In a world where sustainable investing has become increasingly prominent, the reality of impact investing often falls short of expectations. Many companies claim to have made significant strides toward environmental and social responsibility, but in truth, much of this can be attributed to a phenomenon known as “greenwashing.” Greenwashing occurs when companies exaggerate or falsely represent their sustainability efforts, leaving investors questioning the true impact of their portfolios. In a recent episode, Roman Cassini, Head of ESG at Hosking Partners, shared his invaluable insights on how to navigate these challenges and approach investing with a more long-term mindset.

Roman Cassini’s background is anything but conventional. Having started his career as an officer in the British Army, he then transitioned to a strategic role in the UK Ministry of Defence before moving into finance, where he now leads the ESG efforts at Hosking Partners. His unconventional path offers a unique perspective on the intricacies of impact investing, especially in relation to tackling greenwashing and promoting active ownership.

 

The Rise of Greenwashing in Sustainable Investing

Greenwashing has become a significant concern as more investors are seeking to make a positive difference through their investments. Companies eager to capitalise on this growing demand often overstate their sustainability credentials to attract environmentally conscious investors. However, as Roman highlighted during the conversation, this trend undermines the real goals of ESG (Environmental, Social, and Governance) investing.

“Greenwashing is a major issue. Investors want to make an impact, but the real challenge is in accurately measuring that impact. Many companies make bold claims, but they often fall short of delivering meaningful results,”

Roman noted.

The crux of the problem, as Roman explained, lies in the difficulty of quantifying the real-world impact of investments. While financial professionals are adept at building models to measure profitability, calculating the long-term environmental or social impact of a company’s activities is far more complex. ESG issues, such as climate change, deforestation, and human rights violations, are not easily translated into figures or metrics that can fit neatly into financial models.

“There’s a fundamental issue with measurement in the sector,” Roman stated. “Investors want to quantify the impact, but the reality is far more complicated. We often deal with long-term goals, like net-zero targets, that don’t have immediate, measurable outcomes. Yet, the pressure to show progress leads to companies overstating their sustainability credentials.”

 

The Long-Term Approach to ESG Investing

Roman strongly advocates for a long-term approach to ESG investing, one that prioritises meaningful impact over short-term gains. At Hosking Partners, where the focus is on holding stocks for an average of five to ten years, this long-term thinking is embedded into their investment strategy. Unlike many investment firms that prioritise quick returns, Hosking Partners takes a broader, more patient view of the market, seeking to invest in companies that align with sustainable practices over the long haul.

“We need to look beyond the immediate gains and think about the broader picture. Climate change and energy transitions are long-term challenges, and our investment strategies need to reflect that,” Roman said.

This perspective is crucial when dealing with issues such as climate change, which require sustained efforts over decades. While some investors may shy away from long-term strategies due to uncertainty and volatility in the market, Roman emphasised the importance of sticking to a principled approach.

“Short-termism often drives poor decisions. When investors focus only on quarterly earnings or short-term stock price movements, they risk ignoring the bigger picture. In contrast, a long-term perspective allows us to see through the noise and identify the companies that will succeed in the future,”

he explained.

 

Active Ownership: A Tool for Positive Change

One of the most effective ways for investors to ensure that their money is driving real-world impact is through active ownership. This involves engaging with the companies they invest in, not just to earn returns but to influence their behaviour and ensure they are adhering to ethical and sustainable practices. As Roman pointed out, investors have a critical role to play in shaping the future of corporate responsibility.

“As shareholders, we have the ability to influence corporate behaviour. We can engage with management, push for greater transparency, and hold companies accountable for their ESG commitments,”

Roman said.

Hosking Partners takes this approach seriously, actively engaging with the companies in their portfolio to drive positive change. Whether it’s advocating for stronger environmental policies or ensuring companies are managing their supply chains responsibly, Roman believes that active ownership is a key part of responsible investing.

“There’s a responsibility that comes with being an investor. It’s not just about making money; it’s about ensuring that the companies we invest in are future-proof, both economically and environmentally,” he added.

 

The Challenge of Measuring Impact

A recurring theme throughout the podcast was the difficulty in measuring the true impact of ESG investments. While some aspects, such as a company’s carbon emissions, are relatively straightforward to quantify, others are far more ambiguous. Roman gave the example of scope 3 emissions, which include indirect emissions from a company’s supply chain and the end-use of its products.

