Fluent Essays

Take a look at The World is Not Enough link.  It shows how much land would be needed if all of the people in the world consumed like the average person in Indonesia or the average person in the US.  Bottom line, if everyone in the world consumed like Americans, we would need 5 Earths!  Given that we only have one Earth, and that Globalization is a rising tide that lifts all boats what are your thoughts on what needs to happen next?  What would happen if every country was as rich as the US and consumed resources like people in the US?  How does this related to the Sustainability topic youve read about? https://www.statista.com/chart/10569/number-of-earths-needed-if-the-worlds-population-lived-like-following-countries/ https://sustainabledevelopment.un.org/content/documents/211617\%20Goals\%2017\%20Partnerships.pdf https://learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5fcef915a349e/441084?X-Blackboard-Expiration=1634536800000&X-Blackboard-Signature=FMCzTLNL0ssWKedai16xgqRvj6L0Kpn7\%2BWKVneEtQeY\%3D&X-Blackboard-Client-Id=147419&response-cache-control=private\%2C\%20max-age\%3D21600&response-content-disposition=inline\%3B\%20filename\%2A\%3DUTF-8\%27\%27Global\%2520Sustainability\%2520Survey\%2520-Leaders-Report-2020.pdf&response-content-type=application\%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Date=20211018T000000Z&X-Amz-SignedHeaders=host&X-Amz-Expires=21600&X-Amz-Credential=AKIAZH6WM4PL5SJBSTP6\%2F20211018\%2Fus-east-1\%2Fs3\%2Faws4_request&X-Amz-Signature=d035341a5be8e8dbce4e78cf88f74bb543e07505a60acdb3720f73873782c146 Sustainability and Global Business What is Sustainability? Most commonly accepted definition of sustainability: “Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” United Nation’s Brundtland Commission 2 Max-Neff Human Needs: subsistence, protection, affection, understanding, participation, creation, identity and freedom. Global Drivers of Sustainability Increasing Industrialization Proliferation & Interconnection of Civil Stakeholders Emerging Technology Effects of Globalization- poverty, inequity, population explosion There is a Hierarchy of Outcomes related to Sustainability Environment Economy Society Social Economic Environmental 4 Why discuss this? To give you a comfort with the language and ability to negotiate with it. Security Oceans Urban Growth Industry Energy Species & Ecosystems Population & Human Resources Food Scarcity Economy Sustainable Development Areas of focus in Our Common Future, UN World Commission on Environment and Development (1987) Sustainability = Opportunity “Welcome to the new world of sustainability. As resource supplies fail to keep up with burgeoning demand, companies will start treating sustainability as a central part of management rather than relegate it to a vaguely defined office of social responsibility. The world as a whole is on the verge of a new wave of innovation in resource management. And as with all innovation, this will create opportunities for companies that can help their customers address these concerns.” ..BCG Katsuaki Watanabe, CEO of Toyota For us to become the genuine number one - in quality - we have to realize the dream vehicle, which makes the air cleaner, never injures people, makes people healthier and can run on a single tank of fuel between London and Istanbul. For Discussion (possible essay question): How is the notion of Innovation (tied to Sustainability) relevant to Freidman’s ideas about competing in a Flat World? Business Benefits of Sustainability License to Operate Cost Reduction or Avoidance Market Opportunity or Advantage Employee Engagement Ability to Seize the Innovation High Ground Access to Investment Capital Sustainability and Corporate Social Responsibility (CSR) Strategies by which businesses and communities seek economic development approaches that also benefit the global and local environment and quality of life Economy Jobs, Prosperity, Wealth creation Environment Natural Resources Biodiversity Society Social Equity Sense of community Healthy Ecosystems Thriving Local Economy SUSTAINABLE DEVELOPMENT Sustainable Development Venn Diagram Triple Bottom Line TBL“ or 3BL, What is TBL? An expanded spectrum of values and criteria for measuring organizational and societal success – economic, environmental, social. In the private sector, a commitment to CSR implies a commitment to some form of TBL reporting. Novo Nordisk TBL The Triple Bottom Line is made up of Social, Economic and Environmental People, Planet, Profit People, Planet, Profit Community Natural and Built Environment Individuals Equity Economy Ecology People Profit Planet SYNERGY 15 Why discuss this? To give you a comfort with the language and ability to negotiate with it. Triple Bottom Line Accounting Expanding the traditional reporting framework Take into account environmental and social performance in addition to financial performance. Companys responsibility to stakeholders rather than shareholders. Legislation Legislation permitting corporations to adopt a Triple Bottom Line is under consideration in some jurisdictions. The triple bottom line has been adopted as a part of many companies’ Sustainability Strategy What is triple bottom line reporting? 􀂃 “At its narrowest TBL reporting is a framework for measuring and reporting corporate (organizational) performance against economic, social and environmental parameters” www.sustainability.com 􀂃 A move from one dimensional economic reporting to three dimensional economic, social and environmental reporting How is TBL reporting accomplished? Economic 􀂃 Generally Accepted Accounting Principles 􀂃 Customers 􀂃 Suppliers 􀂃 Employees Social 􀂃 Bribery and corruption 􀂃 Political contributions 􀂃 Child labor 􀂃 Security practices 􀂃 Indigenous rights 􀂃 Training and diversity Environmental 􀂃 Energy 􀂃 Water 􀂃 Biodiversity 􀂃 Emissions, effluents, and waste How organizations strategically manage CSR through triple bottom line reporting TBL reporting enables organizations to: 􀂃 Measure and manage their financial and non-financial performance and impacts, or lack thereof 􀂃 Have their performance and impacts verified independently 􀂃 Communicate effectively with consumers, governments, investors, employees, other stakeholders and watchdog groups