Beth Knight, a passionate advocate for social sustainability and empowerment of underserved communities, shared her insights with Team Reblue in an exclusive interview for our ‘Nine Questions With’ series. 

Beth Knight's journey is a testament to the transformative power of business in addressing social and environmental challenges. A Social Impact and Sustainability Director with over sixteen years of experience, she has been driving real change across global organizations with a passion for inclusive work environments. Her impressive track record includes leading initiatives on climate change, disaster relief, well-being, and social justice. Known for her hands-on approach, Beth excels at building relationships, shaping strategies, and developing innovative programs that make a tangible impact. Her work spans impact investment, academic research, thought leadership, and materiality assessment and reporting. Beyond her professional achievements, Beth actively mentors emerging change-makers and was honored with the Great British Businesswoman Award 2022/3. Her journey reflects her unwavering commitment to fostering a thriving planet and society, demonstrating how businesses can pursue both profit and a more equitable, sustainable world.  Read excerpts from the exclusive interview below: 

Team Reblue: Looking back at your career, what pivotal experiences or moments inspired you to focus on breaking down socio-economic barriers for underserved business communities, ultimately leading you to your current role at Lloyds Banking Group? 

Beth Knight: I've witnessed firsthand the transformative power of business in addressing both social and environmental challenges. From Accenture’s development partnerships to EY’s emerging market pro bono projects, to Amazon’s CV19 pandemic relief and disaster relief initiatives. By creating sustainable livelihoods, driving innovation, and uplifting communities, businesses can be catalysts for positive change. However, it’s important that we acknowledge the social disparities that persist amidst economic growth. 

I joined Lloyds Banking Group (LBG) because I was inspired by their commitment to breakdown socio-economic barriers and empower underserved businesses. Diverse leadership brings fresh perspectives to sustainability, enabling us to identify and address the specific challenges faced by these communities. By supporting underserved business owners, we not only empower individuals but also create a ripple effect that benefits their wider communities. Social sustainability is the fastest growth edge for leaders seeking to create a better world for both people and planet. 

"A genuine commitment to balancing stakeholder interests (of which shareholders are a key group) requires a cultural transformation within companies, as well as systemic changes in the broader economic and regulatory environment." 

Team Reblue: You are passionate about the role of businesses in fostering a thriving planet and society. How are global financial institutions enabling and/or nudging the industry to implement sustainability into their core businesses? 

Beth Knight: Financial institutions and technology have a pivotal role to play in accelerating sustainability across industries. By channelling funds to critical projects (see LBG's Sustainable Financing Framework and community development finance commitments), we can directly address pressing environmental and social challenges. Developing innovative financial instruments like green bonds and sustainability-linked loans provides businesses with the necessary capital to transition to more sustainable models. 

Moreover, influencing clients and suppliers to adopt more sustainable practices, as exemplified by LBG's Supplier Sustainability Summit, is essential for driving systemic change. Leveraging technology and collaborating with policymakers also present tangible opportunities for financial institutions to champion equality of opportunity – a further example that’s top of mind is the work my team’s been championing for disabled entrepreneurs in partnership with Small Business Britain and the UK Government supported Lilac Review.    

"Coupled with the increasing prevalence of double materiality assessments, the tightening regulatory landscape exemplified by the CSRD, and the escalating demands of stakeholders for product-level transparency, companies face a complex yet imperative task: to embed sustainability across their entire value chain."

Team Reblue: The focus on carbon reduction often overshadows other critical aspects of sustainability, known as carbon tunnel vision syndrome. How can companies balance their carbon reduction goals with a broader sustainability strategy that equally addresses social sustainability issues such as labor rights and community impact?   

Beth Knight: The imperative to address climate change has undoubtedly driven significant public attention and corporate action on carbon reduction. Our generation has also made progress in human and labor rights. However, many of our fastest points of progress have sadly been precipitated by catastrophic events such as the Deepwater Horizon and Rana Plaza disasters. We are at a pivotal moment for comprehensive sustainability governance which takes the interconnectedness of environmental and social challenges into account via a more holistic approach.   

The emergence of frameworks such as TCFD, TNFD, and the nascent TISFD signifies a growing recognition of the need for standardized, comparable sustainability reporting. Coupled with the increasing prevalence of double materiality assessments, the tightening regulatory landscape exemplified by the CSRD, and the escalating demands of stakeholders for product-level transparency, companies face a complex yet imperative task: to embed sustainability across their entire value chain.  

A request: The TISFD Working Group is seeking feedback and has an active call-out for organization supporters here.   

"The emergence of frameworks such as TCFD, TNFD, and the nascent TISFD signifies a growing recognition of the need for standardized, comparable sustainability reporting."   

Team Reblue: Reflecting on your work at the University of Cambridge Institute for Sustainability Leadership (CISL), can you share a specific example of how research from the Institute has directly influenced a corporate sustainability strategy, and the challenges faced in this process?  

Beth Knight: I’m proud to have been part of CISL’s Fellow and Senior Associate community for over a decade. Beyond the research I’ve been involved with via Executive Education programs and their Corporate Leaders Groups, my two favourite pieces of research that I’d recommend you check out are:  

• CISL’s Business Transformation Framework - sets out 12 enablers and four organisational typologies with differing levels of alignment to sustainability and purpose. This research has valuable insights which also overlay on the work of PAS808 and NXT Boardrooms Business Profile builder. 