“It’s relatively easy to measure a company’s direct emissions, but when you get into scope 3 emissions, it becomes much more complicated. Should a car manufacturer, for example, be held responsible for the emissions from drivers using its cars? Or should that be the responsibility of the petrol companies?” Roman asked.

This ambiguity makes it difficult for investors to assess the real impact of their investments. Roman pointed out that while the financial industry has made significant progress in measuring ESG factors, there is still much work to be done to develop more accurate and reliable metrics.

“We’ve poured huge amounts of money and time into trying to solve this quantification problem, but in my view, it hasn’t really been solved. There’s still a long way to go in terms of measuring the impact that investments have on the environment and society,” Roman explained.

 

The Importance of Not “Deselecting” Yourself

Throughout the conversation, Roman shared his personal experiences and the lessons he’s learned throughout his career. One of the key messages he emphasised was the importance of not “deselecting” yourself from opportunities, particularly in industries like finance, where non-traditional backgrounds are often underrepresented.

“I think one of the most important lessons I’ve learned is to never deselect yourself from something. It’s easy to feel like you don’t fit the mould, especially in industries like finance, but I’ve found that my diverse background has actually been an asset,”

Roman said.

He encouraged listeners to embrace their unique experiences and not to be discouraged by imposter syndrome. Whether transitioning into a new field or pursuing a leadership role, Roman’s advice is to remain confident and not shy away from opportunities.

“Everyone suffers from imposter syndrome to some degree. The key is not to let it guide your decisions. There’s absolutely a role for generalists in finance and other industries. It’s about recognising the value of your diverse experiences and not taking yourself out of the game before you’ve even had a chance to play,” he concluded.

A Call for Transparency and Long-Term Thinking

Roman Cassini’s insights into impact investing and greenwashing serve as a powerful reminder of the importance of transparency, active ownership, and long-term thinking in today’s investment landscape. While the challenges of measuring real impact remain, investors can make a difference by engaging with the companies they invest in, holding them accountable, and pushing for meaningful change.

As the world faces unprecedented challenges like climate change and the energy transition, the role of ESG investing has never been more critical. By adopting a long-term perspective and refusing to be swayed by short-term gains, investors can ensure that their money is not just generating returns, but also making a positive impact on the world.

In the words of Roman, “We need to be honest about the impact we can have and ensure that we’re not overstating what’s being achieved. Real change takes time, and we have to be prepared to play the long game.”

With growing awareness of environmental impact, the music tech industry faces a crucial moment to rethink its practices and embrace sustainability as a core value, shaping a greener future for music and technology alike. Andy Land, Head of Sustainability at the Focusrite Group, is at the forefront of driving change within this sector. With a passion for both music and environmental responsibility, Andy’s journey is a compelling narrative of how one can be “unreasonably effective” in advocating for sustainability. This article delves into the key themes and insights from Andy’s recent podcast appearance, where he shared his strategies, challenges, and vision for a more sustainable music tech industry.

 

A Lifelong Commitment to the Environment

Andy Land’s commitment to sustainability is deeply rooted in his early years. From a young age, he was fascinated by the environmental challenges facing our planet. “I remember reading about fossil fuels, and that they are a finite resource, and think to myself, when are these gonna run out, right? We need to find some alternatives,” Andy recalled during the podcast. This early curiosity about environmental issues set the stage for his future career.

Andy’s passion for sustainability was paralleled by his love for music and technology. He studied Music and Sound Recording at the University of Surrey, a course that combined his interests in music, engineering, and product design. Reflecting on his choice of study, he noted, “If you want to be a good audio engineer, you have to have some musical understanding of how the music should be and how it should be produced.” This dual passion for music and environmental responsibility would later define his career trajectory at Focusrite.

 

Integrating Sustainability at Focusrite

Since joining Focusrite over a decade ago, Andy has played a crucial role in embedding sustainable practices within the company. His journey began modestly, with efforts to reduce waste in the service department, such as switching to biodegradable bubble wrap. However, as Andy’s understanding of sustainability deepened, so did his ambitions. He eventually proposed the creation of a dedicated sustainability role, which he now occupies as the Head of Sustainability.

