The future of business: are we seeing the end of sustainability or a nascent transition to a ‘new normal’?

In this current tumultuous political climate, many are likely questioning what impact the changes across the globe are having on the work towards a liveable planet, and what this means for the future of business. The legal and regulatory landscape is rapidly changing, and companies are caught between opposing market challenges.

We have seen a disappointing COP29 in Azerbaijan, political pushback questioning whether ESG and sustainability even matter to business, and companies struggling to balance growing regulations and demands with the reality that sustainability takes time and investment. On top of that, many unsustainable practices still turn a profit in the short term, which makes change feel even harder.

Nevertheless, this is all part of a bigger journey. It seems we are currently in a space where things feel messy and uncertain, but the goal of business hasn’t changed. What is changing is how businesses continue to operate, with society expecting companies to operate more responsibly, and a growing number of emerging environmental, social and governance risks. From poor supply chain management, exposure to greenwashing and climate litigation, cyber security risks and over-reliance on fossil fuels, companies are being compelled to act. What we’re seeing is far from the end of sustainability, but a clear transition to a ‘new normal’.

Furthermore, there is a growing realisation that sustainability isn’t a separate practice within business. It is an inherent product of business operations. There are two different ways of approaching sustainability: you are either managing it or you aren’t, which includes mitigating your risks. We are seeing more appreciation that sustainability isn’t a monolithic standalone practice but a dimension of good corporate governance.

At its core, this means understanding and responsibly managing two things:

1. what your business depends on to operate successfully; and
2. the impact your business has on people and the planet.

The pressure to act is mounting. Customers, investors and even employees are demanding change, particularly younger generations. Boards are facing new legal liabilities. Regulations are increasing transparency requirements. And yet, businesses are paralysed, unsure of how to move forward, asking practical questions like: how do we meet these demands and stay competitive? What does sustainability mean for our specific business? How do we navigate these challenges without feeling overwhelmed?

Weightmans have partnered with Paragon Impact and Stories Evolved to help our clients navigate this tricky place by:

1. helping them make sense of what sustainability means for them - not in a generic or theoretical way, but by identifying the specific risks, opportunities, and priorities that matter most to their unique context; and
2. helping them take practical action that makes sense to their business. Bridging the gap between knowing and doing - turning awareness and commitments into strategy, and strategy into impact.

What makes our collaboration so powerful is how it helps us to deliver this value to clients exponentially. The conversation around what businesses need to do must always start with what is legally required. This is where Weightmans comes in, providing expert tailored legal insight. Paragon Impact makes evidence-based decision making and impact measurement possible, ensuring strategies are not only actionable but also measurable and driven by data, using innovative technologies. Stories Evolved brings the education and strategy piece – building on each organisation’s internal expertise, engaging leadership and upskilling employees. By translating these insights into actionable strategies and meaningful narratives, businesses are empowered to align their decisions and actions with sustainability in a way that is both practical and credible.

For businesses just starting out, it’s about creating the foundation. Strong leadership, engaged employees, and a clear strategy are what set them up for success in their sustainability journey. Many businesses do not appreciate that they can only influence a sub-set of sustainability topics based on their industry, operational location and size. There is no obligation to solve all sustainability issues but instead, organisations should focus on those that are creating the most material positive or negative outcomes.

It is clearer than ever before that sustainability isn’t a “nice-to-have” or a moral obligation—it’s a business imperative. It’s about embedding resilience and long-term success into your business model. Businesses that fail to act risk falling behind, while those that embrace sustainability unlock opportunities for innovation, growth and competitive advantage.

Podcast 

Tune in to our ESG podcast to hear about how Weightmans is collaborating with key partners Stories Evolved and Paragon Impact to support businesses navigate their sustainability challenges and transition to a ‘new normal’. By working as a team, we offer businesses a “one stop shop” to close the gap between where they are now, what they are required to do and where they aim to be.

If you’d like to know more about how to navigate the challenges of future proofing your business, please get in touch for an initial conversation with our ESG Team.