The event opened with a keynote address by David Donoghue, Honorary Professor of Practice at QBS, former Irish Ambassador to the United Nations, and Co-Facilitator of the negations on the UN Sustainable Development Goals (SDGs). Ambassador Donoghue highlighted the vital role that businesses can play in advancing the UN SDGs and creating a more sustainable future for all.

This was followed by a lively panel discussion featuring Faye Thomas, Chief Commercial Officer at Vyta; Brian Reid, Chief Executive of Deli Lites Ireland; Dr Laura Steele, Director of Ethics, Responsibility, and Sustainability at QBS; and Professor Michael Alcorn, Associate Pro-Vice Chancellor (Strategic Projects and Sustainability), Queen's University Belfast.

The Business Breakfast concluded with interactive breakout sessions on various sustainability-related themes facilitated by the following subject matter experts from QBS:

• Dr Stephanie Graham
• Dr Xinwu He
• Laura Mazzola
• Dr Elaine Stewart
• Dr Jelena Vlajic

Some of the key insights gained from the breakout sessions are shared below:

It’s time for less discussion and more action on sustainability

• Sustainability is “trickling down” from large corporations to smaller enterprises–a trend that participants believe will only become more pronounced in the coming decade.
• However, enhancing sustainability and engaging in decarbonisation is often expensive. More support (financial and otherwise) is needed from government at all levels, including local councils.
• Even when funding is available, it can be difficult to locate the relevant information and develop a successful application. Bodies such as InterTrade play an important role here.
• Businesses want practical, affordable sustainability solutions–the focus should not just be on expensive, high-tech interventions. For example, advice on lean practices that both reduce waste and save money.

Engaging and educating stakeholders on sustainability remains a challenge

• Some organisations are struggling with how to articulate the value of sustainability to their stakeholders and use it as a source of differentiation in a competitive marketplace.
• Sustainability leads need advice on how to “sell” sustainability to their senior executives, especially in multinationals operating across diverse geographical and political contexts. In addition, there is a strong desire to support employee learning and development around sustainability and climate change, but it can be hard to find the expertise, resources, and time to do so.
• Customers are vital part of the equation–there is a need to educate consumers and address adoption challenges (e.g., the backlash against tethered caps on drinks bottles and the introduction of paper straws).
• Looking ahead, there will be an increasing focus on digital sustainability, driven by the proliferation of AI, massive data centres, and remote work.

Sustainability reporting is increasingly high on the agenda

• Sustainability reporting was a key focus of discussion at the event. Participants argued that current reporting requirements are too complex and would benefit from being “stripped back”. Business leaders are not in search of more guidelines but rather increased clarity and a stronger sense of what “good” reporting looks like.
• Reporting requirements need to be more holistic and take a contingency based approach that considers relevant variables (e.g., firm size, geographical context). “One-size simply does not fit all”.
• Data is a double-edged sword. We now have access to more information than ever, but this can be overwhelming and lead to duplication, overlap, and inconsistency.
• There are insufficient resources available to support organisations in sustainability reporting, including in terms of access to training and specialist staff.
• There can be severe consequences for failing to report, including substantial fines and the loss of organisational legitimacy. Increasingly, sustainability reporting is a requirement for awarding of contracts.
• Businesses are concerned about engaging in greenwashing. They want to promote their sustainability efforts but avoid overstating their achievements.
• There is a lot of good work happening and an abundance of examples of excellent practice, but it is currently not sufficiently captured or reported on.

Business schools have an important role to play in supporting organisations to become more sustainable

At the end of the event, participants were asked about the role academic institutions, such as Queen’s Business School, can play in supporting businesses on their sustainability journey. Suggestions included:

• Help to build basic awareness, bridge gaps in knowledge, and showcase best practices from businesses of all sizes through in-person and online events, such as the Business Breakfast Insights series.
• Enhance confidence, support networking, and promote collaboration amongst the local business community to “get people talking” about sustainability.
• Place a stronger emphasis on the “S” in SME. Small and microenterprises are often overlooked in discussions on sustainability and climate change.
• Shift focus from discussion to action–the overwhelming consensus was that the time to prioritise business sustainability is now.

For more information about our ongoing work related to sustainability and climate change, please click here.

In addition, to stay up-to-date on our business engagement activities, including future Business Breakfast Insights events, please visit our Business Hub.