One of Andy’s most significant achievements at Focusrite has been the development of a comprehensive Life Cycle Assessment (LCA) database. This innovative tool allows the company to track the carbon footprint of every product in near real-time.

“We spent the first year of my role disassembling product after product, trying to work out what goes into them, building up my own little database of materials,”

he explained. This meticulous process has enabled Focusrite to gain a granular understanding of its environmental impact, from raw materials to the final product.

Andy’s approach is both pragmatic and ambitious. He understands that meaningful change often begins with “low-hanging fruit” – simple, actionable steps that can have a significant impact. For example, Focusrite has reduced the use of single-use plastics in packaging and switched to biodegradable alternatives. “We’ve been keeping ourselves busy while I’ve been trying to quantify everything,” he said, emphasising the importance of balancing immediate actions with long-term goals.

 

Challenges and Opportunities in the Music Tech Industry

While Focusrite has made substantial progress, Andy acknowledges that the journey towards sustainability is fraught with challenges. One of the key difficulties is the lack of baseline data. “We had no baseline as such to talk of, and we sell, like I mentioned before, 400 or so products, so it’s quite a lot,” he noted. The diversity and complexity of products in the music tech industry make it challenging to standardise sustainability measures.

Furthermore, the music tech industry often operates under the radar compared to more visible sectors like live music or streaming.

“Music tech is almost, at times, that forgotten area of the music industry in terms of the potential impact it can have from a sustainability perspective,”

Andy pointed out. He stressed the need for greater transparency and collaboration across the industry to drive systemic change.

Despite these challenges, Andy remains optimistic about the future. He believes that the music tech industry is uniquely positioned to lead by example. “If we go to that factory, we get them using recycled plastic or recycled aluminium hopefully in the future, and we can get them to shift that as the default for all their other customers, maybe we can start to move the dial,” he suggested, highlighting the potential for widespread impact through supply chain innovation.

 

The Power of Collaboration and Collective Action

Andy is a strong advocate for collaboration, both within and beyond the music tech industry. He co-founded the Greening Music Tech group, a platform that brings together professionals committed to sustainability in music technology. “We just keep gathering up people here interested in this stuff,” he said, reflecting on the group’s growth from a handful of members to nearly a hundred. This community of practice serves as a crucial forum for sharing knowledge, best practices, and resources.

Andy also emphasises the importance of transparency in driving industry-wide change. He encourages companies to be open about their sustainability efforts, even when they fall short.

“We should be sharing everything that we’re doing to date, really,”

he argued. This openness not only fosters trust but also encourages other companies to follow suit, creating a ripple effect across the industry.

 

Innovating for a Greener Future

Looking to the future, Andy is committed to pushing the boundaries of what is possible in music tech sustainability. He envisions a future where products are designed for sustainability from the ground up, with an emphasis on recyclability and minimal environmental impact. “It’s not just taking one material, swapping it out for another, and shipping the product as usual,” he explained. “It’s can we start to change the design of the product so it’s either really easy to recycle at the end of life or does it use less material.”

Andy’s vision extends beyond Focusrite. He is actively involved in the Music Industries Association (MIA), where he is working on a UK-wide net zero transition plan for the music industry. This ambitious project aims to provide a roadmap for companies across the sector, from small music shops to large manufacturers.

“One of the first things hopefully I’ll do in the next few months is release an MIA-branded UK net zero transition plan for the music industry,”

he shared, demonstrating his commitment to driving change at a national level.

 

Conclusion: Leading by Example in the Music Tech Industry

Andy Land’s journey as a sustainability leader in the music tech industry is a testament to the power of passion, innovation, and collaboration. Through his work at Focusrite and beyond, he has demonstrated that it is possible to balance the demands of a dynamic industry with the imperative of environmental responsibility. As he continues to push for greater sustainability in music technology, Andy’s efforts serve as an inspiring example for others in the industry to follow.

In a world where every action counts, Andy Land is proving that being “unreasonably effective” in sustainability is not just a goal, but a necessity. His work reminds us that the journey towards a greener future is a shared responsibility, and that together, we can make a significant impact.

