Weathering the Storm: A Reflection on Tough Times in Sustainability and What They Mean for the Future

Have you ever had one of those moments where you see the storm coming, but everyone else is still enjoying the sunshine? That's exactly what happened to our sustainability recruitment business in early 2022. 

The Wake-Up Call 

When Russia invaded Ukraine in February 2022, the majority of our clients knew immediately what it meant. Inflation would rise and ESG (as it was known then) would become a cost center that needed to be reduced. 

We recognized this early when a client mentioned "re-prioritising" the eight searches we had lined up. I posted on LinkedIn that we were heading into a slowdown in hiring, and I was laughed at. I thought it would take 12 months to bottom out. 

I was wrong. It's been much worse. 

Three Years in the Wilderness 

Over the last three and a bit years, high inflation has morphed into something far more damaging: political pushback engineered by oil lobbyists, an existential crisis in asset management, juniorization of hiring in sustainability, massive waves of redundancies, rollback on climate and social targets, and really anything you might have thought was unimaginable in 2021. 

For a sustainability recruitment business owner, this is not ideal. We pinned our colours to a mast that we believed in, and we were prepared to go down with the ship. 

But life is not about going down with the ship. It's about swinging back with everything you have. 

Lessons from the Trenches 

I have learned more in the last 18 months than any similar time period in my career. This has been longer and more profound than the Great Financial Crisis. Back then, I used to Google the FTSE every day in hope that things were getting better, when all the boats would rise. 

What have we done differently this time? 

Making Your Own Luck 

We learned that you make your own luck in times of strife. The sustainability recruitment market has shrunk dramatically, but there are still pockets of resistance. We changed our focus from just working with financial services to recruiting across the full sustainability value chain. From investors and funders, to the assets and companies they invest in (literally any sector) to the consultancies and service providers who orbit these industries. Ultimately, anything in sustainability. 

We discovered that the roles are the same across industries, as are the people to a large degree. A strategy lead role requires similar skills whether it's in banking, manufacturing, or consulting. 

The Double-Down Strategy 

Breaking into new markets is tough, and there are lots of new competitors. What to do then? 

Double-down on who you are and avoid short-term thinking. We always said that our best marketing is the people we place. Get that right, and people will work with you again, and will refer their friends. 

To get the jobs in the first place, we have always presented as the market specialists who are peers in the industry to our clients. We changed our meetings from sales meetings to networking meetings. People feel that we are genuine and act with integrity, and actively want to work with us. 

This is never truer than in a tough market when everyone is fighting over the same recruitment business. If you cut corners and push for short-term gains, you will end up with less in the long run, and weirdly, even less in the short term. 

The Light Bulb Moment 

This led to a light bulb moment. We are the business that helps everyone and does so with positive energy. We have a purposeful approach to everything we do, and from that our commercial success will follow. 

It is okay to want commercial success. But you have to want it for those around you as well. 

Case in point: Just last month, we helped a global consumer business hire a CSO. We could tell at the end of the search that they were not thrilled outing the offer out. We stopped them and asked if they were ‘excited’ by the hire. They said ‘no’. We said, ‘let’s start again’. They were confused.  

We started again, and found somebody they love, and we have earnt their deep trust and respect (until we mess up in future!). 

What's Next for Sustainability? 

Looking ahead, I believe we're entering a new phase. The overselling of ESG as an outcome is giving way to more practical, integrated approaches to sustainability. Companies are learning that real sustainability work requires deep expertise, not just good intentions. 

The businesses that survive this downturn will be those that focus on genuine value creation rather than box-ticking. And the professionals who thrive will be those who can demonstrate real impact, not just knowledge of frameworks. 

The Path Forward 

For anyone else weathering this storm – whether you're in recruitment, sustainability, or any other industry facing upheaval – here's what I've learned: 

Your reputation is your most valuable asset. Invest in relationships, not just transactions. Help others succeed, and success will find you. 

The market always comes back. But it comes back different. Be ready to adapt while staying true to your core values. 

Most importantly, remember that tough times don't last, but resilient people do.