31 August 2022

Sustainable Business - An Oxymoron?

by Soham Pathak

As the earth heats up, freshwater becomes a scarce commodity, access to food remains uncertain, and other fields of concern emerge or aggravate further, it becomes evident that humanity must take prompt, stern measures to get its act together. Since most enterprises had hitherto neglected the adverse impacts of their operations, the corporate world is often deemed the primary cause of the natural and socio-economic imbalances that society faces today. Thus, a significant portion of the responsibility of hauling the planet out of its predicament rests on business houses. To assist them in their endeavors and provide benchmarks for evaluation, the Agenda for Sustainable Development was adopted by the United Nations.

However, with every novel concept comes its share of cynics, with every epiphany, its unwavering opposition. Whether the business world can reform itself and wash its soot- covered hands of its previous sins leads to doubts and dilemmas, given that most companies still consider ‘sustainability’ a luxury investment.

I think Interstellar’s Cooper puts it best:

Case - “It’s not possible.”

Cooper - “No. It’s necessary.”

Take Woolworths. The company releases an annual sustainability report, highlightingactions taken to orient itself towards the environment and improving working conditions, among other things. The enterprise’s objective of eliminating food waste to landfills by 2025, leading it to establish the Countdown Food Rescue Summit, addresses the second, twelfth and seventeenth SDGs. With many such endeavors, Woolworths is treading towards becoming a sustainable company by 2025.

 

Shifting towards sustainability isn’t easy, but then again, organizations like Woolworths aren't achieving the impossible; they’re merely proving that an amalgamation of economy, ecology and society is indeed possible with slight tweaks in managerial attitudes and organizational goals.

Hence, the question posed to business houses isn’t an ‘If.’

It’s a ‘How’.

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