In the latest episode of The Responsible Edge Podcast, we sat down with Alina Arnelle, the Chief Sustainability Officer at BeCause, a SaaS platform specialising in ESG disclosures, and sustainability strategies. Alina’s journey from a career in fashion design to a leader in sustainability provides a unique perspective on how data can be leveraged to push businesses beyond mere compliance, enabling them to focus on sustainable innovation. This article explores the key themes and insights from the conversation, including the importance of data in sustainability, the evolution from compliance to innovation, and the transformative power of platforms like BeCause.

 

From Fashion to Sustainability: A Journey of Transformation

Alina Arnelle’s career began in a world far removed from her current focus on sustainability – fashion. Trained in Italy and France and having worked with high-profile brands like Alexander McQueen and Peter Pilotto, Alina achieved her childhood dream of becoming a fashion designer. However, she quickly became disillusioned with the industry’s demanding and often toxic environment.

“I didn’t want to be another casualty for someone else’s dream,”

she shared, reflecting on her decision to leave fashion despite her success.

Her pivot from fashion to sustainability wasn’t just a career shift; it was a profound change driven by a desire to have a more meaningful impact. “I wanted to come back stronger and make it better,” she explained. This decision led her to study environmental science and sustainability, earning a Master’s degree in Sweden, a global leader in sustainable practices.

 

The Role of Data in Driving Sustainability

In her role at BeCause, Alina has been at the forefront of integrating sustainability into business operations. She emphasises that data is crucial in transforming how businesses approach sustainability. “Most sustainability people now are basically controllers, handling compliance and reporting,” Alina notes. “We want to change that narrative.”

Traditionally, many businesses have viewed sustainability through the narrow lens of compliance – ensuring they meet regulatory requirements without necessarily integrating sustainable practices into their core operations. However, platforms like BeCause offer a different approach. By digitalising and automating the collection, coordination, and communication of sustainability information, BeCause allows businesses to manage their data more efficiently. This efficiency frees up time and resources, enabling companies to focus on genuine sustainability initiatives rather than just ticking compliance boxes.

“Data needs to live its best life,”

Alina asserts. For data to drive meaningful change, it must be more than a static set of numbers; it needs to be dynamic and actionable. Platforms like BeCause facilitate this by providing tools that help companies not just collect data but also analyse and apply it in ways that align with their strategic goals.

 

Moving Beyond Compliance

One of the key themes Alina discussed was the need for businesses to move beyond mere compliance and embrace innovation in their sustainability efforts.

“There’s a lot of fear towards sustainability, that it’s going to steal resources from other departments or slow down product development,”

she says. This fear often leads companies to take a cautious, compliance-only approach rather than investing in innovative practices that could drive real change.

However, Alina argues that true sustainability requires businesses to look beyond short-term costs and consider the long-term benefits. She believes that by using data strategically, companies can identify areas where they can make the most significant impact. “If you don’t waste energy on hiding things, that energy can be used for so many good things,” she explains.

The focus should be on quality over quantity. Instead of attempting to address every sustainability issue at once, companies should identify a few key areas where they can make a real difference. “The more we choose, the better we look,” Alina says, referring to the misconception that addressing more sustainability issues is always better. She compares this approach to a fine dining restaurant menu – where fewer, well-executed options often lead to a better experience. Similarly, focusing on fewer but more impactful sustainability initiatives can lead to better outcomes.

 

The Power of Transparency and Honest Communication

Alina also emphasises the importance of transparency and honest communication in sustainability. She argues that businesses need to be clear about what sustainability means to them and how they are implementing it in their operations and products.

“There’s liberation in transparency,”

she states. Being open about where a company stands in its sustainability journey and where it needs improvement can help build trust with stakeholders and customers.

At BeCause, this philosophy is at the core of their approach. By providing a platform that allows businesses to manage their sustainability data transparently and effectively, they help organisations communicate their efforts more clearly and credibly to their stakeholders. This transparency is not just about reporting; it’s about fostering a culture of continuous improvement.

 

Enabling Sustainable Innovation through Technology

The conversation with Alina highlighted how technology can be a powerful enabler of sustainable innovation. Platforms like BeCause are not just about compliance; they are about creating opportunities for businesses to innovate sustainably. By automating routine tasks related to data collection and reporting, these platforms free up valuable time and resources. This enables companies to focus more on strategic initiatives that drive genuine environmental and social impact.

