Businesses across the globe have recognized that embracing sustainability is no longer a choice. They realize that they need to be mindful of their operations in order to maintain overall profitability.
Climate change is one of the most imminent threats that has unprecedented implications on how people live, work and play. Changes in temperature and weather patterns, and the rising sea levels are putting the existing ecosystem at risk. Corporates and the civil society need to be collectively aware of and own the changes immediately. With enhanced globalization in recent times, the concept of Sustainability has graduated from being a support function to becoming the nucleus of a profitable enterprise.
Sustainable development is the need of the hour
Ever wondered as to what has led to this shift in businesses pursuing meaningful business profitability? What has transpired behind the scenes of this dynamic digital age that has forced the leaders to review their strategies and ensure that they do what they are doing in a more responsible way? Well, the answer is simple – “There is no business on a dead planet”.
The rise in population and the subsequent increase in the demand for energy resources and supplies has led to serious environment concerns. Waste creation and disposal have also become a major challenge for civilizations to survive. With the issue of climate change looming large and increased pressure on limited natural resources, more organizations are embracing sustainable business practices to maintain their overall long-term growth.
Increased focus on people, planet, profit = New possibilities for the future
With an astute focus on people, planet and profitability, sustainability is all about meeting the requirements of the current generation as well as facilitating the future for the upcoming ones. Going beyond purely financial conversations, this concept of Triple Bottom Line focuses on the development in the social and environmental value of a business, thus opening many possibilities to re-imagine the future.