California AB 32, passed in 2006, requires a statewide 25% reduction of greenhouse gas emissions by 2020 against a 1990 baseline. Corporate social responsibility (CSR) primarily hinges on each company’s core business, which by dint of globalisation impacts on economic, social and environmental conditions. Recommend a Friend The production of plastic is largely reliant on fossil hydrocarbons, which are non-renewable resources which contribute to climate change. As valuations and impacts become more measurable and auditable, basements full of quants at J.P. Morgan Chase will get busy working on related instruments. Sustainability If you like these facts … We must connect the dots between climate change, water scarcity, energy shortages, global health, food security and women’s empowerment. The first trend contributing to Sustainability 3.0 is the recent progress on quantifying ecosystem services— that is, measuring, in dollar terms, the value of the myriad beneficial services that natural environments perform. 19. This means more climate neutral, energy- and resource-efficient and circular projects. Under the direction of Peter Seligmann, Conservation International has shifted its strategy for protecting wildlands from an emphasis on their intrinsic value to stressing the value they deliver. Doctorate 25. Consider that, as the true value of clean oceans, rivers, and forests becomes clear and acknowledged by businesses around the world, a multitrillion dollar market becomes visible. Developments on three fronts, long in the works and now converging, make it not only possible but inevitable that successful business will become synonymous with sustainable business. 16. Value chain indices address that confusion with a single, much simpler and more effective standard for an industry. The United Nations Environment Programme estimates, for example, that one-third of global food production depends on animal and insect pollination, and the value of this service is $200 billion annually. Perhaps the biggest conflict seen regarding sustainable development is economic in nature. 28. More recently, at the 2010 Convention on Biological Diversity, in Nagoya, Japan, World Bank president Robert Zoellick announced a major project that enables emerging and developing countries to arrive at valuations of what he calls their natural capital, to help their leaders make more-informed development decisions. Shareholders of companies like Dow Chemical were pressured to divest or be considered complicit in producing wartime matériel. Even those concerned about only business and not the fate of the planet recognize that the viability of business itself depends on the resources of healthy ecosystems—fresh water, clean air, robust biodiversity, productive land—and on the stability of just societies. But the success of ratings like Energy Star show how resoundingly people respond when, in considering products in a category, they are presented with a single rating. 2. The problem is simple. This chapter reviews the literature on the economic … Four steps towards a more sustainable global economy 10 January 2018, New York. This would combine the appeal of a rating methodology as rigorous as Energy Star’s, a set of considerations as broad as Good Guide’s, and the coverage of an entire industry’s products. SRI is a familiar term—for decades an established segment of the investment community has believed that it can and should influence corporations to show leadership in environmental sustainability, social justice, and corporate governance practices. Human-caused emissions of carbon dioxide need to fall 45% from 2010 levels by 2030 and reach net-zero around 2050 to limit climate change catastrophe. We believe our road map to sustainable business offers that vision. EVERY DAY, EVERY ACTION Water. Then it weighted the categories against one another so that they could be rolled up into one score. Capital costs represent expenses incurred when setting up the process. The key point of the whole subject of sustainability is that the economy cannot function separately from the environment. The importance of quantifying ecosystem services was first acknowledged in the early 1990s, but serious efforts began in 2000. 23. A hot water faucet that leaks one drop per second can add up to 165 gallons a month. The aim is to balance economic prosperity with environmental sustainability and social inclusion and cohesion, promoting sustainable investment … But the unfortunate effect of our seeing these inputs to well-being as incalculable has been that they are treated as free. We want to help to safeguard employment and income in the long term through continual growth, economic success and future-oriented corporate management, combined with environmentally friendly working methods. In 2016 many world leaders adopted the United Nation’s 17 global goals/Sustainable Development Goals to improve life all around the world and preserve the earth’s resources and fight … That evolved into a more strategic stance—let’s call it Sustainability 2.0. The United Nations and the World Bank are also working on the problem. 20. Start with a committed core. It’s generally cheaper to buy the product that has a worse impact on its environment than the equivalent product that does less harm. 12. If the entire world ate like the average American, there would not be enough water in the world to sustain the global population. Of course, the bounty of nature is priceless. The law was to go into effect in January 2011, but the French National Assembly postponed implementation following heavy lobbying by an influential economic sector. The SAC’s index called for separate measures of various environmental impacts—energy, water, carbon, air, toxics, biodiversity, and land use—and social impacts. 27. BBI JU connects key biobased sectors to ultimately create a sustainable and competitive biobased economy in Europe. Designate a driver. The researchers are frank: “Current economic models are deeply inadequate in capturing the opportunities of such a transformational shift, or the grave dangers of climate inaction,” they write. China is the world’s top polluter emitting 10,357 metric tons of carbon dioxide, followed by the United States, India, Russia and Japan. In July 2008, the Commission proposed a package of actions and proposals on SCP and Sustainable Industrial Policy (SIP) (COM(2008)0397), which aimed to improve the environmental performance of products throughout their life cycle, to increase consumer awareness and demand for sustainable goods and production technologies, to … An … It may be hard to imagine such enlightened efforts being undertaken at a scale that would materially reduce the impact of manufacturing and agriculture on the planet’s ecosystems. Progress in each area spurs progress in the others, with the result that the long-sought alignment of a firm’s prosperity with the best interests of the planet seems not only possible but inevitable. 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