Top takeaways from the Sustainable Business Conference 2024

Industry experts gathered to explore the future of sustainability in business at the first Channel Islands Sustainable Business Conference, which took place on Tuesday 15 October in Guernsey, and Wednesday 16 October in Jersey. 

Supported by lead sponsor Mourant, the conference addressed pressing issues such as the failure of the economy to support long term wellbeing for all, transformative leadership needed for a sustainable future and the role of the UN Global Compact in moving business towards a more sustainable future.

The focus for the conference was on promoting long-term wellbeing for people and the planet, with actionable insights for businesses committed to a sustainable future.

In this article we recount the top takeaways from the Guernsey event.  

A call to action for sustainable leadership

The conference began with an address from Sally Rochester, Director at Mourant Consulting, who emphasised the important role that businesses can play in society by leading the charge in sustainability. “It’s only by being connected, collaborative, creative and courageous that we are going to lead our businesses towards a better future,” she urged. 

Sally noted: “None of us want to work for a business that damages the world around it,” stressing the need for businesses to rethink their impact on the environment and society.

Mourant’s commitment to sustainability

Jonathan Rigby, Global Managing Partner at Mourant, echoed this sentiment in his address, acknowledging that while Mourant has committed to deliver ESG goals, there is still much to be done.

Mourant is in the early stages of a 12-month programme designed to shape its sustainability strategy. He stressed that this work would help determine the firm's level of ambition in driving positive changes.

Understanding purpose, sustainability, and governance

After the introduction from Mourant, the first session focused on the need to reframe business models to focus on long-term wellbeing. Dr Victoria Hurth, Fellow at the University of Cambridge Institute for Sustainable Leadership, introduced the audience to the concept of 'unsustainability' as a governance failure, emphasising that the current system, which prioritises financial capital over societal wellbeing, must be transformed.

Businesses need to move beyond ESG as a 'do no harm' agenda and embrace hyper-innovation to solve global problems, meaning that they must go beyond ESG checkboxes and use their energy to proactively solve pressing global challenges, rather than merely avoid harmful practices; which should be the minimum expectation.

Dr Hurth introduced the '3 Logic' Business Transformation Framework - ranging from short-term self-interest (Logic 1) to purpose-driven, long-term wellbeing (Logic 3). Logic 1 is a profit-first approach where Corporate Social Responsibility (CSR) efforts are used to placate powerful stakeholders who want more sustainability. Logic 2 is when companies recognise that long-term profitability can align with sustainable practices, but the primary goal is still to make as much money as possible. The third and most ambitious logic strives to maximise wellbeing for all. Dr Hurth challenged attendees to drive purpose-led change, explaining that financial income alone is not an adequate proxy for long-term wellbeing.

Dr Hurth also made a  profound point  that if the role of the economy functioned as intended – focused on enhancing societal and planetary wellbeing – there would be no need for a separate concept of sustainability. 

Interactive sessions and group discussions: Navigating business transformation

Dr Hurth then led an interactive session, asking attendees to discuss where their organisations stood within the '3 Logic' Business Transformation Framework. Here, most participants identified that they firmly sat within Logic 2, which focuses on long-term profit but does not fully embrace the broader purpose of societal  and planetary wellbeing.

The session provided practical insights for attendees, with each table focusing on a different organisational lever – such as purpose, innovation, leadership, and financial management – to determine how their businesses could transition toward Logic 3, the purpose-driven organisation. The discussions highlighted the importance of aligning corporate strategies with sustainability goals and fostering leadership that champions change.

The role of business in achieving sustainable development goals 

Steve Kenzie, Executive Director of the UN Global Compact Network UK, led a session on the role of business in achieving the United Nations’ 17 Sustainable Development Goals (SDGs). He highlighted the importance of sustainable corporate practices, urging businesses to act now for the benefit of their own longevity, as well as for the planet.

Mr Kenzie provided a list of 10 key pathways forward from the 17 SDGs, including promoting gender equality, improving water resilience, and committing to sustainable corporate finance. He explained that the 17 SDGs are interlinked: “It’s a mistake to just pick one or two of the goals and suppose you can address those goals alone. It’s one system.” 

Mr Kenzie also emphasised that companies which do not address sustainability are putting themselves at a disadvantage in an increasingly conscious investment landscape. 

Transforming organisational models for sustainability

Dr Marc Khan, Chief Strategy and Sustainability Officer at Investec Plc, delivered a thought-provoking session on transforming organisational models to meet the demands of sustainability. He argued that many businesses still operate within frameworks developed during the Industrial Revolution, which treat employees like cogs in a machine rather than as part of a living, self-organising system. “The factories of the industrial age and the corporations of the current age are actually the very same organisation systems. But instead of working on a production line, you’re sitting at a desk, and instead of the machine stamping the shoes, there’s a code in a computer that you’re operating.”

Dr Khan’s central message was that organisations need to shift from machine-like, reductionist thinking to treating themselves as living systems. This change requires a delicate balance between control and freedom. Too much control stifles innovation, while too little can lead to chaos. His metaphor of the brain as the ideal model for organisational leadership - flexible, self-regulating, and capable of learning - resonated strongly with the audience.

Practical steps to drive business sustainability

The conference concluded with a panel discussion hosted by Estell Levin-Nally, CEO and Founder of Levin Sources, alongside Dr Khan, Mr Kenzie, and Dr Hurth. Each panellist shared their main takeaways from the day, with a focus on the practical steps businesses can take to drive sustainability.

Mr Kenzie urged businesses to “just get started” by deciding on the first, most powerful action which can be taken and start antagonising. Dr Hurth reinforced the need for governance to stay central to any transformation efforts and recommended keeping ambitions big, but focused. While Dr Khan emphasised the importance of people and businesses effecting change rather than waiting for governments to enforce it. The panellists collectively called for businesses to be bold, innovative, and committed to a sustainable future.

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