In trying times, leaders must lean into adaptability, creativity and ideation to meet sustainability targets.

Building sustainable practices into our businesses has been a non-negotiable for some time. We know that customers want to see it, and we know these practices can give us a competitive advantage; whether that’s by starting with sustainability as our MO (like TOMS or Who Gives a Crap – aligning their offering with the modern consumer’s conscience), or by integrating it into our business operations (like multinational Unilever, whose ‘Sustainable Living Plan’ has saved them 1.7 billion in costs).

Moving forward, sustainability is going to play a central role in how we adapt in times of volatility and rapid change. Companies are facing unprecedented challenges, and whilst the temptation may be to cut back and close off, the smarter choice is to innovate in order to solve the new problems we face. The ability to stay agile is what will protect us in the long term – because it doesn’t look like the world will be slowing down any time soon.

So, let’s get specific about this VUCA world we find ourselves in. First, we have the economic landscape. The knee jerk reaction to financial difficulty can leave business owners cutting back on some of the most important policies they have in place to protect their future - things like DEI and environmental responsibility suddenly end up back in the ‘nice to have’ pile.

These decisions must be thought through, because somewhere down the line, neglecting these issues will likely leave a business in more financial distress. There’s plenty of research to support this, like the fact that 75% of millennials change their buying habits to favour environmentally friendly solutions. In these cases, going back to the drawing board on strategy could be the best bet. How do we reimagine the whole thing? When we look to the potential challenges of the next five years, how will our strategy evolve? Re-imagination might seem drastic when a few cuts here and there could protect the business in the short term, but we simply must accept that the whirlwind around us isn’t going to be dying down any time soon.

Something else that isn’t going to be dying down any time soon is the advance of tech. And although it can take significant resources and employee upskilling to adopt new technologies, they may well hold the key to more innovative and sustainable solutions for our businesses. There is plenty of inspiration out there, from companies integrating AI into their operations, to companies engineering innovative solutions to global challenges.

Hugo Boss have launched a virtual changing room, using Reactive Reality’s AR solution PICTOFiT, where customers can create their own avatar and try clothes from the online store on ‘their’ body, driving down returns and reducing waste, whilst enhancing customer service in a way that increases sales. After shooting up 46.5% during the pandemic, online retail continues to grow steadily, so when each return costs the retailer an average of £20, an innovative shift makes good business sense on all fronts.

Then you have companies using their clout to affect big picture issues. For example, in response to the UK’s economic situation, BT have accelerated their full fibre roll out to reach 26 million by 2026, improving connections and fuelling economic recovery. And HSBC have partnered with the World Resources Institute and WWF to ensure climate solutions become a commercial reality.

Smaller outfits like Energym are retrofitting existing equipment with its patented battery and charging technology allowing human energy to be re-used. Apparently one spin-class can power a home for 24 hours! And SparkEV are looking ahead to the future of electric vehicles and troubleshooting in advance, developing AI technology to provide accurate charge information based on live data, helping to build driver trust and ensure greater sales in the sector.

Some of these companies were founded to offer green solutions, some are integrating sustainability into their business model; all are thinking ahead and using the power of innovation to protect the future of their businesses - something we should all be taking extremely seriously.

If you’re not sure where to start, start by consolidating your vision – diagnose the problem, evaluate your strengths and weaknesses, and think carefully about the opportunities and threats your business faces. Pay close attention to whether you are currently equipped to deliver this vision – especially in terms of your team. Innovation relies on a great team of diverse thinkers working together toward a common aim.

When times are tough, it's hard to keep that growth mindset going, but try with all your might to resist cynicism as you ideate - it will stifle your ideas and limit your potential. It’s true that 95% of product innovations fail, but rather than let that discourage you, think about the fact that 84% of consumers make purchase decisions based on whether companies have a forward thinking and innovative approach. And it's not just consumers looking at your sustainability strategy; investors are also keen to see you looking to the future with your conscientious cap on. A record $70.1 billion of venture capital went to climate tech companies in 2022 and even if you’re not working in that sector, an inspirational sustainability strategy will stand you in good stead to secure funding.

The way you lead your team into the future will dictate your business success, so gather that creative energy and keep driving forwards. They key is to stay agile. In the world we live in, we cannot make sustainable choices without also having the ability to adapt to change, because let’s face it - change is going to keep coming.