Latest news with #incentives
Forbes
10 hours ago
- Business
- Forbes
What's Holding Back Sustainable Business? The Challenges That Matter Most
The race to a sustainable future is on In the next five years, an entire generation of 2030 sustainability goals will finally come due. ESG reports and shareholder letters alike are soon going to face their biggest reckoning yet: will all the lofty promises translate into real progress? Early signs suggest the answer will be sobering. While ambition has soared, actual outcomes have continued to lag stubbornly behind. The reality is not that business leaders lack the will, rather, it's that the pathways to sustainability are far murkier, slower, and more difficult than anyone knew, or perhaps wanted to admit. For many organizations, the past few years have revealed a brutal truth: good intentions alone are not enough. Across industries, leaders are confronting the growing reality that sustainable business challenges run deeper than public promises and ESG reports might suggest. Without the right goals, infrastructure, and incentives, sustainability efforts either stall or end up serving more as marketing than meaning. The subtle forces working against sustainability are often invisible at first: misaligned incentives, fragile infrastructure, and underpriced risk. It's time we look at them more clearly if we want to build companies that can genuinely claim to have moved the world forward. The Importance of Aligning Goals With Real-World Sustainability Execution At the heart of any real change is leadership that understands both the limits of today and the possibilities of tomorrow. Kenn Ricci, founder of Flexjet, is an executive who strives to embody both while also running a business in one of the more challenging industries to be sustainable in, aviation. As he explains it, Ricci's sustainability philosophy doesn't fall into the trap of setting goals that look good but collapse under operational scrutiny. Instead, he focuses on what could become possible with enough pressure and patience, and then works to build the conditions to achieve it, whether it is to further sustainability across his fleet of jets or simply managing the day-to-day operations at the back office. 'When you lead people, you can't just say, 'This is where we're going,'' Ricci explains. 'You have to build a path under their feet, step by step, that makes it believable and doable. Otherwise, it's just a dream. Worse yet, it might be just your dream, and never become theirs.' At Flexjet, Ricci has consistently pursued operational improvements that align with larger sustainability aims, but without forcing the business to lurch into goals it cannot yet support. He argues that trust, not slogans, is what sustains long-term change. 'Sustainability isn't a checkbox even if some still treat it as such,' Ricci continues. 'It's an ongoing negotiation between ambition and reality. The leaders who win are the ones who never let go of either side.' His pragmatic optimism stands in stark contrast to much of the corporate world, where sustainability targets are often designed by communications departments rather than operational leaders. And herein lies the first reason why we haven't seen as much progress on ESG goals as we would have wanted. For far too many companies, sustainability has not been a metric that they have actively led with themselves. Ricci puts it bluntly: 'Sustainability has to be a steering wheel, not a rearview mirror. If you're just reporting it, you're already too late. And the leaders have to be the ones with both hands on it, not just the sustainability or comms team.' He's also keenly aware that true leadership requires putting real capital behind sustainable change, not just political or reputational capital, but operational resources that can withstand market cycles. 'Anyone can make promises when the sun is shining,' Ricci says. 'The question is what you stick to when the headwinds come. That's where real commitment shows.' Why Sustainability Depends on Infrastructure: Lessons From Aviation and Energy If setting the right goals is the first battle, building the right infrastructure is the war. Kennedy Ricci, CEO of 4AIR and son of Kenn Ricci, has spent his career focusing precisely on this frontier. His company offers a certification program for aviation's environmental impact, not by promising zero emissions tomorrow, but by helping aviation stakeholders take verifiable, incremental steps today. 'A lot of people get paralyzed because they think the only good goal is net-zero tomorrow,' Kennedy Ricci explains. 'But if you can measure, track, and improve a little bit every day, that's how you actually get there.' 4AIR's approach doesn't pretend aviation can become clean overnight. Instead, it recognizes that building credibility today through offset programs, sustainable aviation fuels, and transparent reporting lays the groundwork for deeper decarbonization later. The company's rise is testament to the power of pragmatic ambition anchored by real-world execution. Kenn Ricci reflects on his son's growing success: 'Building an empire is one thing. Building a legacy that adapts to the future is something else entirely. I'm proud that Kennedy's taking on the harder challenge.' He continues, "We've always believed that real leadership isn't about announcing goals, it's about laying bricks, patiently, and getting others to walk the road with you. 4AIR is doing just that." Meanwhile, infrastructure challenges aren't limited to aviation. The broader energy ecosystem faces its own existential bottlenecks that a handful of companies are doing their best to break open for the rest of us. Deóis Ua Cearnaigh, CTO at Aeon Blue, a company specializing in energy transition technologies and sustainable fuel, emphasizes that sustainability isn't about simply adding more renewables into the grid. It's about fundamentally rethinking how the grid operates. 'It's wonderful that we have more wind and solar now,' says Cearnaigh. 'But you still need a spinning reserve for when the wind dies and the sun sets. If that reserve is fossil-powered, your emissions story isn't as clean as it looks.' Their bigger point is this: you can't just add renewables on top of a fragile or misaligned system and expect magic. Without reengineering grid storage, reserve capacity, and distribution models, the true sustainability gains remain elusive. Cearnaigh believes that while renewables will dominate the next twenty years, nuclear energy will inevitably rise as the long-term backbone for sustainable baseload power. 