Training for Success – What sustainability leaders can learn from the Olympic mindset

The second in a series of blogs from Belissa Rojas, ESG and Impact Chief, FAM & Gemma Roex, IMM Lead, Phenix Capital Group

In a recent blogpost, we looked at what we can learn from the Olympic mindset and how this can help us to achieve sustainability goals that also require perseverance, hard work and a winner mindset, such as the UN SDGs. In this blogpost, we delve deeper into this theme and discuss how learnings from top-class athletes and sports can help us with our sustainability ambitions.

Gemma preparing for the European Lacrosse Championships in 2024

“Since I was young, sport has been an important outlet for me,” says Gemma Roex, IMM Lead at Phenix Capital Group  “I have been lucky enough to represent my country at both European and World Championships for lacrosse. This has taught me a great deal about managing my work-life balance, providing a channel for pent-up energy, and emphasizing the importance of grit, goal setting and teamwork. Plus, it gets me outdoors and allows me to travel and meet new people.”

While athletes have a clear path, rigorous training, and a support network propelling them to success, our efforts in sustainability often fall apart because of the lack of clarity, dedication, and support.

Last year, FAM made the commitment to build a state-of-the-art Impact Measurement and Management (IMM) framework to support their impact investing strategy. In order to realise this ambition, Belissa Rojas, the Chief Impact Officer at FAM sought the support of a specialised impact investing consulting firm, Phenix Capital Group. Little that she knew she would get insights on impact investing and a VIP access – from a former athlete – to the mindset that would help to get there.

Here is what came out of it:

Set clear goals

Athletes set clear, measurable goals for each phase of their training and competition that drive their daily efforts and long-term strategies. Similarly, setting clear, actionable goals is essential for success in sustainability initiatives, such as the SMART goals – specific, measurable, achievable, relevant, and time-bound goals. These goals should be highly ambitious too, after all the SDGs will push the limits of what we thought is possible to achieve as humanity! Yet they should still be realistic so as to avoid disillusionment amongst team members. Clear goals provide a roadmap for action, enable progress tracking, and ensure accountability.

FAM and Phenix Capital use the Theory of Change framework to set ‘North Star’ for FAM; the ultimate impact the company is looking to achieve. The framework then defines longer-terms ‘outcomes’ and shorter terms ‘outputs’ which can be seen as stepping stones needed to reach this ultimate impact.

Draw on your support staff

Athletes never train in isolation; they rely on coaches, nutritionists, physiotherapists, and a whole host of other professionals to help them achieve their goals. Similarly, organizations striving for sustainability must draw on the expertise and support available within their team and beyond. Whether it’s engaging with sustainability consultants, leveraging cross-departmental collaborations, or seeking advice from industry leaders, a robust support network is crucial.

Fondaction Asset Management and Phenix Capital have been collaborating now for over two years leveraging each other’s expertise and finding the best way to apply it in specific contexts. This collective effort can drive innovative solutions, ensure that sustainability goals are met and maximise impact.

Get practical support and tools

Even the most talented athletes need the right tools and practical support to succeed such as specialized equipment, training programs, and strategies tailored to their specific needs. In the realm of impact investing, it’s no different. This might involve deploying standardized tools and frameworks such as Impact Management Platform (IMP), SDG Impact Standards or GIIN’s IRIS+, adopting best practices from industry leaders, or engaging with experts who can provide targeted advice. With the right tools, tackling environmental and social challenges becomes a more manageable and structured endeavour.

When building FAM’s Impact Measurement and Management (IMM) systems, Phenix and the FAM team strived to incorporate standardized industry frameworks where possible. This standardization is important for the teams to have a shared language and logic when discussing new strategies and investments, and to be able to compare impact achieved across funds in replicable way. Joining working groups or networking initiatives from standard setters can also be a useful way to become more familiar with these frameworks and help shape their agendas. For example, Belissa has been one of the creators of SDG Impact Standards, whilst Phenix Capital Group played an active role in the creation of the Operating Principles for Impact Management.

Celebrate your wins (and those of others)

Athletes celebrate their victories not just for personal satisfaction but to inspire others and to reflect on what strategies led to their success. Similarly, celebrating achievements in sustainability initiatives is vital. Recognizing and sharing these successes not only boosts morale but also provides valuable insights into what works. By celebrating wins, organizations can build a culture of continuous improvement, where successes are analysed, and lessons learned are shared widely. This communal celebration and reflection encourage others to join the sustainability journey, fostering a collective movement towards achieving the SDGs.

– Please follow along for more insights in the next blog in the series –

Gemma Roex is the Impact Measurement and Management (IMM) Lead at Phenix Capital Group. She focusses on impact verification and due diligence, helping investors and fund managers implement the most robust impact practices into their fund strategy and investment cycle. Gemma holds a BA in History from Oxford University and an MSc in Global Energy and Climate Policy from SOAS University.