‘Survival of the most sustainable one’: The new mantra for a net zero future says Landmark Group CFO

Landmark Group’s journey to a net zero future has begun with its brands Splash and Max revamping supply chains, changing sourcing practices, and upgrading product design. The retail giant has diversified its energy infrastructure to include solar energy sources. Garg, speaks to Gulf Business about the diversified efforts driving the transition in the retail giant’s operations and outlook.

Q: What are the primary challenges faced in the retail sector when pursuing sustainability initiatives?

For us, it’s about seeing sustainability as an opportunity rather than a challenge. Our commitment to being better for the planet drives us to prioritise efficiency, which inherently promotes sustainability. It’s integral to our daily operations, something we’ve embedded in our business ethos long before the widespread focus on ESG.

Brands like Splash and Max have already revamped supply chains, sourcing, and product design. We’ve moved operations towards energy efficiency and renewable energy sources.

Q: How does Landmark Group manage its carbon emissions?

In managing our carbon footprint, Landmark Group focuses on a holistic approach across three key areas: sustainable products, operations, and customer journeys.

Regarding sustainable products, we’re deeply involved in the design process, working closely with our extensive supplier network of over 10,000 to encourage sustainable alternatives in raw materials like cotton and polyester. We’re implementing third-party audits to ensure compliance with our sustainability standards.

On the operational front, we’re optimising our stores, warehouses, and offices for eco-efficiency, closely monitoring and reducing our energy footprint. We’re also gradually transitioning to green shipping methods and experimenting with biofuels and electric vehicles where feasible.

Our commitment extends to the customer phase, emphasising circularity. We’ve established our own sorting and recycling facility in Dubai, a significant step in responsibly managing old products, starting with textiles.

Q: How will your sustainability initiatives impact your finances?

We have pivoted from viewing finance and sustainability as separate strategic ends. They have now been moulded into the fundamentals of our operations, and integrated into our usual business activities. Our teams are motivated to do what’s right, emphasising awareness as a significant operational tool. Educating both customers and our internal teams has led to a noticeable shift in product design and perspective.

We don’t view sustainability initiatives as separate from our financial strategies; they’re inherent in our regular business practices.

Q: What role does green financing play in the transition to net zero?

Green financing plays an increasingly important role, offering incentives tied to specific audited Key Performance Indicators (KPIs). While we’re already committed to sustainability, meeting these KPIs allows us access to discounted financing options, reinforcing our dedication to environmentally responsible practices.

Our sustainability journey began long ago, encompassing sustainable raw materials, recycling packaging, and the adoption of renewable energy sources. We’re continuously evolving towards a more sustainable model, not merely driven by incentives but by a genuine commitment to doing what’s right for our planet.

In fact, our green practices at present exceed requirements set by lenders and we are waiting for them to catch up to the level of innovation already in practice across our business.

Q: What significance did COP28 hold for your organisation?

Cop28 was a valuable opportunity to gain insights into global sustainability efforts and align our own goals with worldwide initiatives. It provided exposure for our teams, facilitating interactions with various stakeholders, including business, sustainability, and technology experts in Dubai. Networking at this event allowed us to exchange ideas and gather valuable concepts.

It was a convergence of individuals invested in sustainability—government bodies, private sectors, suppliers, retailers, and brand owners. While there’s much to do, time is limited, underscoring the urgency of collective action.

Q: Is the future of capitalism compatible with sustainability?

Absolutely. We can’t halt our way of life, but we must address issues of overconsumption and improper disposal. Sustainable practices are essential for continued existence in the long run. Being the most sustainable is key to longevity in an evolving landscape—those not embracing sustainability might encounter challenges.

It’s essentially the survival of the most sustainable entities, emphasising the importance of adopting sustainable practices for continued viability.