We are in the final inning. That sustainable future we all want? Not possible — unless companies work together across both sectors and shared value chains to innovate, share risks and overcome collective challenges.
After 20 years of helping businesses work — often in isolation — on their ESG risks and opportunities, I have come to realize the only path forward is through sector collaboration. Without that collaboration, the challenges are too great, the hurdles too high, the investments too costly, the metrics obscure and the pathway too murky.
By working on their ESG issues together, businesses can:
- Learn about best practices, trends and risks
- Develop transition pathways
- Co-innovate and collectively fund solutions
- Engage suppliers and other sectors
- Partner with government on sustainable innovation and public policy
- Mobilize capital and transform markets.
Through sectoral collaboration, businesses can steal bases. They can leverage their influence, reach and scale to drive change. Often fearful of transitioning on their own, businesses find safety in numbers when working together. And one place to find these numbers is in industry, trade and professional groups or associations.
