Beyond ESG: Rethinking Sustainability in a Changing Market

Episode 68 | 5.2.2025

Beyond ESG: Rethinking Sustainability in a Changing Market

For decades, ESG (Environmental, Social, and Governance) has been the dominant framework guiding corporate sustainability efforts. Yet, as businesses struggle to balance environmental responsibility with financial performance, cracks are beginning to show. On The Responsible Edge podcast, John Elkington, a pioneer of corporate sustainability and the creator of the Triple Bottom Line concept, challenged the effectiveness of ESG and argued for a new approach to market transformation.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

The Problem with ESG: A Flawed Framework?

John has spent over 50 years working with companies, NGOs, and policymakers to advance sustainability. While ESG was once seen as a step forward, he now believes it is holding businesses back from the real systemic change required.

“ESG was useful, but it was never the solution,” John explained.

“It was a risk-management tool, designed to help companies avoid reputational damage rather than drive fundamental transformation.”

The issue, he argues, is that ESG has been structured around individual corporate responsibility rather than systemic change. “Companies are told to ‘do less harm’ but aren’t incentivised to change the underlying economic system,” he said.

This is why many businesses publicly commit to ambitious sustainability goals but then quietly backtrack when market conditions shift. “Look at the recent reversals by companies like Mercedes-Benz, Ford, and even Unilever,” John pointed out.

“They made big climate commitments, but when profitability came under pressure, those promises were put on hold.”

The underlying market dynamics—what John calls the “magnetic fields” shaping business behaviour—have not changed.

“As long as markets penalise long-term sustainability and reward short-term gains, companies will continue to make decisions based on financial survival rather than long-term impact.”

 

Systemic Change Over Individual Action

John’s critique of ESG is not about abandoning corporate responsibility but about shifting the focus from individual companies to systemic market transformation.

He likens businesses to iron filings on a piece of paper, moving only in response to the magnetic forces beneath them.

“If we want real progress, we need to change the market dynamics that shape corporate behaviour—not just pressure individual companies to act responsibly.”

One example of this in action is the RE100 initiative, where major corporations like Google and Facebook have committed to 100% renewable electricity. “Over 400 companies have signed on, and their collective energy demand is greater than that of France,” John noted.

“That’s how you reshape a market—not by convincing one company at a time, but by changing the economics of an entire sector.”

This kind of market-wide shift is what John believes must replace ESG. “It’s not about making businesses slightly less bad,” he said.

“It’s about creating new economic forces that make sustainability the most profitable path forward.”

 

What Comes After ESG? Competitive Sustainability

If ESG is no longer fit for purpose, what should replace it? John believes the answer lies in competitive sustainability—a world where businesses compete not on how well they comply with ESG regulations, but on how effectively they drive systemic change.

“We need to build markets where sustainability is not just a moral choice but a financial advantage,” he explained.

“Imagine a world where the companies investing in climate solutions are the ones that outperform their competitors, rather than being penalised for short-term costs.”

One example of this is Sweden’s HYBRIT initiative, which is working to decarbonise steel production using hydrogen instead of coal. “The steel industry is one of the hardest sectors to decarbonise,” John said. “But if this technology scales, it could completely disrupt the market for carbon-intensive steel.”

Rather than relying on ESG reporting frameworks, John argues for market-shaping initiatives that drive industry-wide adoption of sustainable solutions. “We need to think in terms of economic tipping points,” he said.

“Once green alternatives become cheaper and more reliable than their fossil-based counterparts, the transition will accelerate.”

 

The Role of Governments: Rethinking Regulation

While corporate action is essential, John is clear that governments must play a bigger role in shaping sustainable markets. However, he believes the current regulatory approach is outdated.

“Most government policies around sustainability are designed to nudge companies towards better behaviour,” he said.

“But nudging isn’t enough when we need fundamental economic transformation.”

Instead, John advocates for bold interventions that rewire market incentives.

“We need policies that actively shape new industries—things like carbon pricing, large-scale subsidies for clean tech, and public-private partnerships that accelerate systemic innovation.”

Governments have done this before. John pointed to the post-WWII economic boom as an example. “After the war, countries didn’t just ‘nudge’ economies back to health—they built new economic systems from the ground up,” he said. “We need that same level of ambition for sustainability.”

 

Hope in an Era of Uncertainty

Despite his criticisms of ESG and the current state of corporate sustainability, John remains optimistic about the future.

“I’ve spent my career watching sustainability move from the fringes to the mainstream,” he reflected.

