Get Serious on “Grand Talk”

As the COP 26 kickstarts in Glasgow, businesses should realize that it is time to get serious on “Grand Talk”.

At the Youth4Climate summit in Milan, Italy, held in September, climate change icon Greta Thunberg had famously delivered her famous “Blah-Blah” speech. “Blah, Blah, Blah, build back better. Blah, Blah, Blah, green economy. Blah, Blah, Blah, net-zero by 2050. Blah, Blah, Blah, climate neutral. Blah, Blah, Blah…”

In many ways, the speech captured a collective feeling of angst the world feels over fanciful terminology and vague promises. The trust deficit between the public and those in the government has never been lower. Fortunately, there is an opportunity for COP26 to remedy some of those concerns and create an optimistic environment where everyone can collaborate. 

At the very onset, COP26 has the input of the difference between a rise of 1.5oC and 2oC. The contrast is pretty stark. In many ways, this is the only decade to decide what future we want; it is upon us as a civilization. We do not want to create the “Children of Kali” of the post-apocalyptic world as portrayed by Kim Stanly Robinson in The Ministry for the Future.

It is not the government alone that is responsible for the shift. Business leaders should understand that there is only one direction the world economy will move.  It will have to be the low-carbon way or no-carbon way. The pace and the time are the only things in question. As the time to act is fading fast — as UK PM Boris Johnson said, “a minute before midnight” — I am sure that the finance will turn the tables fast. The Sustainable Finance Taxonomy that is evolving around the world is one such direction. 

The “Blah, Blah, Blah” term should start reverberating inside the board rooms as a reminder to stop indulging in greenwashing and put forth constructive efforts to combat climate change.

Understanding the limits of the planet and arguing about responsibility, we can keep on doing that. But neither has moved the needle much. Now the risk scenarios need to be put on the board table; it is time business understands the serious risk they are facing. If they do not see the risks, they will be blind to the opportunity also.  

It is almost a new starting point for businesses as the road map towards a sustainable future is still in the making. Which 2-wheeler player would have predicted Ola as their competitor? Which 4-wheeler OEM in India would have seen competition coming from Foxconn? The leaders of tomorrow can emerge from any corner.

Some days back, I spoke to the CEO of a cement company and said that the future of competition would not be from other cement companies. Voila!, within a week of discussion, there I find a full-page advertisement by Aramco in the New York Times about recycling CO2 to make concrete stronger (I do not know details on this). This new reset has the potential to fossilize many industry segments. This opportunity realization can be gauged when the two greatest rivals Rio Tinto and Alcoa (along with Apple), came together to produce the world’s first carbon-free aluminium.

The second big shift will be when finance starts moving towards sustainable finance (the wheels have started). Investors will demand need for complete traceability and transparency. There will be more demand on demonstration of the outcome to those intelligent campaigns many companies have started. Those disclosures are no more non-financial metrics, and hence the liability will step in. Any claim will have to be traceable, verifiable and comparable. As one of the articles in Fortune magazine states, “the honeymoon is over.” 

The recent Bain article tells that sustainability initiatives had far less success rates in meeting goals than other business transformation initiatives. The reasons can be many, but it does convey the seriousness of the approach. The days for eloquent grand talk is over; it is now all hands-on-the-deck scenario. And when your ship is rocking in the storm, the last thing you would expect your captain or the leader is to give you “Blah, Blah, Blah..” Right?

So, let’s get serious on “Grand Talk”, get down to real work that result in the right impact.

By Santhosh Jayaram

Adjunct Professor of Practice at Amrita School for Sustainable Futures, Amrita Vishwa Vidyapeetam. I also function as advisor for a leading IT Services company in India and a couple of start-ups. Earlier I was a partner with one of the leading professional services firm and lead the biggest advisory teams in the field of sustainability, ESG and Climate Change in Asia. My other interests spans to Nature Photography and a bit of painting. I published 2 books "Still Speaking" Volume 1 & 2, in 2020. These books are a collection of photographs (Stills) and what they spoke to me.

2 comments

  1. Well presented views, Santosh. I feel we are already well behind the race for saving the planet. The inclusivity and dialogue to create more awareness with the masses/ lower strata of the population on this crucial crusade is sadly missing.

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