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- Report
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Sustainable Capitalism
- 01/11/2010
Capitalism must find new ways of co-existing with the environment
iandavid, Creative commons (2011) ©Scope
As blame for the world's economic, social and environmental woes coalesces around the twin foes of self-interest and short-sightedness, a movement for a new business model built on responsibility and longevity has emerged.
If 'growth' was the watchword of the CEO during the 2000s, then it appears that 'sustainability' will replace it for the next decade. The recent UN Global Compact/Accenture report 'A New Era of Sustainability' found that 93% of CEOs from 800 companies around the world believed that sustainability was critical to the future success of their business.(1)
Defined narrowly, sustainability is linked to environmental resources, but more companies are now aiming for a broader definition of sustainable growth. For Amanda Sourry, chairman of Unilever UK & Ireland, "the old model of ever greater consumption, with growth at any price, is broken. Companies that succeed in the future will be those that reduce their environmental impact while increasing their social and economic impacts." Where once Milton Friedman’s maxim "the business of business is business" would have sufficed, today the business of business is staying in business. -
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