LSEG: Are There Too Many Sustainability Collaborations?

Sustainability is an extremely broad field.
From regulations and compliance to energy or architecture, it is effectively impossible to be an expert across the board.
That’s where collaboration comes in – bringing together teams with different expertise can allow for problems to be shared and solved faster.
However, sustainability professionals are over-convened according to a study from social and environmental impact consultancy Skating Panda.
The 2024 Skating Panda Collaboration Barometer found that competitive mindsets are hindering collaboration.
“Competition is not the solution,” says Chris Turner, Executive Director of B Lab UK, the charity behind the B Corporation campaign.
“You end up in a zero sum game with a competition mindset, but everybody benefits from collaboration.
Where are sustainability collaborations failing?
Jane Goodland, Group Head of Sustainability at LSEG (London Stock Exchange Group), says: “Often, organisations come together with a common purpose and perhaps don't spend enough time really thinking about the infrastructure that supports that purpose.
“It really can be the difference between the success and failure of any collaborative initiative.”
The Barometer found two barriers to collaboration success: competitive mindsets and resource concerns.
These include concerns over antitrust, a fear of scrutiny, beliefs that collaboration will mean extra work and over-convening on sustainability.
It says that “many of these concerns are borne from experiences of poorly managed collaborations.”
The benefits of collaboration in sustainability
The report says that “almost all sustainability leaders feel they lack the resources required to tackle the challenges facing their organisation or sector”.
- Save time and money
- Generate scale and speed
- Share strengths
- Standardise approaches
How to collaborate successfully
Chris and Jane share their tips for successful collaborations with Sustainability Magazine.
“Know why you're doing it and be ready to actively contribute,” Jane says.
“There are so many collaborations. You can be philosophically aligned with an initiative, but you might just not have the bandwidth that year.
“I think that we are all kind of guilty of that.
“I think that effective collaborations require both the will to be involved and the muscle. Collaborations can fall down when people aren't prepared to allocate the resources.”
Chris says: “Make room for the softer stuff. What are we trying to solve in the most meta context here? What better world are we all aiming for? What values do we all ascribe to?
“I think what you need to do is work backwards from the legal point to see value being created in new ways through these collaborations.
“There, you unlock the ability to really innovate in the legal space and design mechanisms where value is created for everybody at the same time.”
The Barometer says there are three stages to a successful collaboration: clarify, convene and communicate.
- Clarify goals, roles and accountability
- Convene trusted leaders and neutral convenors
- Communicate transparently and publicise externally.
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