Alina’s work at BeCause involves developing tools and methodologies that help businesses identify their most pressing sustainability challenges and opportunities. “We advise our customers to start with the main ones – climate change, biodiversity, human rights, and business ethics,” she explains. By focusing on these core areas, businesses can develop targeted strategies that align with their overall goals and capabilities.

Moreover, Alina points out that having the right tools is essential for making data-driven decisions. “Without data exchange, there’s no point in collecting it,” she notes. At BeCause, they aim to be a “sustainability hub” that not only gathers data but also helps companies understand and use it to drive change. This comprehensive approach ensures that sustainability efforts are not just about compliance but are integrated into the fabric of the organisation’s operations.

 

The Future of Corporate Sustainability

Looking ahead, Alina envisions a future where sustainability is embedded in every aspect of business operations, not just as a separate function but as a core strategy. She calls for a shift away from the fear and stubbornness that often hold companies back from fully embracing sustainability.

“If I could, I would take away the fear and stubbornness that hold companies back from fully embracing sustainability,”

she says.

Her vision is one where businesses view sustainability not as a cost but as an opportunity for innovation and growth. By leveraging data and technology, companies can transform their approach to sustainability, moving from compliance to a focus on impactful innovation.

 

Conclusion

Alina Arnelle’s insights provide a compelling argument for the role of data and technology in driving sustainable business practices. Her journey from fashion designer to sustainability leader underscores the importance of purpose-driven work and the transformative power of innovative thinking. As businesses continue to face growing pressure to adopt more sustainable practices, platforms like BeCause offer a promising path forward – one that goes beyond compliance and empowers companies to make a real difference.

For anyone interested in sustainability, corporate strategy, or innovative business solutions, this episode of The Responsible Edge Podcast is a must-listen. It offers valuable lessons on how to leverage data for sustainable innovation and provides a roadmap for businesses looking to make a meaningful impact in the world. As Alina aptly puts it,

“It’s about being better, not being perfect.”

This mindset, coupled with the right tools and strategies, can help businesses navigate the complexities of sustainability and emerge as leaders in the field.

In an increasingly interconnected world, the ability to leverage partnerships across industries and sectors is becoming a critical driver for systemic change. This is particularly true in the realm of sustainability, where the challenges we face are too complex and vast for any single organisation to tackle alone. Rafi Addlestone, Chief Strategy Officer at Pineapple Sustainable Partnerships, is at the forefront of this movement. With a career spanning government policy, major consulting firms, and global technology companies, Rafi is now focusing on how strategic partnerships can drive the kind of large-scale, systemic change that is desperately needed to address global sustainability challenges.

 

A Journey Rooted in Impact

Rafi’s career began in the public sector, where he worked on various policy initiatives related to education and child poverty. “I started out in government, in the education department, looking at future education and child safeguarding,” Rafi explains. However, he quickly realised the limitations of working within a bureaucratic system, where the ability to effect tangible change was often stymied by red tape and hierarchical decision-making processes.

“The problem with the system is that it’s very complex, messy, and bureaucratic. I found it quite frustrating,” he admits.

This frustration led Rafi to seek out opportunities where he could make a more direct impact. He transitioned into the private sector, joining Deloitte, where he worked on public sector strategy and corporate impact initiatives. At Deloitte, Rafi developed a deep understanding of how businesses could integrate social and environmental considerations into their core strategies. “I ended up leading projects that focused on corporate purpose and impact, helping institutions make choices that contribute more to society and drive positive change,” he recalls.

Rafi’s work at Deloitte marked a significant turning point in his career, as he began to explore how large organisations could be leveraged to drive systemic change. His experiences at Deloitte also laid the groundwork for his subsequent roles at Amazon Web Services (AWS) and Pineapple Sustainable Partnerships, where he has continued to push the boundaries of what is possible through strategic collaboration.

 

The Role of Technology in Partnerships

One of the key themes that emerged during the podcast conversation was the transformative power of technology in enabling partnerships. Rafi highlighted how advances in technology, particularly in data sharing and analytics, have fundamentally changed the way organisations can collaborate.