“We’re now at a tipping point where the next 10-15 years will see more change—good, bad, and ugly—than the last 50 combined.”

His advice for business leaders? Stop thinking in silos and start thinking systemically. “If you’re only focused on making your company greener, you’re missing the bigger picture,” he said.

“The real opportunity is in reshaping markets so that sustainability becomes the path of least resistance.”

John’s ultimate goal is to see business and sustainability fully aligned, not as opposing forces. “We need a world where the most sustainable companies are also the most successful,” he concluded. “That’s when we’ll know we’ve truly transformed the system.”

 

Conclusion: Moving Beyond ESG to a New Era of Sustainability

The era of ESG as a corporate box-ticking exercise is ending. What comes next is a deeper shift—one that moves beyond individual company efforts and focuses on changing the underlying market forces that drive corporate behaviour.

John’s vision is one of competitive sustainability, where businesses succeed not despite sustainability, but because of it. Achieving this will require restructuring incentives, creating new market forces, and moving away from incremental change towards systemic transformation.

“The future of business isn’t about who has the best ESG score,” John said.

“It’s about who is best positioned to shape the next economy.”

 

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Mining’s Social License: Why Community Trust is the Key to Sustainable Resource Extraction

Episode 67 | 2.2.2025

Mining’s Social License: Why Community Trust is the Key to Sustainable Resource Extraction

As the demand for lithium and other critical minerals surges to fuel the green economy, the mining industry is under increasing pressure to prove it can operate responsibly. While environmental regulations set the legal framework, the real determinant of a project’s success is something much less tangible: community trust.

On The Responsible Edge podcast, Lucy Crane, ESG & Sustainability Manager at Cornish Lithium, explained why securing mining’s “social license to operate”—the informal but essential approval of local communities—is just as important as obtaining government permits.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

Without Community Buy-In, There Is No Mine

A mining project isn’t just shaped by geology, technology, and financing. If local communities don’t support it, opposition can lead to delays, legal challenges, or outright project failure.

Lucy’s experience working in early-stage mineral exploration across Africa highlighted this first-hand. “In Morocco, Ethiopia, and Madagascar, I saw how little local communities were told about what was happening on their land,” she explained.

“We’d turn up with GPS devices and rock hammers, and people would assume mining was about to start immediately. But in reality, exploration can take decades before anything materialises.”

This lack of communication breeds fear and resistance. The same dynamic plays out closer to home, even in the UK, where Cornish Lithium is developing a domestic lithium supply chain. “When people hear ‘mining,’ they picture vast open pits, pollution, and destruction,” Lucy noted. “But today’s mining methods—like extracting lithium from geothermal waters—are far less intrusive. The challenge is helping people understand that.”

However, facts alone won’t change public perception.

“You can’t just tell communities, ‘Trust us, it’ll be fine.’ You have to show, consistently, that you’re engaging with them in good faith and that they will see tangible benefits.”

 

Going Beyond Compliance: Building Real Relationships

Regulations require public consultations, but ticking the legal boxes isn’t enough. “Regulation ensures a baseline, but it doesn’t create trust,” Lucy pointed out. “For that, you need ongoing, meaningful engagement.”

Cornish Lithium has taken an unusually proactive approach, opening up its work to the public long before commercial production begins. “We’re not mining yet, but we’ve already published three years of sustainability reports,” Lucy said.

“We host community open days, exhibitions, and site visits so people can see the process for themselves.”

Another key factor is local presence. Many large-scale mining operations are run by executives based thousands of miles away. In contrast, Cornish Lithium’s team lives and works in Cornwall. “We have to get this right because we’ll be the ones facing our neighbours in the pub,” Lucy said. “It’s not just a project—it’s our community too.”

 

The Consequences of Ignoring Community Trust

Mining projects that fail to secure community support often face financial and reputational risks. Across the world, projects worth billions have been delayed or cancelled due to public opposition.

“Even if a government issues a mining license, that doesn’t mean a project will move forward smoothly,” Lucy warned.

“Without local buy-in, you’ll run into roadblocks at every stage.”

The challenge is particularly acute in regions like the UK and Europe, where people are wary of new mining developments, even as governments push for greater domestic production of critical minerals. “Right now, most lithium comes from overseas, often with little transparency over environmental and social standards,” Lucy said.

“If we want a responsible, homegrown supply, we need to make sure communities see the benefits of having these projects on their doorstep.”

