decision-making in driving sustainability initiatives forward.

Quantifying Impact

"Quantification emerges as a critical aspect of sustainability strategy," Rory asserts. "It is crucial for two main reasons. Firstly, in certain markets, there's a rising demand for environmental disclosure, a shift that has intensified over the past five years. Mere statements of a net zero strategy no longer suffice; tangible, measurable impacts are essential for compliance and competitiveness. Failure to provide such data may lead to lost business opportunities. Secondly, from a societal standpoint, integrity is paramount. We must avoid greenwashing and demonstrate genuine commitment through clear actions and plans. Merely stating intentions without a clear roadmap is insufficient. Therefore, quantifying our progress ensures accountability and underscores our dedication to addressing environmental challenges."

The Future of Sustainability in Business

Looking ahead, Rory remains cautiously optimistic about the future of sustainability in business. "Sustainability is no longer an optional add-on but an integral part of business strategy. It's a fundamental driver of success, intertwining with every aspect of corporate operations.”, he observes. Rory envisions a future where sustainability lies in its seamless integration into organizational DNA, shaping strategies, and guiding decision-making toward a more resilient and prosperous future.

In conclusion, Rory's insights offer valuable guidance for sustainability managers navigating the complexities of the digital tech industry. By recognizing the business case for sustainability, fostering collaboration, addressing industry-specific challenges, and quantifying impacts, organizations can pave the way towards a more sustainable future.

The views and opinions expressed in this blog are solely those of the author and do not reflect the official policy or position of any company.