“We’ve come a long way since letters and pigeons,”

Rafi quips, underscoring the shift from traditional, slow-paced communication methods to the real-time data sharing capabilities that now facilitate seamless integration between partners.

This technological evolution has opened up new possibilities for partnerships that were previously unimaginable. Rafi points out that the barriers to integration have largely disappeared, allowing organisations to work together more effectively and at a much larger scale. “The ability to share information in real-time across organisations means that partnerships now have the potential to operate at a scale and speed that was previously impossible,” he says.

Rafi’s time at AWS was particularly influential in shaping his understanding of how technology can be harnessed to drive sustainability. At AWS, he led a global sustainability team, focusing on how data and technology could be used to solve complex environmental challenges. “Technology and data are going to be real drivers of the change we need to see,” Rafi asserts. He believes that by leveraging the vast technological resources at their disposal, organisations can play a pivotal role in creating a more sustainable future.

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Pineapple Sustainable Partnerships: A New Approach to Collaboration

Rafi’s current role at Pineapple Sustainable Partnerships represents the culmination of his experiences and insights from his previous roles. Pineapple is a “Think Do” consultancy that specialises in forming commercial partnerships to accelerate the transition to a sustainable future. At Pineapple, Rafi is leading efforts to create shared business models that bring together large organisations, innovators, and disruptors to tackle systemic sustainability challenges.

One of the key projects that Pineapple is working on involves decarbonising social housing in the UK. “We’ve developed a model that makes it much easier for social housing providers to buy decarbonising technologies like solar panels, heat pumps, and batteries,” Rafi explains. This innovative approach allows social housing providers to finance these technologies through future revenue streams, rather than relying on upfront capital. “It’s quite an innovative approach, and we’re working with some of the biggest social housing providers in the UK to scale this model,” he adds.

Another area where Pineapple is making significant strides is in agriculture, where they are developing new business models to help farmers adopt sustainable practices. “We’re looking at how we can connect the dots between small farmers at the bottom of the value chain and the large retailers at the top,” Rafi says. By facilitating partnerships between these different stakeholders, Pineapple aims to create scalable solutions that benefit both the environment and the economy.

 

The Importance of Bold Leadership

Throughout the podcast, Rafi emphasised the need for bold leadership in driving systemic change. He believes that in order to address the complex challenges we face, leaders must be willing to take risks and think beyond the traditional boundaries of their organisations.

“We need leaders who are prepared to act boldly in a world where we don’t ultimately facilitate boldness in many ways,” Rafi argues.

This call for bold leadership is particularly relevant in the context of partnerships, where the success of a collaboration often hinges on the vision and commitment of those at the helm. Rafi notes that many of the most successful partnerships he has been involved in were driven by leaders who were willing to take a long-term view and invest in initiatives that might not yield immediate returns. “Partnerships are all about taking a bold view and addressing complex problems with a grand vision for success,” he says.

Rafi’s work at Pineapple Sustainable Partnerships is a testament to his belief in the power of bold, innovative leadership. By creating new business models that bring together diverse stakeholders and focusing on scalable, sustainable solutions, Rafi and his team are helping to pave the way for a more sustainable and equitable future.

 

The Future of Partnerships

Looking ahead, Rafi is optimistic about the potential for partnerships to drive systemic change. He believes that as more organisations recognise the value of collaboration, we will see an increasing number of bold, innovative partnerships that address the most pressing sustainability challenges. “We’re entering an era where partnerships will be the key unlocker to driving change,” Rafi predicts.

However, he also acknowledges that there is still much work to be done. Many organisations remain hesitant to engage in the kind of bold, systemic partnerships that are needed to address global challenges at scale. Rafi encourages leaders to embrace the opportunities presented by real-time data sharing and technological advances and to think creatively about how they can collaborate with others to achieve their goals.

In conclusion, Rafi Addlestone’s career journey and his work at Pineapple Sustainable Partnerships offer valuable insights into the power of partnerships in driving systemic change. By leveraging technology, fostering collaboration, and embracing bold leadership, Rafi is helping to shape a future where sustainability is not just an aspiration, but a reality. As he eloquently puts it, “We’ve come a long way since letters and pigeons.” Now is the time to take the next step forward, harnessing the power of partnerships to create a better world for all.