 

Rethinking the Benefits Model for Local Communities

Historically, mining towns experienced boom-and-bust cycles—thriving while extraction lasted, then declining when operations ceased. Lucy believes this model needs to change. She said;

“Mining shouldn’t be a short-term gain for a few—it should provide long-term benefits for local communities.”

This could mean:

  • Investing in education and skills training so that workers can transition into new jobs when mining operations end.
  • Developing local infrastructure that benefits businesses and residents beyond the mining sector.
  • Ensuring revenues support regional development, rather than just corporate profits.

For Cornish Lithium, this means thinking beyond raw material extraction. “If we can establish a full battery supply chain in the UK, we’re not just taking lithium out of the ground—we’re creating lasting economic value,” Lucy explained.

 

A New Approach to Responsible Mining

Mining companies that want to survive in the modern era must prioritise trust and transparency as much as technical expertise. Lucy’s insights offer a clear roadmap for how responsible mining can be done right:

✔ Start engagement early – Don’t wait for resistance to emerge; build trust from day one.
✔ Go beyond regulatory requirements – A social license isn’t about compliance; it’s about relationships.
✔ Ensure long-term community benefits – Profits should translate into lasting local improvements.
✔ Be locally accountable – Companies should have a presence in the communities they impact.

“If we want a truly sustainable future, we need to think about where materials come from, not just the finished products we use,” Lucy concluded.

“Mining doesn’t have to be destructive—it can be done in a way that creates long-term value for both the environment and society.”

 

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Bridging the Gap in Climate Tech Adoption: Unlocking Practical Solutions

Episode 66 | 29.1.2025

Bridging the Gap in Climate Tech Adoption: Unlocking Practical Solutions

Victoria Chen-Englert’s journey from marketing executive to climate tech advocate highlights the pressing need to close the gap between innovation and adoption in sustainable technologies. Speaking on The Responsible Edge podcast, she offered a pragmatic perspective on the challenges facing climate tech startups and how targeted solutions can accelerate progress.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

Breaking the Chicken-and-Egg Cycle in Climate Tech

Victoria underscored a key dilemma for climate tech startups: the high costs of R&D and scaling. “Climate tech is capital-intensive,” she explained.

“You need significant investment upfront for hardware, industrial machinery, and lab development. But without customers, you can’t scale to bring costs down. It’s a chicken-and-egg situation.”

This cycle slows the adoption of critical solutions like advanced batteries, green hydrogen, and other innovations needed to achieve global sustainability goals. While private funding plays a role, Victoria emphasised the importance of public intervention. “Governments must step in to bridge the gap, providing funding and policy incentives to move these technologies from the lab to the market,” she said.

 

Accelerating Connections with Data-Driven Scouting

Victoria’s work at Qurator, a B2B climate tech scouting platform, addresses this gap head-on. Qurator uses machine learning to identify and connect businesses with the most relevant climate tech solutions in just days. “Traditional tech landscape studies are expensive and slow, often taking months,” Victoria noted.

“We deliver actionable insights in 10 days, making it easier for organisations to find and adopt the right technologies.”

By streamlining the matchmaking process, Qurator removes friction, enabling companies to act quickly. “It’s about making sustainability solutions practical and accessible,” Victoria said.

 

Lessons from Climate Tech Startups

Victoria highlighted how many startups face barriers beyond funding. Scaling from lab prototypes to commercial products is fraught with challenges, including the need to demonstrate real-world reliability and integrate into existing systems. “Even when a solution works perfectly in a lab, it can fail in commercial settings,” she explained.

“That’s why building trust and offering clear value propositions are essential.”

She also pointed out the role of storytelling in driving adoption. “You can’t just talk about the technology itself. You need to show how it benefits people and businesses in tangible ways—whether that’s reducing costs, improving resilience, or enhancing reputation.”

 

Shifting Priorities Through Personal Experience

Victoria’s move into climate tech was inspired by personal experiences during the pandemic, including food shortages and extreme weather. “I started gardening out of necessity and quickly realised how interconnected our ecosystems are,” she shared.

“When rivers dried up and flash floods hit places like Germany, it became clear to me that climate change isn’t a future problem—it’s a now problem.”

Her lived experiences reinforced the importance of taking immediate, practical steps toward sustainability. “We don’t need to wait for perfect solutions. Small, meaningful actions can make a big difference,” she said.

 

A Collaborative Path Forward

Victoria envisions a future where collaboration between governments, businesses, and startups drives faster adoption of climate tech. “The public sector must fund early-stage innovation, while the private sector scales it,” she explained.

“It’s a shared responsibility.”

