DAVOS 2020 : Key Learnings On The Future of Sustainability
With the theme of the 2020 meeting being ‘Stakeholders for a Cohesive and Sustainable World’, it is more apparent than ever that collectively we must join efforts in reducing our impact on the planet.
WORDS BY MALVINA SKENDO
At the end of January, the world’s leaders convened on the global stage to discuss the pressing challenges facing people and the planet at the 50th World Economic Forum Annual Meeting in Davos. With the main conversation focusing on sustainability, businesses discussed corporate purpose beyond profit and initiatives that can be implemented globally to improve the future state of the world. The theme of the 2020 meeting was ‘Stakeholders for a Cohesive and Sustainable World’, making it more apparent than ever that collectively we must join forces to reduce our impact on the planet.
As we entered a new decade and the year began, Australia suffered some of its worst fires, Jakarta flooded, while Norway recorded its warmest day ever in January. We have felt the Earth getting hotter, seen the ice melting, and witnessed the rising oceans filling up with plastic. We’re losing species, building up greenhouse gases, and changing the future of the planet at a tremendous pace. While an increase in environmental catastrophes has contributed to higher awareness and more action being taken globally by brands to reduce their impact on the environment, it is clear that we cannot operate in isolation to reduce our impact. By facing the complexities of the world we live in together, we can address the economic, environmental, social and technological challenges and join forces to become a major powerhouse in collectively reducing our impact on the world.
Reflecting on the key learnings from the Davos, we explore what brands can do in the lead up to meeting the growing demands of sustainability, socially as well as environmentally. While climate change is the biggest environmental threat to humanity, there are many others that have received large publicity in recent years. Davos 2020 tackled some of the major threats to biodiversity on land and in the sea, including plastics pollution which is an issue we strive to tackle at PELORUS with various initiatives supporting sea life diversity. With guest appearances and speeches from Al Gore, Greta Thunberg, and others, what did we learn about sustainability from the world’s leaders?
An increase in awareness of environmental, social and ethical issues has caused consumers to demand more from the brands they support. As part of this year’s theme, the changing face of capitalism was highlighted in Davos, with the CEOs of the world’s leading firms expressing support for the alignment of non-financial business performance metrics to be published in annual reports across sectors and industries. The intention is to include all environmental and social measures taken by businesses to reduce their carbon emissions, employee health and wellness initiatives and commitment to ethics and societal benefits that fall within Environmental, Social and Government (ESG) areas.
With business goals increasingly being linked to addressing complex social and environmental issues, alignment with the UN Sustainable Development Goals is becoming increasingly important in meeting ESG goals. The future of business lies in the ability to recognise and tackle global challenges, while creating innovative solutions. This is what will define the next era of luxury travel. At PELORUS, we believe the leading brands of the future can not operate with the sole purpose of making profit but they must put the planet, as well as its people at the core of its existence. Meeting the changing needs of the next generation alone is not enough. Disrupting the travel industry and leading the way forward by constantly challenging industry standards and holding partners, customers and stakeholders accountable for their actions, will drive luxury experiential travel to be the most sustainable it can be.
‘The responsibility to create a more sustainable future in Luxury is one of the fastest-growing and most successful industries in the UK’ – Walpole.
According to Walpole, the introduction of the Sustainability Manifesto in the UK represents the highest standards of creativity, innovation, and quality for luxury brands with British heritage. These brands are renowned throughout the world and include Alexander McQueen, Burberry, Claridge’s, Dunhill, Harrods, Glenmorangie, Manolo Blahnik, NET-A-PORTER, Rolls-Royce Motor Cars, and Wedgwood.
Working towards becoming a carbon-negative organisation through our work with PELORUS Foundation partners, we support the luxury travel sector in becoming a leader in sustainability. Our influence on our partners and clients enables us to be at the forefront of driving change within an industry that has been stagnant for many years. Travel is one of the world’s largest industries. We believe with great power comes great responsibility. The brands of the future are tackling global challenges and putting sustainability at the core of their DNA. As part of our mission to become a carbon neutral we aim to set ambitious industry aspirations to lower carbon emissions, reduce the impact on the environment and ensure sustainable future growth. When it comes to travel planning, we analyse the needs of our clients, taking into consideration where they would best be suited for an authentic experience, promoting the exploration of local areas before we plan to take them further afield
Through our partnership with the World Land Trust (WLT) and others, we will be at the forefront of raising funds for and providing support to land purchase initiatives, conservation reserve management, and ecosystem restoration projects to name a few. Our conservation efforts are focused on preservation, protection, or restoration of the natural environment and wildlife.
PELORUS Agency believes luxury brands have a responsibility to take on a proactive leadership role and forge the shift towards sustainability for the future. Working collectively, and drawing on our combined knowledge, expertise and passions to make a difference, we can contribute to sustainable causes and reduce our carbon emissions, our impact on our environment, and ensure we work towards sustainable business practices all around.
Venture into our world of responsible exploration, discovery, and adventure with PELORUS Agency. As an experiential travel company, we curate ultra-bespoke, high-end and low impact experiences for companies and brands. With a creative approach to travel and event planning, as well as military-precision style execution, we design disruptive engagement, experiential and retention programs for the world’s most innovative brands. Our goal is to educate, inspire and push the boundaries of our client’s employees and customers. Business is a force for good and at PELORUS Agency we believe our strongest power lies in forging mutually beneficial partnerships that are closely aligned to our values of making a positive impact on the world. Find out how we can help your company by visiting our website or writing to us at firstname.lastname@example.org.