• the Competitive Sustainability Index (CSI) - measures how countries balance economic growth, social well-being, and environmental protection. Its insights have influenced EU policies and fostered new collaborations on the Green Deal Industrial Plan and Net Zero Industry Act.   

Further reading: You can find CISL’s Annual Impact Report 2023 here.   

"Developing innovative financial instruments like green bonds and sustainability-linked loans provides businesses with the necessary capital to transition to more sustainable models."   

Team Reblue: As stakeholder capitalism gains traction, what role do you believe organizations should play in addressing social sustainability? Beyond shareholders, how can organizations genuinely balance the interests of diverse stakeholders (e.g. employees, customers, suppliers, communities and the environment)?   

Beth Knight: As a concept, stakeholder capitalism necessitates a fundamental shift in corporate purpose - from solely maximizing shareholder value to creating long-term value for all stakeholders. Our ‘status quo’ is that many organizations prioritize short-term financial gains over long-term sustainability. A genuine commitment to balancing stakeholder interests (of which shareholders are a key group) requires a cultural transformation within companies, as well as systemic changes in the broader economic and regulatory environment. This brings positive and progressive change at pace back to PEOPLE – and is ultimately why a focus on social sustainability in connection with environmental sustainability is critical. Leading companies with strong social performance and stakeholder-centric approaches include Bupa Healthcare, Octopus Energy and Adidas.   

"When integrated with technologies like the Internet of Things (IoT) and 5G, AI can create intelligent systems that drive efficiency, reduce waste, and improve quality of life."   

Team Reblue: With technology advancing rapidly, how do you envision harnessing artificial intelligence to drive meaningful environmental and social impact? Are there specific AI-driven initiatives or breakthroughs that particularly inspire you in the realm of sustainability?  

Beth Knight: I’m a tech optimistic and believe that AI provides a unique opportunity to accelerate sustainable solutions. My participation in UK Government All-Party Parliamentary Groups, with sustainability, finance and technology experts, has reinforced my conviction that AI can transform how we address environmental and social challenges.  

When integrated with technologies like the Internet of Things (IoT) and 5G, AI can create intelligent systems that drive efficiency, reduce waste, and improve quality of life. However, realizing this potential requires careful consideration. Balancing open-source data collaboration with commercial sensitivities, while embracing a healthy attitude to managing risks, will be crucial for realizing AI's full potential. 

"Gaining board-level support is crucial, as evidenced through the rise in governance models such as 'Earth on Board', Board sustainability sub-committees and fractional Chief Sustainability Officer roles." 

Team Reblue: Measuring social impact can sometimes reveal initiatives that are not performing as expected. How do you approach the lessons learned from these failures, and what processes do you have in place to adapt and improve based on this data? 

Beth Knight: My team at LBG is striving for data-led decision-making whilst mitigating for the challenges of measuring indirect social impact (i.e. when operating through partnerships, coalitions and cross-sector influences on direct business actions). While learning from failures through deep-dive analysis and agile improvement is essential, greenwashing and purpose-washing in the sustainability space underscores the importance of rigorous evaluation. 

By combining qualitative and quantitative data, and actively involving key stakeholders, companies can develop a robust approach to measuring social impact. This includes ensuring transparency at the board level, fostering investor engagement, and empowering employees to contribute to sustainability. Ultimately, a holistic approach distinguishes between genuine impact and superficial rhetoric. 

"By channelling funds to critical projects (see LBG's Sustainable Financing Framework and community development finance commitments), we can directly address pressing environmental and social challenges." 

Team Reblue: As a sustainability advisor and coach, what common challenges do you see organizations facing in their sustainability efforts? How do you guide them to overcome these obstacles and achieve their sustainability goals?   

Beth Knight: Many companies struggle to define sustainability's role in their business, hampered by unclear goals, data gaps, and resource constraints. Gaining board-level support is crucial, as evidenced through the rise in governance models such as ‘Earth on Board’, Board sustainability sub-committees and fractional Chief Sustainability Officer roles. 

Sustainability isn't rocket science, but it does require a strong commitment amidst our volatile, uncertain, complex, and ambiguous (VUCA) world. We need companies to be bold and willing to adapt. Bold, transformative actions and consistent, incremental improvements are both crucial. By addressing systemic challenges, companies can create a more equitable and sustainable future. 

"By creating sustainable livelihoods, driving innovation, and uplifting communities, businesses can be catalysts for positive change."

Team Reblue: Beyond following you on Linkedin (https://www.linkedin.com/in/beth-knight/), are there other sources where people can learn more about your work and career path, particularly your expertise in social impact and sustainability? 

Beth Knight: You can find details on my current work and non-executive projects via my website: www.bethknight.earth. The CISL education program’s where you’ll find me are: Business Sustainability Management online short course, Sustainable Business Postgraduate Programs and The Prince of Wales Business & Sustainability Program for Senior Executives. 

 I also recorded two podcasts recently which are easy listening and go into more detail on my personal journey with sustainability leadership: Podcast 1 (Feb 2024), Podcast 2 (June 2024). 

Photo courtesy of Beth Knight.