'The zeitgeist today is wind, solar, and geothermal,' he reflects. 'But it does also seem that nuclear is one inevitable destination as well.' Without grappling with these infrastructural realities, sustainability risks becoming a story we tell ourselves, not a future we actually live. This mindset mirrors the thinking of Brett Bouchy, CEO of Freedom Forever, a company deadset on revolutionizing residential solar. 'The solar revolution doesn't happen because people feel good about the environment,' Bouchy points out. 'It happens when saving money on your electricity bill is cheaper and easier than sticking to the grid.' Bouchy's laser focus on efficiency is another reminder that for sustainability to scale, it must compete not just morally, but economically. As Bouchy frames it, "We don't succeed by selling dreams. We succeed by selling better economics. And better economics drive real environmental change." He's blunt about the reality check the green economy still needs: "Nobody switches to solar because you guilt them into it. They switch because it's cheaper, easier, and works better. That's how you win hearts, wallets, and the future. And for that, you need the infrastructure to be in place, management to know what goals to drive towards, and an audience that is ready to trust what you are selling." Bouchy also sees a deeper, long-term opportunity that transcends energy bills: "Every home we upgrade is a client win, sure. But it's another node in a smarter, decentralized energy system. Sustainability isn't a utopian idea. It's the byproduct of millions of small, self-interested decisions that add up to a revolution." If only revolutions were easy, which is exactly why stories like the above are worthy of retelling. Companies that rise up to the challenge of sustainability cannot be taken for granted, simply because of how rare they still remain. That is particularly true for investments, which is the third missing pillar that is making 2030 feel further away than it should. Why Long-Term Investment Is the Missing Piece in Sustainability Strategy If setting the right goals is the first battle, and building the right infrastructure is the war, then making the right investments is the long campaign, often fought without fanfare, headlines, or even immediate returns. And it's here where sustainable business faces one of its most persistent barriers: the cruel mismatch between moral urgency and financial immediacy. Capital, by its nature, seeks returns. It rewards speed, liquidity, and demonstrable gains. But sustainability often demands patience, long arcs of investment, and a willingness to fund seeds that may only bear fruit decades from now. It asks us to invest in forests we may never personally walk through. Doing good, it turns out, is relatively easy. But doing good money, investments that compete at par with traditional, short-horizon opportunities, remains the real Everest to climb. This doesn't mean that the private sector is full of villains twirling their overgrown mustaches. It's simply important to recognize the system we've built and how it operates. Until the returns of sustainability become structurally competitive, whether through market shifts, regulatory frameworks, or pure innovation, capital will continue to flow where it always has: toward the short, the sure, the profitable and the now. The uncomfortable truth is that economics, not ethics, will be the final arbiter of the transition's speed, even if ethics gets to set the goal. And yet, there are signs of things shifting. Signs that smart leaders know: a world where customers demand sustainable products is fast approaching. A world where supply chains simply cannot function without green tech is not far behind. Companies who wait until the economics are easy will find that the customers, the talent, and the licenses to operate have already gone elsewhere. Which brings us to the handful of players quietly laying the groundwork. ENEOS, Japan's largest energy group, offers one instructive case. They are investing heavily in hydrogen transportation, synthetic fuels, battery recycling, and carbon capture, not because it makes perfect financial sense today, but because they know what survival will require tomorrow. 'There's no question the world needs cleaner energy,' an ENEOS representative explained in an interview. 'But if you exit fossil fuels too quickly, you leave markets in chaos, and ironically, you can make the transition slower, not faster.' The trick, as they frame it, is not to burn the bridges while crossing the river. Real transition demands continuity, not collapse. "You can't dismantle today's infrastructure before tomorrow's infrastructure is ready," added another ENEOS representative noted. 'The world is too interconnected for idealism alone. You need to build pathways people can actually walk.' This recognition, that reality, not rhetoric, is the substrate upon which change must be built, permeates the thinking of those who are keen to see sustainability truly take root today. Brett Bouchy, CEO of Freedom Forever, who is busy scaling residential solar across America, frames it in plain terms: 'You don't win by selling dreams. You win by selling better economics. If going solar isn't easier and cheaper than sticking with the grid, the revolution doesn't happen. Period.' It's a bracing, necessary reminder that narratives alone don't move markets. Incentives do. And this brings us full circle to the real challenge ahead: building an economy where sustainability isn't a premium add-on for the wealthy or the virtuous, it's the baseline expectation for everyone. In that future, "green" won't be a differentiator. Instead, it will simply be the cost of doing business. Those who invest today with that reality in mind, patient, practical, sometimes lonely, will be the ones best positioned when the forest finally blooms. And those who don't may find themselves, too late, standing outside the gates of a new economy that has no room left for yesterday's math.
