In this episode of Sustainable Intelligence, Janet Wood, Group Corporate and ESG Secretary at Incubeta, join us to discuss how the global marketing agency kept its ESG strategy moving forward, even after falling out of CSRD scope. Janet shares how she unified fragmented initiatives across 37 countries, leveraged assessments like EcoVadis to build a data-driven foundation, and embedded sustainability into business operations. We explore why discipline, collaboration, and pragmatism are key to maintaining momentum and creating long-term value, proving that ESG success goes far beyond compliance.
About Sustainable Intelligence
Novata’s Sustainable Intelligence podcast brings honest, forward-thinking conversations about sustainability in the private markets. From carbon accounting to turning data into impact, each episode explores how investors and business leaders are tackling real challenges, meeting rising regulations, and building long-term value. Join us for expert insights, practical strategies, and authentic dialogue that empower action and progress in the evolving sustainability landscape. Listen to more episodes on Spotify or Apple Podcasts.
Conversation with Janet Wood (Transcript)
Ella Williamson: Welcome to Sustainable Intelligence, where we discuss all things sustainability for the private markets. I’m Ella Williamson and I’m thrilled to be your host. Today we’re joined by Janet Wood, Group Corporate and ESG Secretary at Incubeta. Although Incubeta is no longer in immediate CSRD scope, Janet has kept the company’s ESG momentum going. Thanks to Janet’s leadership Incubeta has built the systems to keep progressing on its sustainability goals, delivering real results, and also meeting the growing expectations of both lenders and stakeholders.
I am super excited to explore how corporate discipline drives real ESG value, even when regulations begin to shift. Now, Janet, to start us off, could you share a bit about sustainability at Incubeta and how you approach it in your role?
Janet Wood: Good morning, Ella. Yes. When I joined Incubeta, I found that the ESG initiatives within the group were quite fragmented.
There were separate initiatives across various markets, but there was no cohesive unified strategy. So after spending the first few months on fact finding within the group to determine exactly what initiatives were in place and engaging with both our equity partners and external consultants, I used that information to structure and drive a more cohesive strategy across the group. I then also decided to take the time to do assessments like Ecovadis and similar ones provided by our equity partners and loan provider. Once I did that, it became clear that ESG is more than just about being greener or data gathering for reporting purposes.
I realized that the S and G elements are just as crucial. Although I was initially asked to complete the EcoVadis assessment just for one of our subsidiaries, I realized that this was actually quite a useful way to identify what data is required by these relevant platforms, and this also tied in with what our external stakeholders required.
Gathering this data then helped me when I tackled supplier due diligences as well as RFP applications. So my next step was to take this and to try and do the same exercise but from a group perspective. This proved helpful because it’s helped me identify areas for improvement, such as standardizing policies and procedures, implementing data gathering mechanisms, and where necessary, working with various departments to implement improvements.
I would say we have evolved now from having a very immature ESG structure to a moderately mature one where we have implemented the identified updates and kicked off our Scope one and Scope two emission baseline reporting. By the end of this year, we hope to have obtained baseline data for Scope three, and in financial year 2026, we will then be able to start identifying areas where we can set reduction targets.
Ella: Brilliant. So it is very much an iterative process, starting with EcoVadis, using the data that you’ve collected to then help inform other requirements and other requests that you are getting from across the organization. Now, I know originally you were in scope for CSRD when it first got announced. What were your initial priorities when that announcement happened for Incubeta?
Janet: I think my initial priorities were actually trying to understand what CSRD reporting would look like for us as a group and whether we would actually fall into scope. Having so many entities across the globe, it was quite interesting to actually unpack it and see what would be relevant for reporting and what wouldn’t.
Just for example, our head office is in the UK, but we have significant presence in the EU. So, to try and understand where we fit into the reporting scope was quite a challenge. My next set of priorities was trying to determine what data looked like that we received from across the globe. And when I say this, I mean some offices measure their space in square meters, others in square feet.
To try and find a way of getting standardized data and information across the globe while making it as easy as possible to do that was quite a challenge. I must say that AI came in quite useful there because it helped a lot, even if it’s just for translating a Portuguese utility bill and giving it to me in a table form.
Ella: Absolutely. Leveraging whatever tools you have is so key when doing this, and standardizing data we know does take a lot of time and is that first piece of the puzzle in order to get to streamlined and successful reporting across a global organization like yours.
Janet: I have to say that having the right ESG platform is invaluable because that helps guide you in what information you need to get, and also the format it should be in. And once you’ve captured it, it starts to provide a template for future use. I would not have been able to do this just off an Excel spreadsheet.
