This book provides an overview of the business and investment implications of sustainability. Over the past few decades, the world has witnessed significant improvements in economic development that meet a wide range of human needs. Ensuring that such development takes place in a ''sustainable'' way is the central focus of many recent social movements and industrial policies.These trends have created a business environment and investment climate in which there is strong consumer demand for sustainable solutions. And they have led to trillions of dollars in both private investments and public subsidies to suppliers of solutions that address some of the most pressing negative consequences of unbridled economic development: climate change caused by fossil fuel consumption, loss of access to water, uncontrolled population growth, depletion of both non-renewable resources and renewable resources, pollution, loss of biodiversity, etc. Not surprisingly, many private businesses and investors are attracted to what they perceive as a potentially lucrative and high-impact area of the economy, while others see their contributions to sustainability as a social and corporate responsibility.Economic development with sustainable solutions is, however, a complex field. Both businesses and investors that venture into this area will immediately face a myriad of challenges, ranging from dealing with the pressure of conflicting ideologies, activists, social networks, powerful industry lobbies on both sides of the ideological divide, and market distortions from ever-increasing government industrial policies, regulations, and subsidies.This book provides insights for businesses and investors on how to navigate this complex landscape. It describes both opportunities and risks of engagement in the field of sustainability. It is intended, as a primer for university business schools and schools of public policy and administration where there has been recent increased interest in the topic but a dearth of comprehensive synthesis. The book is also intended for a broader readership, including thought leaders, policymakers, regulators, technical specialists, the press, social media, and the public at large.
This book explores the business and investment implications of sustainability, both opportunities and challenges. The volume lays the groundwork for understanding the growing areas of sustainable business and sustainable finance. Over the past few decades, the world has witnessed significant improvements in economic development that meet a wide range of human needs. Ensuring that such development takes place in a 'sustainable' way is the central focus of the book. The book provides insights for businesses, investors, and others on how to navigate this complex and evolving landscape.The United Nations and global leaders in business and investment have emphasized the important role that the private sector can play in protecting the environment and promoting a more sustainable use of resources.'What is needed now is a new era of economic growth — growth that is at the same time socially and environmentally sustainable. This call for action in the Forward to the 1987 Bruntland Report (Our Common Future), which emphasizes that economic growth is part of the solution not the problem, still rings true nearly 40 years later.Gro Harlem BrundtlandReport of the World Commission on Environment and Development, United Nations 1987'Private sector leadership is vital to advance sustainable development and fight the existential threats of climate change, biodiversity loss and pollution.'António GuterresUnited Nations Secretary-GeneralMessage to International Chamber of Commerce's 13th World Chambers CongressUnited Nations Press Release on the Environment, June 21, 2023 (SG/SM/21851)Like Henry Ford's strategy over 100 years ago at the time of the mass introduction of the Model T Ford, Elon Musk had a similar strategy for switching from fossil fuels to renewable energy powered cars. '[Initially enter] the high end of the market, where customers are prepared to pay a premium, and then drive down [the] market as fast as possible to higher unit volume and lower prices with each successive model.'Elon MuskCEO Tesla Inc, Interview with Solar Tribune, Feb 16, 2020'Investing for the long term requires taking a long-term view of what will impact returns, including demographics, government policy, technological advancements, and the transition to a low carbon economy.'Laurence D FinkBlackrock Chairman and Chief Executive Officer, Larry Fink's Annual Chairman's Letter to Investors,Blackrock, 2023'Capital markets are an extraordinarily powerful tool in the fight against climate change. Government action is certainly critical. But ultimately, reducing emissions globally depends on the private sector recognizing the commercial opportunities that sustainability presents.'Michael R BloombergFounder of Bloomberg LP and Bloomberg PhilanthropiesDavid M SolomonCEO of Goldman SachsMobilize the Market to Fight Global WarmingBloomberg, Opinion Article, April 27, 2021
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