CNA
2 days ago
- Business
- CNA
Grab pauses planned changes to driver incentive scheme
Ride-hailing firm Grab said it will explore pilot studies to determine the benefits of its new incentive programmes. The company met 79 drivers to hear their concerns about proposed changes to its incentive scheme. Grab had plans to expand Streak Zones, a scheme that allows drivers to pre-book two-hour time slots across most areas islandwide. Following unease over the impact on drivers' earnings and income stability, Grab has delayed changes to its fare structure. Charlotte Lim reports.
CNA
3 days ago
- Automotive
- CNA
Grab Singapore pauses planned incentive changes, drivers call for higher base fares
SINGAPORE: Incentive changes originally planned to help Grab drivers increase their earnings while driving in specific zones within a set timeframe have been put on hold, according to a joint statement by the National Private Hire Vehicles Association (NPHVA) and Grab on Wednesday (Jun 25). "Following consultation with the NPHVA and in response to feedback from our driver-partners, Grab has decided to pause the planned incentive changes to ensure their concerns are fully addressed before rolling out further changes," the statement said. It added that NPHVA had shared feedback that some drivers rely on these incentives to supplement the basic fares, and that there were worries the revised structure might make it harder for some to reach their target earnings. "While Grab's intention was to help driver-partners reduce driving hours and reach their earning goals faster, Grab recognised that the planned changes could have been better implemented," the statement said. An in-app message sent to drivers stated that the changes to the Grab Streak Bonus and Streak Zones incentives had "raised questions and uncertainty". The planned changes will be paused with immediate effect for further review, said the message. "This means that there will be no change to the existing Grab Streak Bonus and Streak Zones programmes." Last week, Grab announced planned updates to its Streak Zones scheme that were set to kick in from Jul 1. It would allow drivers to pre-book two-hour time slots where they would drive, mostly during peak hours. This would have given drivers a 5 per cent cash back on every completed trip, along with an additional cash bonus for reaching specific milestones. All trips completed under Streak Zones would also contribute toward Grab's monthly bonus milestones. Before the rollout was paused, Grab told CNA that the scheme was designed to allow driver partners to benefit from both programmes simultaneously and achieve their earnings goals faster. However, the NPHVA raised concerns with the incentive changes. In a Facebook post on Tuesday, Ms Yeo Wan Ling, adviser to the NPHVA, said the scheme would affect drivers' earnings. 'Moving money away from the Streak Bonus that drivers are more familiar with, stable to rely on, could mean reduced earnings for majority of our average drivers,' she said. "There's no assurance that sufficient slots will be available and in what arrangements for all eligible drivers interested to participate in these Streak Zones," she noted, adding that the changes "make earnings less predictable". Drivers who spoke to CNA echoed these sentiments. Full-time driver Mr Yeo said the proposed change was 'worse off' than the current incentives as it would not be easy to book slots in the streak zones and drivers would hence earn less. Another full-time driver, Mr Dan Lim, said the proposed incentive was unfair to drivers like himself, who work from 7pm to 6am, outside of peak hours. Night shift drivers must be treated fairly, especially with 'long distance pick up and short distance drop off', he said, adding that he barely earns a profit of S$50 (US$39). 'Most incentives go to daytime (drivers), not midnight,' he said. Other drivers said the ride-hailing firm should focus less on such incentives, and instead raise the base fare for rides. Mr Andy Lim, who has been a full-time driver with Grab for eight years, said the incentives make 'no difference' to him and are 'not that much'. In order to benefit from the Grab Streak Bonus incentive, he said drivers need to automatically accept all bookings - this is not always worth their time if the pick-up location is too far away. 'Some fares are so low you feel like you're underpaid,' he said, adding that he once only made S$12 from an hour-long trip. 'I might as well go outside and work,' he said. 'If you include rental and petrol, I only earn S$8.' Mr Tan, who has been driving full-time with Grab for the past two months, said many drivers are calling for better base fares, as incentives are often viewed as a form of "gamification" that pressures them to work harder. 'We are trading time for money, it is a tough balancing act trying to earn enough, trying to maintain my health, and time for friends and family,' Mr Tan told CNA. 'As a new driver, it is tempting to push for that 'one more fare', as it translates to money. But when fatigue sets in, it is dangerous for you and your passengers,' he added. However, this has not stopped Mr Tan from worrying about hitting his daily targets. 'For example, today I am S$80 short and tomorrow I am sending my daughter at 9am for a camp. I will need to think about how to make up those numbers and sometimes you simply can't.' 'Freedom of time for a PHV (private hire vehicle) owner is a fallacy. I am blessed to have my parents' vehicle to drive (but) it is tougher for those who rent,' he said.
