Industry is showing unprecedented interest in the business potential of sustainable development, an approach to developing long-term prosperity by integrating strategies for economic success, environmental quality, and social equity. In a recent Arthur D. Little survey on business and sustainable development/ for example, 95 percent of companies responding viewed sustainable development as genuinely important, and 83 percent saw business value in implementing sustainable initiatives. At the same time, when we look beyond a few leaders in key industries, most companies seem uncertain about how to capitalize on the business value of sustainable development, particularly in the short term.
In this article, we provide a pathway (Exhibit 1) for helping companies assess the implications and capture the business potential of sustainable development thinking. We look at how to define a corporate direction in relation to sustainable development, how to take action, and how to keep the initiative going through organizational alignment and continuous learning.
Authors: Gilbert Hedstrom, Peter Stroh, Stephen Poltorzycki
Source: Prism (Arthur D. Little)
Subject: Social Responsibility (ESG)
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