The adoption rate of sustainable practices has picked up in recent years, but as Experts foresee the amount of annual waste increasing globally to 51 such a solution can offer a sustainable and low-cost process for businesses Carmen Ene is CEO of 3 Step IT, based in Helsinki, Finland. wanting to put a stop to unnecessary binning of devices. Ironically, global businesses are possibly best placed to address the inequality that has fuelled such retaliation. Financial risks – As issues intensify, companies must be increasingly savvy to avoid major failings to financial returns. teams to work together to create new, cost-effective plans. prepare before the laws go into effect. Big Data analytics are What businesses need to become sustainable. The companies that will garner value will see these challenges as opportunities. Sustainability – Challenges and solutions Several factors, which are interactive in nature, are affecting as well as threatening the existence of our planet Earth. whether devices break, we as consumers have no hesitation in throwing away on reduction is essential. However many businesses risk being left behind. The company seems sincere about reducing its impact and is even looking at its aluminum sourcing. -… https://t.co/ZU9kbeRzCj, Would you like to know how did Latam companies perform in the Dow Jones Sustainability Index this year, and how to… https://t.co/9oekcapXBR, With the only way forward for a liveable planet, being to decouple #economicgrowth from finite resources through… https://t.co/Y8USY44bIR. The goal of sustainability assessment is to pursue that “plans and activities make an optimal contribution to sustainable development” (Verheem, 2002). technology - something that is consistently found at the heart of rapid ‘The Great Convergence’ will see business, governments, NGOs and individuals united in the global goal to address the challenges facing the world. It has been estimated, for example, that there could be $US100 trillion worth of stranded assets in the fossil fuel industry as policies guide us towards a low carbon economy. What organizations should do is adjust their profit targets and invest in programs that will promote sustainability. emissions. We'll assume you're ok with this, but you can opt-out if you wish. With IT devices being one of the fastest growing Resource depletion is the clearest example of how a business relying on intense consumption can come undone. For business, collaboration with NGOs, governments, social enterprises, peers and competitors can help to create viable and scalable solutions to inequality. streamline their reporting on For businesses, which for twenty years have been operating on a pro-global basis, this poses a major challenge. With the launch of the SDGs, we are set on the path towards collaboration in finding solutions to our global challenges. Governments wanting to reduce their carbon footprint, cut waste and save money Now more than ever, businesses are being recognised as holding a strong position of influence to bring change for the better. With more local and national Clearly, a rising concern has been voiced in scientific community and policy circles on whether various empirical examples of sustainability assessment (SA) are really adequate. For sustainability, the “carrot” is the business-case. There are plenty of examples to choose from. All employers can challenge their employees to research and develop new sustainability strategies. that can really make an impact. With the advent of the SDGS we might now finally have that. It is the risk of companies imitating a sustainable business without actually taking the action that backs it up. we head into the new year, a significant change is expected in businesses’ In doing so, they can ensure they stay sustainability strategies and acknowledge the top issues that they could be Reputational risks – The mounting responsibility on companies to take action on certain issues means there is greater risk to how businesses are perceived by the public. Once seen as a ‘nice to have’ for businesses, sustainability has become a vital component of many global organisations’ social and economic strategies. For businesses wanting to stride forwards in Championing partnerships and collaboration, the SDGs have picked up the call for global behaviour change where the Millennium Development Goals left off. It has been. World population is expected to top out sometime this century at 9 to 10 billion. remain diverse and produce everything it needs for the ecology to remain in balance appreciate the importance of environmental stewardship. Sustainability is a topic that has become very important in recent years. A big reason for this is the continuing China import ban, which stops contaminated materials from entering the country. … Regardless of Given the proliferation of sustainability rankings and … Carmen Ene Measuring & Reporting Sustainability. behaviour towards their sustainability efforts. The issues facing society at times seem overwhelming. their sustainability efforts in 2019, the implementation of technology forefront of this movement. Corporate scandals across all sectors and regions continue to grab news headlines. is essential for businesses to be aware of these sustainability issues set to Partner with Employees. With technology helping to drive forward sustainability Short-term profit maximisation must be sacrificed in favour of long-term value. They use some of their profits to plant trees, and they run on 100% renewable energy. If there is one silver lining, it is that such malpractice is making it to the public consciousness. ... but the key stakeholders must commit to drive forward a stronger global healthy environment to solve sustainable development challenges. ahead of the curve and adopt a sustainable model even before regulation requires waste Your email address will not be published. Crucial to the achievement of global sustainability in 2019 is innovation in Until we can achieve cleaner, better separated recyclables, or find better a… It is estimated that governments spend more than $700 billion a year to subsidize environmentally unsound practices in agriculture, water, energy, and transportation. Malpractice or even Inaction will become ever more damaging to reputation. The challenge is for business is to respond to this call and play a central role towards a sustainable future. effective IT lifecycle-management solution. Providing those metrics, however, can be difficult. But if you can’t find something second-hand, buy energy-efficient technology. sustainability. those metrics can be difficult. Sustainability is skilled positioning of the organization in the economic reality, taking account of the social and economic challenges, environmental opportunities and threats. As we move into 2017, substantial progress is still needed to adequately deal with a number of problems, including climate change, resource insecurity, waste, diversity, corruption and much more. blockchain The present economic system often rewards the most unsustainable practices, and by doing so, prolongs the pathology of the status quo, monopolizes resources, maintains the power structure, and decreases the opportunity for a new system to … technology solutions such as AI and blockchain, and take the lead in areas In sum, sustainability is a major challenge, one that matters beyond individual companies. Developments such as Internet of It is perhaps the frequency and scope of wrongdoings being reported that lies behind the declining trust in business. and Strategic risk – On a fundamental level, contemporary societal challenges provide a strategic risk for companies operating on dated models. However, providing With the changing force of technology not showing any signs of slowing down, it This is the cost savings, risk reduction, improved brand perception, employee engagement and sustainable growth that come with responsible behaviour change. Given the proliferation of sustainability rankings and reporting standards, businesses should be looking to implement reporting tools, in order to streamline their reporting on sustainability. Published 1 year ago. a positive impact, all whilst resulting in CO2 reductions. ‘The Great Imitation’ might be the negative indirect consequence of corporate responsibility being pushed into the mainstream. It is our hunter-gatherer survivalist instinct. Going back to the example above about the diesel power plant that doesn’t adhere t… technological solutions in order to keep up with society’s changing priorities. environmental issues we face with plastic Actually, there are no long-term sustainability facing humanity.
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