Posted on 23 March 2009
Yesterday I wrote about the importance of environmentalists speaking in the language of business if they wanted to affect business performance. Today’s WSJ has an excellent article in support of this. The article reviews the success of a program at a Subaru manufacturer that embraced green manufacturing 20 years ago. The finding – that the project has provided terrific business results measured primarily through a waste reduction program. Read the full story
Posted on 22 March 2009
I don’t give a damn for the same old played out scenes
I don’t give a damn for just the in-betweens.
Honey I want the heart, I want the soul, I want control right now.
You better listen to me baby:
Talk about a dream; try to make it real.
Bruce Springsteen, Badlands
Dear Business Owner,
I am one of you. I love income statements and profit. I believe that your business should operate in a way that assures its long-term success. I don’t think that corporate responsibility should be a cost. Read the full story
Posted on 24 November 2008
Market competition today has changed. Providing a great product or service is no longer enough to sustain business success. From customers to government agencies, all are demanding companies to take on corporate responsibility. Suppliers, investors, consumers alike are demanding companies to examine their business practices and take responsibility for its impact on the environment and society. A survey of social trends conducted by the research firm GlobeScan in 2007 found that consumers, 55% surveyed in North America, punish companies whose business practices harm the environment. These discriminating consumers have created a $306 billion ‘green’ market.
Financial markets are also showing interest in the role of sustainability practices of businesses. Dow Jones has created Dow Jones Sustainability Indexes to track the financial performance of sustainability driven companies. Al Gore and David Blood made a point in McKinsey Quarterly May 2007 that investing in sustainability delivers above-average returns.
Sustainability issues and climate change are increasingly influencing purchase decisions of consumers and customers. A company that ignores environmental or social issues may limit its value through loss of opportunities.