World Economic Forum Explodes The Profits Vs. Sustainability Myth
strongly suggests the conventional wisdom is wrong. The pathway to future profits begins by embracing the transition to a sustainable economy. Adhering to the old way of thinking is the real road to negative economic consequences. Here are the key findings from the World Economic Forum98% of CEOs believe it is their job to make business more sustainable, but many are concerned that it could hurt their bottom line.
“Ambition is not a problem: 98% of CEOs believe it is their role to make their businesses more sustainable, up from 83% in 2013. Tangible action, however, is somewhat lacking. Too often, companies still see sustainability locked in a perceived trade-off with profitability. This reinforces the traditional tight focus on short term financial results, making it hard to justify integrating environmental and social impact into decision making. The pollution is ignored.
The results suggest that organizations looking to unlock sustainable value at scale should not tear up the traditional business case. Instead, they should enhance it to meet today’s challenges. One of the business leaders, John R. Tyson, CFO of Tyson Foods, noted, “Companies need to develop a much more sophisticated business case that brings environmental and social elements in alongside more familiar financial metrics.
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