Last November, we welcomed 21 Future-Fit Pioneers: forward-thinking organizations who understand that we need to completely transform how we do business if society is to flourish in the 21st Century.
Future-Fit Pioneers know that true leadership is not about being in the lead: it’s about heading for the right destination and lighting the way for others to follow.
Now, LD Pensions, WHEB and thl have begun to do just that by releasing Statements of Progress, committing to maximize their influence as a force for good and work towards eliminating any negative impacts.
The Level One Statements of Progress released this month use the Future-Fit methodology to identify the business’ positive purpose, as well as the areas in which each business activity might pose a risk to society and therefore should become a priority for immediate action.
LD Pensions’ Head of Equities Kristoffer Birch says: “Future-Fit is a framework that helps us assess sustainability in a meaningful way. As a pension fund for a wide and diverse group of members, we need to look at sustainability in a way everyone can agree on. This journey of becoming environmentally restorative, socially just and economically inclusive is just that. Future-Fit has shaped the way we allocate capital towards positive pursuits investments, as well as how we assess the sustainability of our investments in general.”
Seb Beloe, Head of Research at WHEB, adds: “We are doing this because we think it will make us a better business. Our stakeholders want to work with and for businesses that they can believe in and trust. The Future-Fit framework is a great platform that will help us make robust business decisions.”
Juhi Shareef, Chief Responsibility Officer at thl, agrees: “Our public commitment to the Future-Fit Business Benchmark in 2019 was an acknowledgement that a change in pace is required to tackle the complex issues the world is facing. Since then, the Australian and US bushfires and the global impacts of COVID-19 on the travel and tourism industry have tested our resilience and reinforced our commitment to change. We believe our commitment to becoming a Future-Fit Business will support thl’s long-term sustainability and resilience in the face of future disruption.
We are proud to be one of the first Future-Fit Pioneers, transparently disclosing our progress and sharing our journey. Our recent focus has been on prioritizing our Future-Fit Goals to ensure we are addressing the material challenges for our business and industry at a system level, and we continue to embed Future-Fit thinking across our business.”
In addition to internal transformation, Future-Fit Pioneers are committed to sharing their journey publicly. Future-Fit’s Impact Valuation Lead, Kevin Horgan, comments: “The public commitment made by over twenty companies from a variety of industries and geographies last November was a very significant step on its own. These first Statements of Progress show that these companies are willing to be transparent about the great progress they are making, and also acknowledge the challenges still ahead. This ambitious commitment and authentic communication will help drive positive action, which is ultimately what this is all about.”
Kristoffer Birch of LD Pensions, agrees: “We are aware that we will look poor on some important measures, but we are also aware that that is what is needed. It is not greenwashing but positive changes that will create a better world. The Future-Fit tools make it really easy to get a first assessment of your company and implement changes from there.”
So what would our Pioneers say to other organizations considering whether to take this step?
thl’s Juhi Shareef has an answer: “For business, society and the environment to thrive, we must create system value by becoming genuinely sustainable: responsible, regenerative and resilient. So be bold, find your why, engage your stakeholders and make a start.”