Creating a sustainable future is everyone’s responsibility and more so for business leaders who want to leave behind a legacy of protecting the environment for the next generation. Climate change is an urgent and immediate matter and one that needs our serious and timely attention.
The growth of any economy is dependent on operating in a healthy society and a safe environment that’s not fighting the aftermath of natural disasters. Your employees and customers are fighting for measures that support net zero emission and these voices are becoming louder and louder. Therefore, sustainability needs to be at the core of every business strategy and that’s the only way forward for a safer and productive future.
Also it is vital for business leaders to become climate advocates as well. Boardrooms are being asked not just for their targets but also for their climate transition plans. Therefore, CEOs and stakeholders need to question their product and services, their operating models and how they can leverage their influence to impact positive change at every level. The rate of decarbonisation is still too slow and more visible efforts need to be implemented by business leaders.
The number of countries pledging to achieve net zero emissions over the coming decades is rising – which is a good thing. But even if these governmental pledges were all achieved, experts warn we’ll still be far from what’s required to bring global energy-related carbon dioxide emissions to net zero by 2050 and give the world a chance of limiting the global temperature rise to 1.5 °C.
That’s why everyone – every company, every organisation, and every individual – must take the situation seriously and do their part. There are ways to transition to a net zero energy system by 2050 while ensuring stable and affordable energy supplies, providing universal energy access, and enabling robust economic growth. Any CEO taking this step must bear in mind that this will not only positively affect the environment but will also create loyal customers as well. In the long-run it will only add to the growth of your business for generations to come.
We all just need the will to commit.
As a CEO – not to mention a father, business leader and responsible human being – here are four strategies I’m deploying to help reach the net zero target – because every effort counts right now.
- Smarter energy, water and waste
In the hospitality sector, energy, water, and waste account for the bulk of emissions – so reducing these is high on my agenda. Energy consumption alone produces up to 60 percent of a hotel’s carbon emissions and represents around 6 percent of operating costs.
Addressing these big three factors, we have discovered, can cut an accommodation’s emissions by 32 percent. Not only is it a significant reduction, but most associated measures have a positive business case over a 15-year investment period. In short, it’s good for business too. That is why I have partnered with National Energy Efficiency and Conservation Authority for group wide transparent review of all areas we can address to help us reach net zero.
- Renewable energy
Reducing consumption is one side of the energy equation – the other involves minimising reliance on fossil fuels. Depending on the geography and specific circumstances of each individual accommodation, we do all we can to minimise the carbon footprint by buying renewable energy from the grid. For most of the Hashoo Hotel properties, we look to produce renewable energy on site by already having installed solar panels and supplying energy to the properties from there.
- Backing new safe water solutions
Global demand for safe water consumption brings with it significant challenges across security, health, environmental concerns, economic productivity, social cohesion, and gender discrimination.
Fortunately, there are many innovative companies leading this next new business frontier – and I am proud to have helped get one of them get off the ground. The company is called EveryWater and is a Pakistani start-up that pioneered a ground-breaking new filtration technology that uses an intrinsically anti-microbial membrane to provide safe, clean water through a range of household and industrial products.
- Partnering with employees
I am committed to constantly revisiting our corporate strategy and investing the time to train employees on the importance of sustainable practices at workplace and beyond. At Hashoo we assign ‘green teams’ who become advocates of conservation and cleaner environment. Who influence other team members and build a community within a community.
This approach can have a powerful impact as employees become inspired and come up with ideas for sustainable practices within their own departments as well as their families and communities. Peer to peer education is the best way to create word of mouth positive messaging as we all push towards a brighter, greener future.