How sustainability is now a key driver of innovation

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By: Manila Standard

Recently, more companies are embracing sustainability as an integral part of their business. Business leaders consider sustainability a strategic priority for their businesses since long-term business viability can be achieved by improving efficiency, reducing waste and carbon footprint. It also helps that by remaining relevant to its stakeholders, having sustainable business practices can help improve brand image and generate wider brand awareness.

There are four key factors that drive this:

1. Shareholders now expect businesses to become more sustainable. From 2018 to 2020, there has been a 15 percent rise in the global sustainable and responsible assets in five major markets, namely, Europe, the United States, Japan, Canada, and Australasia, reaching $35.3 trillion, says a recent report released by the Global Sustainable Investment Alliance.

2. Investors now integrate Environmental, Social, and Governance (ESG) activities into investment decisions. They now devote funds to low-carbon and energy-saving projects. At least $90 trillion is expected to be spent on climate-smart infrastructure by 2030, according to the World Bank.

 

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