Her work at Qurator reflects this collaborative ethos. By connecting organisations with ready-to-implement solutions, she’s helping to remove the barriers that have long slowed the adoption of climate technologies. “Our mission is to ensure that the tools to combat climate change are not just available but used at scale,” she said.

 

Conclusion: From Ideas to Impact

Victoria Chen-Englert’s insights highlight the importance of focusing on implementation as much as innovation in climate tech. By addressing the barriers to adoption and fostering collaboration, her work bridges the gap between what’s possible in the lab and what’s needed in the real world. As she aptly put it, “The solutions are already here. Now, we just need to use them.”

 

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Governing for Impact: Bernie Bulkin’s Vision for a Sustainable Commercial World

Episode 65 | 26.1.2025

Governing for Impact: Bernie Bulkin’s Vision for a Sustainable Commercial World

The world of corporate governance and sustainable development often struggles to balance ambition with pragmatism. Bernie Bulkin, former Chief Scientist at BP and current chairman of VH Global Sustainable Energy Opportunities, has spent decades navigating this tension. Speaking on The Responsible Edge podcast, Bernie shared his insights on the evolution of corporate responsibility, the role of materials in global development, and how governance can drive meaningful change.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

From Academia to Industry: Learning to Lead and Influence

Bernie’s career began in academia, where he built a reputation as a leading researcher in physical chemistry. However, it was his transition to industry—first with Standard Oil of Ohio and later with BP—that shaped his approach to leadership. He explained;

“In academia, you have to persuade colleagues to join your vision. Industry taught me how to influence and drive change at scale.”

One pivotal moment came when BP shifted its focus from simply complying with environmental laws to actively reducing emissions. “This was a massive mindset shift,” Bernie recalled. “We moved from saying, ‘We’ll follow the law,’ to asking, ‘How can we continuously improve and reduce our impact?’ That was transformative, not just for the company but for me personally.”

 

Materials and the Engine of Development

Bernie’s latest book, The Material Advantage, explores how nations have historically achieved prosperity by mastering materials science and manufacturing.

“It’s not just about raw materials; it’s about transforming them into something valuable,” he explained.

Bernie used South Korea as an example, detailing how the nation transitioned from post-war devastation to economic power by focusing on education and scaling key industries.

However, Bernie warned that material innovation must align with sustainable principles. He highlighted food packaging as a cautionary tale: while it initially reduced waste and improved global access to food, its overuse has now become a significant environmental issue. “We need to rethink packaging entirely—dematerialising where possible and making better use of resources,” he said.

 

Governance: A Holistic Approach to Sustainability

At the heart of Bernie’s vision for a sustainable future is a fundamental shift in corporate governance. He proposed a model where customers—not traditional boards—govern companies. “Imagine a water utility governed by its customers,” he suggested.

“These stakeholders would prioritise decisions that balance economic, environmental, and social impacts.”

This idea aligns with the principles of sustainable development, which Bernie defines as living within environmental limits, building equitable economies, and fostering participatory governance. “Sustainable development isn’t just about the environment,” he stressed.

“It’s about creating systems that work for people, profit, and the planet.”

 

Learning from Failure and Arrogance

Reflecting on his time in the oil and gas industry, Bernie acknowledged the duality of success and failure. “Arrogance is a dangerous byproduct of success,” he said, citing the Gulf of Mexico oil spill as a cautionary example.

“When organisations believe they can do no wrong, they stop questioning themselves. That’s when things go awry.”

This humility has informed Bernie’s current roles on corporate boards and in venture capital, where he focuses on fostering accountability and continuous improvement. “Good governance means asking hard questions and making decisions that aren’t just about short-term gains but long-term impact.”

 

The Future of Sustainable Development

Looking ahead, Bernie sees an urgent need to address material waste in construction, food packaging, and manufacturing. He pointed to innovative companies like QFlow, which helps reduce construction waste, as examples of how industries can lead the way in sustainable practices.

But Bernie’s ultimate vision is broader: a world where governance, innovation, and sustainable development are fully integrated. He said;

“If we want to tackle climate change and build a just society, we need to rethink not just what we do but how we do it.”

 

Conclusion: A Visionary Call to Action

Bernie Bulkin’s career offers a roadmap for how leadership, governance, and innovation can intersect to create meaningful change. From influencing BP’s approach to emissions reduction to rethinking how materials drive development, Bernie’s contributions have left a lasting impact.

His message is clear: sustainability isn’t just a technical challenge—it’s a governance challenge. By reimagining how companies are led and how resources are used, we can build a future that prioritises equity, resilience, and long-term prosperity.