Ella: Yeah, it’s interesting you say that. I think a lot of companies tend to think that Excel has always been the way, and therefore there is no other way.
However, using Excel but with a complimentary platform tends to be a really good way to move forward, and actually start to glean real insights from the data that you have and be able to build on it year on year.
Janet: Absolutely. And lastly the nice thing about it is the way it facilitates collaboration within the group.
So, for instance, I would be able to send out a request to somebody in Portugal or in Italy or in Spain and they can provide the information to me through the platform rather than me going and gathering it all myself and then trying to capture it.
Ella: Definitely, that collaboration piece and being able to take some of that work off your back, so actually you can focus on gleaning the insights from it is so key.
And then obviously the Omnibus updates came about, and I understand that Incubeta was no longer in scope for the CSRD. However, you still chose to push forward with your broader ESG initiatives that were already in play. Can you talk to me a bit about that, why you decided to do that, why it was so important?
Janet: I think there were some mixed emotions. At first I was like, oh, I have just gone to all this trouble to gather all this data, panel beat it into a shape and a form that gives us useful information, and now in theory it’s not necessary. So you wonder, have you wasted a whole year of your life?
But when you dig deeper, you realize that the whole initiative behind CSRD reporting and the ESG elements within the company is not just for box ticking or for reporting requirements. It’s because you’re trying to build a more sustainable foundation within your business across all three spheres, environments, social, and governance.
And if you start to look at it from that perspective and you realize the value that comes out of the work you’ve put into having the social elements in place. In other words, ensuring you’ve got mental health programs for your employees. You’ve got policies and procedures in place that mean you work with companies who adhere to the same kind of ethos that you do. You make sure that your governance principles are in place, all your policies and procedures and your data protection policies and whistle blowing and anti-bribery and corruption, and I can go on and on. Those are foundations that, in any case, make for a sustainable business.
The work hasn’t gone to waste. We’ve just pivoted and said let’s use this now to continue the initiatives that we started. Let’s look at how we can build this as a foundation on which we can continue preparing, because let’s be honest, at some point we will be back in scope for CSRD. Let’s just regroup and make sure that what we do now means that when we do hit that point it’s not a frantic rush to try and get up to speed again.
Ella: I don’t think you were alone there with that feeling initially of all that work that you’ve done, but actually you are so much further ahead. You know so much more about your business and you can now actually take those insights and use them strategically to create value. So, building on that, you obviously, as part of that process of preparing for CSRD, you did a high-level materiality assessment, built out your data strategy that makes sense for a global organization like Incubeta.
What did you learn from doing those tasks from a business perspective, from a stakeholder perspective that you took forward in continuing your strategy?
Janet: To me it was interesting actually how much ESG impacts every facet of our business, not just the obvious element of decarbonization or minimizing footprints or carbon offsetting. But the S and G play such a huge role, especially in an organization like ours that is a digital marketing agency. You fall into the trap of thinking, how much of an impact can we have on the environment? But it’s not just about that. It’s about the RFPs we get where we are asked to explain what social initiatives we do within our broader community.
It’s the fact that we need to be able to answer to our clients to say that yes, we actually do have ISO 27001. Your data is safe when you are working with us. We do have code of conduct in place, which means that we only work with suppliers and clients who operate in the same ethical manner that we do.
Of course, apart from that, having our equity partners and our loan providers, also pushing us to drive our ESG strategy and initiatives has placed us in a position that we are now able to show them the growth that we’ve achieved. For instance, with our equity partner over the last three years, we have grown significantly across all four sectors that they assess you on. And this makes us more attractive to them. It means that from a loan provider perspective, they had set KPIs for us that we had to meet.
Meeting those means a significant financial incentive for us, which obviously makes it, again, attractive for our board to drive this forward within the group.
Ella: Yes. It’s good for business, it’s good for the planet. It’s a win-win for everyone involved, which is brilliant. And I love the way you talked about balancing ethical expectations with those external requests to actually make good for everyone.
Now, the next stage in your journey is setting decarbonization targets, which I believe you’re in the process of at the moment. What are you hoping to achieve from this, and why is it so important to you and your business?
Janet: So our primary goal remains meeting the KPIs that our loan provider have set. That’s just a given. From there, our next step is to have a look at what is it that we can do towards decarbonization targets.
Again, I’ve touched on the fact that we are a digital marketing agency. It’s a little bit harder for us. There’s no sort of low-hanging fruit in terms of cleaner air filters or LED lights in our buildings because we rent all our office space. So we have very little control over a lot of that. But what we are hoping to do is to start to work towards an overall business strategy where we look at initiatives that could see us offering cleaner, more sustainable ways for our clients to market their products.
