What will drive Business Sustainability in 2017?

We will see companies going beyond regulatory compliance and government mandate and becoming a tremendous force for good.

0
280
He has also been awarded as CSR Professional of the Year 2016 by India CSR Network.

By Abhishek Ranjan

Do Well To DO Good And DO Good To DO WELL

A study from Harvard Business School found that“high-sustainability” companies from 1992 – 2010 did better in terms of profitability and stock-market performance than the rest.

In a recent survey conducted by Mckinsey, the top three reason that 3500 global execs cited for addressing sustainability and how the trends are changing:

  • The percentage of those who cite reputation/ regulations has stayed steady since 2010 (36 percent)
  • The figure for those who see sustainability as a way to align the company’s goals has more than doubled (to 43 percent)
  • Operations and lowering costs has declined as a reason (from 33 percent in 2011 to 26 percent

2015 United Nations Climate Change Conference, COP 21 was a game changer where developing countries like India promised to reduce emission intensity by 33-35% by 2030 and the role of corporations in making this happen will be highly talked about in 2017.

We will see companies going beyond regulatory compliance and government mandate and becoming a tremendous force for good.

I have listed the top ten drivers for Business sustainability in the year 2017:

  1. Business Case for Sustainability – Top Management Mandate
  2. Operational Efficiency
  3. Labor Satisfaction
  4. Corporate Citizenship
  5. Brand Value and Recognition
  6. Supply Chain
  7. Circular Economy
  8. Social Licence to operate
  9. Invisible Stakeholder engagement
  10. Institutional and Individual Investors concerns and demands

The mantra for 2017 going to be “Act Responsible and Think Sustainable and my next blog would focus on the role of people and culture in Sustainability. “Triple bottom line… it always makes sense. But we need to make it cultural”.

(Abhishek Ranjan is Global Head – Sustainability and CSR at Brillio Technologies)

Copy Right & Conditions: India CSR does not permit other websites/Agency to copy or reproduce or reprint the above article in any form.

Disclaimer: The views expressed by the author in this feature are entirely his own and do not necessarily reflect the views of India CSR.

Comments

comments

SHARE
Previous articlePunjab Govt. Opens 2000 Free Medicine and 660 Free Diagnostic Centers Across State
Next articleGround Realities of Skill India!
India CSR Network
India CSR Network is India's biggest and most trusted news portal in the domain of CSR & Sustainability. India CSR welcomes stories, statements, updates, reports on issues that interest you. Feedback, comments will make it more purposeful and resourceful. It is designed and maintained by India CSR Group. Contents are non-fiction. Though all efforts have been made to verify the accuracy, the same should not be construed as a statement of law or used for any legal purposes. In case of any ambiguity or doubts, readers are advised to verify with the source(s). Statement, articles, views and contributions can be sent to editor@indiacsr.in