 

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Game On: How Attain is Transforming Learning in Sustainable Finance

Episode 64 | 22.1.2025

Game On: How Attain is Transforming Learning in Sustainable Finance

The financial services industry is often criticised for its rigidity in training and development, prioritising compliance over meaningful learning. Nick Reed, COO of Attain and a seasoned veteran of the financial world, is on a mission to change this dynamic. Speaking on The Responsible Edge podcast, Nick shared how Attain’s innovative game-based learning approach is reshaping how financial professionals engage with critical topics like sustainable finance.

Listen to the full podcast episode on YouTube, Spotify, and Apple Podcasts.

The Problem: Ticking Boxes Instead of Learning

Nick’s extensive career, spanning decades in leadership roles at HSBC and other financial institutions, gave him firsthand insight into how learning has evolved—often for the worse. “Training has become a tick-box exercise,” he explained.

“It’s more about meeting regulatory requirements than fostering true understanding.”

This shift, exacerbated by the rise of mandatory digital training and remote work during COVID-19, has stifled the organic, peer-to-peer learning that once flourished in workplaces. “The water cooler conversations where people ask questions, share experiences, and problem-solve together have largely disappeared,” Nick noted. “We’ve lost that social element of learning.”

 

Attain’s Solution: Learning Through Play

Enter Attain, the game-based learning company Nick co-founded to tackle these issues head-on. At the heart of Attain’s approach is the idea that learning should be engaging, collaborative, and purpose-driven. “Humans learn best when they’re having fun,” Nick said.

“We’ve taken this principle and applied it to sustainable finance, creating an environment where professionals can learn with and from each other.”

The centrepiece of Attain’s programme is a live, facilitated game that immerses participants in a fictional but relatable scenario: managing a bank on the virtual island of Avalon. Teams of five make decisions on lending, savings, and sustainability, grappling with the complexities of balancing profitability, ESG impact, and stakeholder expectations.

“We don’t give participants all the information upfront, just like in the real world,” Nick explained.

“This forces them to work as a team, think critically, and make trade-offs.”

 

Why Games Work

The game-based format is not just a gimmick; it’s a deliberate design choice rooted in cognitive science. “Play is fundamental to how humans learn, especially through making mistakes,” Nick said.

“When people feel safe to experiment, they absorb lessons much more effectively.”

By creating a psychologically safe space, Attain enables participants to challenge assumptions and explore new ideas without fear of judgment. This approach has proven particularly effective in promoting cross-departmental learning. “When marketing people, compliance officers, and relationship managers play together, they gain a deeper appreciation of each other’s challenges,” Nick shared. “That kind of cross-functional understanding is invaluable.”

 

Making Sustainability Relevant

Attain’s focus on sustainable finance is timely and impactful. “Sustainable finance isn’t just about meeting ESG targets; it’s about understanding the trade-offs and risks involved,” Nick said. The game helps participants grasp these nuances by simulating real-world scenarios, such as the reputational risks of greenwashing or the challenges of aligning investor expectations with community needs.

Unexpected events during the game, like a climate-related crisis on Avalon, further deepen the learning experience. “These events force participants to consider the broader implications of their decisions,” Nick explained.

“It’s about connecting day-to-day actions to long-term sustainability outcomes.”

 

The Results: Transforming Learning Cultures

The impact of Attain’s approach is already evident. Financial institutions that have adopted the game report improved engagement and a stronger culture of learning. “People leave the game not only with new knowledge but with the confidence to start critical conversations within their organisations,” Nick said.

One key takeaway for many participants is the importance of collaboration. “The game shows that no single department has all the answers. Solving complex problems like sustainable finance requires input from across the organisation,” Nick noted.

 

A Vision for the Future

Nick sees immense potential for expanding Attain’s model to different focus areas. “The structure of the game is adaptable to other sectors and topics, like cybersecurity or financial crime,” he said.

“It’s the vehicle—the game-based, social learning approach—that’s the magic sauce.”

Looking ahead, Nick is optimistic about the role learning can play in transforming industries. “If we can make learning enjoyable, engaging, and impactful, we can unlock the full potential of our brightest minds,” he concluded.

 

Conclusion: Reigniting Passion for Learning

Nick’s work at Attain is a reminder that meaningful change often starts with how we learn. By prioritising engagement and collaboration, Attain is not just teaching sustainable finance—it’s rebuilding the culture of learning in financial services. As Nick puts it,

“Learning should inspire, not just inform. That’s how we create lasting change.”

 

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