We know that businesses have a major role to play to champion sustainable goals and practices for the greater good of society. Alongside governments, civil society, and financers, businesses drive innovation, value creation and economic activity.
The problem is that much economic activity does not contribute to Social Development Goals and may in fact undermine them. So how do executives balance the leadership dilemmas inherent in positioning their company to remain competitive in the long term whilst performing in the short term?
How can businesses rewire their business model to thrive economically in a sustainable way?
It will not be easy. There will be winners and there will be losers. There will be a re-alignment of the economy and activities on a global scale, many businesses will be required to shift activities away from heavy carbon producing to a more sustainable economy. They may need to forego some short-term income streams in unsustainable activities, whilst growing new sustainable markets.
Many businesses have already started on that journey and are starting to reap the benefits of their eco-friendly activities and policies. Take Tesla for example, other than being the leading automobile manufacturer of electric cars, less little know is how much revenue the company generated through selling their carbon credits to other car manufacturers. Take a guess?...
Tesla’s carbon credit sales soared to $1.78 billion in 2022 (green.earth) its quarter four carbon credit sales jumped 47% year over year, and they reported a revenue of $1.78 billion from the sale of carbon credits.
Aligning business strategy and plans to SDGs also presents opportunities, not only challenges, as demonstrated by the example Tesla set. It is clear that new opportunities are emerging from the redefining of market boundaries, and many businesses will find themselves in very different markets from the ones they consider their core business, with rewards for those who emerge as leaders.
To understand more about how to make use of the emerging opportunities available to your business
visit us at www.lnktechnologies.co.uk and book a free consultation with one of our sustainability managers.
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