Food & Drink Business Podcast Ep20: sustainability as risk management with Julia Seddon, Cress Consulting

By 2030, 2019 will look like a ‘normal’ year. When we consider how impactful 2019 was in terms of extreme weather, it becomes clear that the climate in 2030 is worth assessing and developing a risk management plan. Food & Drink Business editor Kim Berry talks to Julia Seddon, the CEO and director of sustainability consulting firm Cress Consulting, on the critical need for sustainability to be a key component of a company’s risk analysis and management planning. In particular, Kim and Julia discuss water stewardship and how investments in sustainability can help ensure long term viability and profits.

 

The discussion starts with the need to treat climate and water risk in the same manner as you would any organisational risk. With many parts of Australia experiencing reductions in water supply, it is important to establish your water risk profile and consider the impacts of reduced availability, and even where your organisation's drains feed into.

Julia notes that while the price of water has been increasing, the current cost is not reflective of its value. An organisation needs to start by assessing the impacts of not having access to water. If it is determined to be critical to the business, then its supply has to be treated as a risk and steps taken to secure it. With history not providing an indication of the future, climate projections are important for determining potential water access issues.

With many businesses in the food and beverage industry discovering that investing in sustainability is helping to improve profits and secure their future, it is important to focus improvements and sustainability projects on an organisation’s critical areas and be aware that small improvements in many areas can do more than a single, large and expensive project.

We wrap the episode with a reminder that organisations should not take water for granted and identify the importance of good networks with peers for sharing lessons learned and obtaining support.

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MC: Grant McHerron
Host: Kim Berry
Producer: Steve Visscher

Food & Drink Business - © 2021