by Yuhan Wang
People face ethical dilemmas from time to time, and most of them seem unsolvable. Regardless of how much effort you make, the problem continues. One dominant example is the climate change issue: not only are humans running out of time to curb the upcoming global upheaval, but any actions to change current business also confronts severe ethical challenges. We increasingly hear the voices of changing the status quo but often have no clue what future firms should look like.
Our society must understand that only businesses that are sustainable and align with high ethical standards deserve a place in the future where sustainable development goals guide humankind weathering through an increasingly boiling planet. The notion of mass consumption, the object of corporate profit maximization, and the definition of successful business shall warrant a complete overhaul. Australia has already become the global frontline of the climate crisis, and entities operating on this red island need to devise more sustainable ways to echo the United Nation's SDGs initiative. Perhaps more importantly, they need to realize the limited and carbon-dense fossil fuels are not the way to go. AGL Energy Ltd, one of Australia's largest greenhouse gas emitters, has published a pathway to carbon neutral by 2050 and gradually phasing out its coal-fired power stations. This should serve as a clear road sign for other entities that the ethics of future generations are indispensable.
When facing an imminent tempestuous world, the longer we wait, the more appalling outcomes will happen. The best time for businesses to take action toward sustainability and to operate more ethically is now. Demand has already been here: research has shown Australians want ethical and sustainable products with a landslide. Sydneysiders are very likely to pay more for a net-zero flight to London than current Qantas stopovers.
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