The Regeneration Movement: How Businesses Can Create Positive Environmental Impact

A new concept called "regeneration" is gaining steam in the corporate sustainability world, as shared in a recent article from the BBC. Regeneration involves companies completely rethinking their business models, supply chains, and operations to have an actively positive environmental impact rather than just minimizing negative impacts.

As the article explains, "Instead of just responding to the business effects of climate change, leaders at this year's World Economic Forum are discussing creating a proactive positive impact." Consumer sentiment is also driving this change - 52% of Americans believe corporations can significantly help mitigate climate change.

Companies like Patagonia are leading the charge on regeneration. As the article states: "Rather than just trying to, say, minimize the amount of cotton it buys for its clothes, for example, the cotton it uses for its products has either been recycled or is grown using regenerative organic practices..."

Our firm, McNees Group, specializes in helping companies improve their ESG performance. We believe the concept of regeneration aligns well with the "S" in ESG - creating social and environmental benefits beyond just shareholder returns.

Here are some ideas we recommend to clients looking to implement regenerative practices:

• Rethink supply chains to source sustainable, ideally regeneratively produced materials
• Offer bonuses/incentives to suppliers for meeting regeneration criteria
• Invest in projects that actively remove carbon from the atmosphere
• Analyze and reinvent production processes to mimic closed-loop natural ecosystems
• Set ambitious "handprint" goals that measure positive impacts

The shift towards regeneration seems increasingly urgent and economically prudent, given the mounting impacts of climate change globally. As Jesper Brodin, CEO of Ingka Group, said at Davos: “I start with the rationale, ‘How could it be possible to build a future business model on depletion of [natural] resources?’ It’s simply the absolute worst idea."

At McNees Group, we fully agree - that a regenerative approach is key for future-proof and purpose-driven businesses. Contact us to learn more about our sustainability consulting services.

Source Article: https://www.bbc.com/worklife/article/20240119-davos-2024-the-future-of-sustainable-business-is-regeneration

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