- Read Time: 5 min
Leading corporate dialogues is one of the most important skills in modern management.
Showing 1-20 of 94
Some techies think that blockchain and “tamperproof databases” will revolutionize more than money: A blockchain platform for the energy sector could accelerate the transition to renewables. Blockchain can help by making tracking energy more granular, automated, and trusted, which can allow companies to better verify claims of carbon neutrality. It could also streamline financing and insuring new energy projects and even help create a new kind of energy market.
A strong governance with a steady hand assures that a company achieves a given purpose properly, within the boundaries of ethics and law.
Companies that want to leverage their business practice to support the SDGs need to do so in an effective, ambitious, and conscientious way.
The investor community increasingly demands that companies share their long-term plans, which they can orient around growth, strategy, and acknowledgment of risks.
Companies that seek to meet the challenge of operating both profitably and sustainably can benefit by learning which sectors have the most impact on sustainable development goals.
It’s possible that humankind has created complex, systemic problems that exceed our human capacity to solve them. Some companies, particularly the tech giants, are recognizing this possibility and looking to AI as a tool for solving environmental and social problems. One of these companies is Microsoft. In December 2017, it committed $50 million to its new “AI for Earth” program to fund innovators who are making progress in four critical areas — climate change, water, agriculture, and biodiversity.
As digital technology advances, the opportunity to use it to create a more sustainable, equitable world should not be overlooked. The first step: Define key terms and set up a framework for understanding how the digital revolution can also become a revolution for sustainable development.
As the effects of climate change become more prominent, business needs to grapple with its own attitudes toward government. A more destructive physical environment requires a more nuanced relationship in which government is viewed as a partner in enabling and supporting markets rather than as a regulator that needs to be managed.
It’s not smart to base any part of your strategy on what you see in the rear-view mirror — and that’s particularly true when you develop strategies for navigating modern, thorny environmental and social challenges. The norms and expectations about how companies manage sustainability issues are shifting fast: Just six years ago, only 20% of the S&P 500 companies produced sustainability reports, while by 2016, 82% did. Change is coming to business — and executives need to adjust.
Most CEOs have detailed long-term plans, which are often closely held secrets out of concern that competitive advantage may be undermined by detailed disclosure. Yet disclosing a long-term plan provides an opportunity to identify financially material sustainability issues and demonstrate how the company manages business-critical issues — information that’s valuable to investors.
The U.S. withdrawal from the Paris Accord stems from a fundamental disagreement over whether industries and markets have world-changing power. The irony: Despite his strong stance on market solutions, the President’s position on climate change assumes markets to be weaker, not stronger.
Business needs to show leadership in sustainability as it never has before. As regulations and guidelines loosen, some organizations may give in to the temptation to let profit motives soften their own environmental policies. To do so would be shortsighted — and not only for the most obvious reasons.
In the final report of our eight-year study of how corporations address sustainability, MIT Sloan Management Review and The Boston Consulting Group examine the crossroads at which sustainability now finds itself. Despite sociopolitical upheaval that threatens to reverse key gains, our research has shown that companies can develop workable — and profitable — sustainability strategies to reduce their impact on the global environment by incorporating eight key lessons.
Companies know climate change is relevant to their businesses, but they don’t address it in corporate reports because corporate leaders don’t believe it’s material to their business. The effects of climate change are beyond their planning horizon, they think, or they just aren’t clear whether or how climate change might be a material business risk. The Financial Stability Board (FSB) is hoping to change that.
Integrating sustainability into company operations often means partnering with government agencies as well as nonprofits. For new businesses, two important points to keep in mind are that (1) it’s never too early to start, and (2) the collaborative approaches for each partnership may not be the same.
Water’s deceptive abundance and low cost in many countries is not yet promoting responsible management within many companies. That needs to change, argues Alexis Bateman, director of the MIT Responsible Supply Chain Lab. “Increasingly stressed water resources represent a major threat to the integrity of global supply chains,” she writes. Mitigating or eliminating these risks will require action on multiple fronts.
While most executives recognize the need to develop more sustainable business models, putting this goal into practice has been a challenge. Too many initiatives are stymied by a set of common obstacles. By recognizing how executing sustainability initiatives differs from typical change management, corporate leaders can promote more lasting gains in sustainable business development.
Companies can continue creating value in the face of disasters, both natural and manmade, when they recognize and develop strategies to take advantage of their interdependencies with the societies in which they operate.
Showing 1-20 of 94