SUSTAINABILITY APPLIES TO US ALL

Today, it seems that ESG aspects mainly affect listed companies, but European regulation is increasingly keen on ensuring all businesses are aware of the impacts they generate. The Non-Financial Information Law 11/2018. The EU Directive on Non-Financial Reporting (Directive 2014/95/EU)2 was a milestone; it requires large companies to disclose how they address social and environmental challenges, thus promoting transparency and accountability. This directive compels companies to include a variety of ESG topics in their management reports and encourages discussions at Board meetings.

However, it is crucial to understand that all companies, including those in the funeral sector, that do not adopt sustainable practices are destined to face significant challenges. These challenges can range from increased operational costs due to resource scarcity, regulatory fines for non-compliance with environmental laws, to reputational damage among increasingly eco-conscious consumers. Sustainability is becoming an imperative not just for ethical or compliance reasons but also because it directly contributes to the resilience and long-term profitability of companies. In the funeral sector, this is particularly pertinent as we must be prepared to face new realities such as pandemics, which have increased the demand for services; armed conflicts, which may disrupt supply chains; and climate change, which intensifies the ethical need for green burial options and other sustainable practices. These factors play a crucial role in the sustainable transformation of our industry

FUTURE BUSINESS LEADERS

Future business leaders will significantly differ from those we know today. They will drive substantial business growth and create a considerable positive impact. These leaders will not only aspire to accumulate wealth but will also seek to make a substantial difference. As an African wisdom proverb says: "If you want to go fast, go alone. If you want to go further, go together." Tomorrow's leaders will foster holistic strategic alliances and develop the resilience necessary to face emerging challenges.

To achieve these objectives, we must initiate a transformative change both within and outside our organizations. Although the challenges and specific approaches vary, we all face a common imperative: to change our way of doing things by integrating efficiency and efficacy into our resources to become more sustainable. This change is essential to align with the new challenge of sustainable transformation of operations in the funeral sector.

Want to learn more?
Read the article in the summer issue of THANOS magazine - you can read online at pages 30-32