The ICRS Exchange 2024

This year's ICRS Exchange welcomed 160+ CR&S practitioners in - person and online to The London Conference Centre, The University of Chicago Booth School of Business to explore the evolving dynamics of sustainability under new leadership, the significance of 'S' in ESG, and the journey of navigating the field as a practitioner. The day was filled with engaging talks from Paul Dickinson, Leah R., Beth Gaudin, James Tanner, Fabienne Gress, Gabrielle Beran, Layla Khanfar, Alexandra Florea, Matt Lomas, Cadence Willis, Rossella Nicolin CEng FICE FIStructE and Tom King who shared their knowledge and expertise.

The Welcome Address was given by Jennie Galbraith FICRS, ICRS Chair. 

The Keynote Speech was given by Paul Dickinson. 

In an engaging opening keynote, Paul Dickinson, Founder of CDP, explored the evolving power dynamics between national governments and corporations and their impact on sustainability efforts.

He emphasized that sustainability is a multifaceted challenge that cannot be tackled by governments alone, urging businesses to prioritize customer demand as a guiding principle. Paul outlined a phased approach to corporate responsibility—starting with disclosure, moving to science-based targets, and ultimately creating transition plans that align with government policies. He viewed the EU CSRD as a golden opportunity for companies to harness their own data for smarter decision-making. Ultimately, he proposed a dynamic partnership between business and government, likening it to a "coffee and cream" relationship where collaboration drives innovation and fosters shared goals for both corporate and societal benefit.

Shaping the Future of ESG Disclosures Through Regulation Panel

We heard from Paul Dickinson, Leah R., Beth Gaudin and James Tanner

Vic Taylor moderated a panel discussion which tackled the implications of new regulations like the EU CSRD and CSDDD, spotlighting their potential impacts on shaping the future of ESG disclosures.

James demonstrated the compliance challenges ahead, noting the EU's tough sanctions for non-compliance while warning that enforcement may vary by member state.

Leah stressed the importance of robust governance and stakeholder management, advocating for dedicated teams to oversee compliance and data management. T

The panellists noted that cross-functional collaboration and knowledge sharing are essential for successfully implementing sustainability strategies. They urged businesses to actively engage with emerging policies and participate in consultations to shape future regulations.

Highlighting the shift from voluntary to mandatory frameworks, the discussion indicated the need for strong implementation strategies. panellists also touched on the importance of international standardization and the complexities of overlapping regulations, emphasizing that profitability must align with social and environmental responsibilities. Ultimately, the concept of a "just transition" emerged as key, urging businesses to focus on solving societal issues to achieve sustainable profits.

The Role of Corporate Action in Redefining the UK's Decarbonisation and Climate Change Agenda Panel

We heard from Fabienne Gress, Gabrielle Beran, Layla Khanfar  and Alexandra Florea.

Andrew Wilson hosted this panel to discuss UK's Decarbonisation and the Climate Change Agenda. 

As we dive into the next half of the decade of action, corporate initiatives will be pivotal in reshaping the UK’s approach to decarbonization and climate change.

This discussion highlighted the adoption of clean technologies, nature-based solutions, and carbon capture, all framed within a just transition that prioritizes social and environmental equity.

Alex emphasised the crucial role of SMEs, which make up 90% of global businesses - these agile, purpose-driven entities often grapple with resource constraints but are eager to implement impactful sustainability measures.

Layla stressed the complexities of navigating carbon markets, noting the mixed reputation of voluntary carbon initiatives and the need for standardized definitions of effective offsets.

Gabrielle championed collaboration over competition, calling for ecosystem-wide investments that drive change, calling for a need to break down silos and mainstream climate action to strengthen the role of public-private partnerships in making meaningful strides towards addressing climate challenges.

Creating Social Value Through Collaboration to Drive Social Impact Panel

We heard from Matt Lomas, Cadence Willis and Rossella Nicolin CEng FICE FIStructE 

This panel was hosted by Sam Healy and in this insightful discussion, Matt, Rosella, and Cadence tackled the crucial topic of enhancing social impact through collaboration and actionable strategies that go beyond compliance. Rosella highlighted the importance of understanding local contexts and engaging communities to create social strategies that deliver real value, citing successful initiatives like helping formerly incarcerated individuals find jobs in construction.

Cadence showcased outreach programs designed to equip marginalized communities with tech skills, emphasizing the need to engage youth in underprivileged areas. The discussion also explored the complexities of measuring social impact, stressing the necessity of internal collaboration and alignment with supply chains to meet social value targets. Matt urged for transparency in corporate priorities and highlighted the importance of incremental changes for sustainable progress. The panel wrapped up with a powerful call for organizations to embrace experimentation and coalition-building, reinforcing that profitability and positive social impact can indeed thrive together.

Closing Key Note

The Keynote was introduced by Dorothy Maxwell.

In his closing remarks, Independent Political Consultant Tom King emphasized the evolving role of sustainability practitioners amid a rapidly changing legislative landscape, highlighting the urgent need for collaboration to meet both consumer expectations and business demands. As we look to the next half of the decade of action, Tom highlighted the interconnectedness of business, politics, and society, noting that the current volatility stems from their historical separation. He pointed out that the financialization of politics has peaked, making ESG considerations integral to business operations.

Despite ongoing challenges, he observed that CEO awareness of sustainability issues is at an all-time high, signalling a shift toward meaningful change. With the political landscape shifting, particularly with a new government on the horizon, he called for greater collaboration between public and private sectors. The message was clear: organizations should pursue partnerships that align with societal goals, proactively manage political changes, and embrace the boldness necessary to drive positive social impact—because even small efforts can lead to significant societal change.

Closing Remarks – Jennie Galbraith FICRS

The Chair of the ICRS, Jennie Galbraith, concluded the day by appreciating the excellent sessions and discussions held during the event. Jennie also eagerly welcomed everyone back next year.