The Independent
4 days ago
- Business
- The Independent
Watch: How to earn £180 by switching banks this summer
A finance expert has provided advice on how to earn money by switching bank accounts. Laura Pomfre appeared on BBC Morning Live to highlight top banks offering incentives for new customers. Santander Edge offers £180 for new members, while First Direct 1st Account provides £175. TSB Spend and Save gives £100 for a switch, along with an additional £15 cashback per month for six months. Watch the video in full above.
Skift
4 days ago
- Business
- Skift
Geopolitics, Inflation, Staffing: Incentive Planners Share Their Top Pain Points and Solutions
Incentive experts stress the importance of a Plan B and C as the geopolitical landscape shifts and costs continue to skyrocket. Incentive planners play the role of the middle man between their clients/senior management and their attendees — with both groups having high expectations for each year's trip. Despite tight budgets (some having remained the same since 2019), planners are expected to design an experience that will excite even the most seasoned winners. Now there's the added stress from new government policies such as tariffs andthe fact that a third of industry companies are struggling to find talented workers, according to research from the Incentive Research Foundation. So it's no surprise that the room was packed and the frustration level high during a discussion of 'pain points' at the IRF Invitational at AVA Resort Cancun in early June. The panel featured Jeremy Bielski, vice president of sales, ITA Group; Rachel McInnis, vice president, solution strategy, Maritz; and Janielle Peacock, director experiences & learning, RDV Corporation, and was moderated by Melissa Van Dyke, senior vice president, integrated marketing and innovation, Creative Group. Panelists at the IRF Invitational: Rachel McInnis, vice president, solution strategy, Maritz; Janielle Peacock, director experiences & learning, RDV Corporation; Jeremy Bielski, vice president of sales, ITA Group, with moderator Melissa Van Dyke, senior vice president, integrated marketing and innovation, Creative Group Following are the top four pain points identified by the group: 1. Safety and Security Whether a company works with its own internal security experts or hires an outside firm, destination and attendee safety concerns are heightened due to the geopolitical climate in the U.S. and around the world. ITA's Bielski said his company's security partner helps provide context to what everyone is hearing in the news. 'They're in the trenches globally and they understand what's going on,' he said. 'We have them come in pretty early on and do a risk assessment of every destination we're looking at. It gives a sense of security and trust to the client to know that their well-being and the well-being of their participants will be taken care of.' Building partnerships with hotel brands is key to being able to pivot if there's a need to change destinations, along with including force majeure protection at the contracting stage. 2. Impact of Tariffs The incentive merchandise industry has had to quickly adjust to the threat that tariffs will impact both pricing and availability. The key, panelists said, is to have a wide range of choices, so that if there are certain items that are impacted, recipients can still find something of the same value. More companies are turning to local vendors for on-site gifting, a strategy that the IRF practiced at its final evening event, where attendees were given 'fun money' to shop at a marketplace of goods from Mexican artists and vendors. 3. Crippling Costs 'If you have the same budget in 2025 that you had in 2019, your costs are 23% higher for travel,' said Van Dyke. But a 23% degradation in the experience is not an option. 'How do we start to look at these programs and make the best decisions with rising costs and inelastic budgets?' she said. One option is to increase the perceived value of the experience without increasing hard costs. 'Focus on things like access, or status,' she said. 'Who gets the priority seating at an event? Who gets first access to redeem their reward? Those are things that you can add without adding a whole lot of cost to a program.' Another strategy would be to add a meet-and-greet if the program includes an entertainer. 'That would add a little bit of value and maybe not impact the cost, depending on the relationship you may have with the vendor,' she said. Other cost-cutting suggestions included: • Cutting out one day's hosted activities • Adding more free time, which IRF research has shown is a top priority for incentive attendees • Cutting the number of hosted meals • Doing away with on-site gifting • Having attendees arrange their own transfers • Capping air credits so that attendees cover the cost of their own upgrades • Cutting lavish entertainment and relying more on background playlists • Replacing signature cocktails with beer and wine, or using drink tickets. 4. Staffing Concerns IRF research has found that a third of incentive planners are concerned about staffing. Most people don't begin their careers thinking they want to be an incentive planner, so the first step, the panel said, is to grow awareness of the industry. The two major industry associations, the IRF and the Society for Incentive Travel Excellence, have created various initiatives such as podcasts to attract young talent to the industry. SITE's Texas chapter brings hoteliers and planners together with hospitality students and represents the industry at job fairs.
