{"id":3053,"date":"2020-04-21T09:18:00","date_gmt":"2020-04-21T02:18:00","guid":{"rendered":"https:\/\/www.esrith.com\/?p=3053"},"modified":"2022-04-07T16:59:49","modified_gmt":"2022-04-07T09:59:49","slug":"the-business-value-of-sustainability","status":"publish","type":"post","link":"https:\/\/www.esrith.com\/en\/blog-en\/the-business-value-of-sustainability\/","title":{"rendered":"The Business Value of Sustainability"},"content":{"rendered":"\r\n<p>In quick succession in October 2018, the Nobel Prize in economics was co-awarded to a Yale professor who pegged the cost of poor environmental practices to economic health, and a United Nations (UN) panel of scientists revealed that the world has less than a decade to take action against devastating climate change. <br \/><br \/>Sustainability is once again front-page news. <br \/><br \/>And while governments struggle toward collaborative solutions, businesses are driving corporate sustainability efforts backed by big data analytics and location intelligence. <br \/><br \/><strong>The UN<\/strong><strong>\u2019s Sustainable Development Goals<\/strong> <br \/><br \/>On September 25, 2015, heads of state gathered at the United Nations headquarters in New York City. At that summit, 193 countries signed on to a new set of global sustainability targets. The UN\u2019s Sustainable Development Goals (SDGs) use simple language to lay out an international regulatory framework for radical changes to be made in the world by the year 2030. <br \/><br \/>The SDGs are known as a government initiative, but companies worldwide consulted on their development, and they will have a potentially enormous impact on the business world. In part, that\u2019s because their successful implementation will require investment and support from the private sector. A report by the UN\u2019s Sustainable Development Solutions Network estimates the cost of SDGs at US$1.4 trillion per year until 2030. The same report notes that approximately half of the investments can be privately financed. <br \/><br \/>The sustainability effort is of particular interest to companies that convert natural resources into products\u2014among them energy providers, car manufacturers, and food purveyors. For those businesses, investment in the SDGs can be critical to conserving the raw materials of production for decades to come\u2014and locking in long-term competitive advantage. <br \/><br \/>Across the business world, executives can see the implication: sustainability could soon become a major business opportunity. <br \/><br \/><strong>The Role of the Private Sector<\/strong> <br \/><br \/>Just one day after the September 2015 summit, then-UN secretary-general Ban Ki-moon held the United Nations Private Sector Forum to discuss the role of businesses in achieving the Sustainable Development Goals. More than 200 executives from organizations around the world joined him in New York, including leaders from Dell, Deloitte, Facebook, Fidelity, PepsiCo, and Siemens AG. <br \/><br \/>The secretary-general told business leaders, \u201cI am counting on the private sector to drive success. Now is the time to mobilize the global business community as never before. . .\u00a0 Trillions of dollars in public and private funds are to be redirected towards the SDGs, creating huge opportunities for responsible companies to deliver solutions.\u201d <br \/><br \/>Corporate organizations seem to agree. In a 2017 McKinsey survey, nearly 60 percent of organizations said they are more engaged with sustainability than they were two years prior, with engagement levels rising to 80 percent in certain industries like packaged goods and infrastructure. <br \/><br \/>Indeed, as climate change continues, companies that rely on natural resources are taking a hard look at the long-term viability of their products. In some regions of the world, for example, water supplies might soon run out. Reliable cropland could turn fallow as temperatures and weather systems shift. And yet, just 21 percent of business executives told McKinsey that business growth was a top driver of their sustainability initiatives. One way to read that finding: a select few industry leaders have figured out that smart, sustainable practices sow the seeds of long-term growth and competitive advantage. <br \/><br \/>Innovative companies are adopting tools such as artificial intelligence, IoT, and analytics to address these challenges in ways that also benefit the business\u2014doing well by doing good. In fact, according to the McKinsey report, nearly half of the organizations using technology to advance sustainability are employing big data and advanced analytics, which typically includes location intelligence. <br \/><br \/><strong>Where Sustainability Meets Opportunity<\/strong> <br \/><br \/>One such company is Nespresso. An autonomously managed subsidiary of Nestl\u00e9 Group, Nespresso is known globally for its premium single-serving coffees. Key to Nespresso\u2019s success and customer loyalty is the company\u2019s emphasis on\u2014and investment in\u2014the consistency of its coffee\u2019s flavor. <br \/><br \/>However, coffee is a delicate crop, frequently grown in developing countries and highly dependent on healthy ecosystems. This leaves coffee\u2014and Nespresso\u2014susceptible to the increasingly volatile effects of sociocultural events and climate change. For Nespresso, acting today to avoid the perils of tomorrow is not just good citizenship; it\u2019s sustainable business. <br \/><br \/>\u201cSustainability is really at the core of our business. It is an imperative to our long-term business success,\u201d explains Yann De Pietro, operations and sustainability technology manager for coffee at Nespresso. \u201cThere have been studies saying that by 2050, Arabica coffee may not be available anymore in some countries if we don\u2019t do anything now.\u201d <br \/><br \/>The company is working to combat that decline so that the seeds of Nespresso\u2019s competitive advantage remain fertile long into the future. <br \/><br \/><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>In quick succession in October 2018, the Nobel Prize in economics was co-awarded to a Yale professor who pegged the cost of poor environmental practices to economic health, and a United Nations (UN) panel of scientists revealed that the world has less than a decade&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[89],"tags":[39],"class_list":["post-3053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en","tag-sustainable-development"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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