This would obviously involve our commercial team getting involved and it is a far more audacious goal and a longer term plan. But definitely we see that there are opportunities for decarbonization there and really the unintended positive consequence of that is it means that we’ll ultimately end up upskilling our staff and employees in a way to be able to do this, which means that we meet again parts of the S and G sections of our ESG strategy.
Ella: Yeah, bringing everyone along for this journey to have the biggest impact is so key, and I’m very excited to see how you create these cleaner ways to do marketing for your products.
For any company like yours who was once in scope for CSRD but are no longer in scope, is there one piece of advice that you would give them to get started, keep momentum, and get value from the work that they’ve already done or need to start doing?
Janet: Yes. I think that approaching sustainability from a mindset of business improvement rather than just a reporting requirement takes some of that perceived burden from data gathering. I think the one piece of advice I can give you is, be realistic and pragmatic. Start small. And have clearly defined steps, set achievable goals and ensure that your data collection processes are robust and as automated as possible. This will ensure that there’s no last minute rushes to gather the data because then there’s errors that come in and you can’t always ensure that your data is defendable.
Do your research, understand the environment in which you operate. So not every question on every ESG questionnaire or client due diligence form will be relevant to your organization.
I would say again that a slow and steady approach builds a strong foundation. Celebrate successes and keep your board and senior leadership informed. This helps to drive stakeholder buy-in, especially from senior leadership. And when they see the results that you’ve achieved and the positive spinoffs, you find that you get far more assistance from them in providing budget, providing extra staff and always don’t hesitate to ask for help. There’s so many people within your organization, but also externally, consultants such as Novata are always willing to share their knowledge and to help where they can, and this makes for a far easier journey and takes some of the pressure off your own shoulders.
Ella: Thank you so much for sharing that. I love those two pieces of advice. The two that really resonated with me were shout from the rooftops, celebrate your successes. We don’t do enough of that in the sustainability space, so I think that’s really key.
But then also balancing that with focusing on what is most material to your business in your industry that is so key. So you’re not wasting your time on irrelevant metrics that won’t actually drive your business forward.
Janet: Yeah
Ella: So what I’d love you to finish on is a few quick fire questions. Whatever comes to mind, no right or wrong answers.
Number one, what’s the most valuable lesson you’ve learned in your role so far?
Janet: I think it would be about being pragmatic, about being realistic in the goals you set for yourself.
I think a favorite South African saying is, how do you eat an elephant? And it’s one bite at a time. So take it slow, take it steady, and just approach it with a well thought out plan. And get help to drive your strategy because you can’t do it alone.
Ella: A brilliant saying, which really resonates. And continuing on the topic of celebrating successes, is there one moment that really sticks out that you are most proud of in your sustainability journey?
Janet: Yes. I think that after all the hard work of the first year, and then the sort of disappointment of knowing that we wouldn’t be doing a CSRD report, but then having finished our assessments with EcoVadis and our equity partners and seeing the results of those assessments and the absolute improvements that we achieved within our ESG maturity, actually, made all the hard work and the blood, sweat, and tears worth it at the end of the day. So I would say that and meeting the KPIs from our loan provider were really, for me, the highlights of the last year’s efforts.
Ella: And they should be things you’re very proud of. It’s very impressive.
And then, based on all your expertise in this sector, do you have any one bold prediction for the future of corporate sustainability?
Janet: I would say that sustainability is here to stay. It’s not gonna go away. Some of us think it might have become less relevant because of the EU Omnibus Simplification Package, et cetera. But I think what’s happening there is the initial frantic drive has settled down and we are now at a point where it’s just becoming embedded in the organization.
I think that the way forward for any organization is to incorporate ESG into your business practices and use the tools available. I think the future of corporate sustainability is going to incorporate things like AI, ESG platforms, decarbonization strategies, and use all of that for your own business success.
Ella: Yeah, it’s part of just doing general business and it will continue to embed itself further and further as time progresses. Thank you so much for all your insights today. It’s been absolutely fascinating hearing your journey and where you are at, and we look forward to seeing you set your decarbonization goals and where you are this time next year.
For those that are listening, I think the key things to take away. It’s an iterative process. Build what is right for your business, that’s most material to your business. Think about balancing those ethical expectations with the external requests that you are getting, so you’re delivering exactly what your business needs.
Finally, the thing that I’m super happy about from this podcast is, celebrate those successes and shout from the rooftops about it because we don’t do enough of it, and I think it’s the only way we are really gonna put sustainability on the map. So thank you for joining us today. Thank you for sharing all your expertise.
Until next time, let’s keep building sustainable intelligence together. Find out more at novata.com.
