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DONE RIGHT, BUSINESS RESPONSIBILITY CAN DEFINE THE BOUNDARIES OF THE CORPORATION—AND ITS VERY SOUL!
The clock is ticking in more ways than one!
The perpetually growing economy on which our financial system rests has now come into conflict with a finite biosphere. This moment in time needs reflection and action at great speed. Economic opportunities, well-being of society, environmental and technological balance need fresh new thinking.
The shift starts with ensuring development without carbon emissions, products that can be reused and recycled, jobs that are green and an economy that is inclusive. This shift requires a collaborative process, breaking down the blocks of the past and visualising the future in a completely different way.
Shift focuses on the transition that companies need to make towards the net zero and circular economy without leaving anyone behind. It also focuses on the importance of environmental, social and governance (ESG) norms and how they can be integrated into corporate strategies.
If done right, responsibility for the modern world can define the boundaries of the corporation—and its very soul!
Namrata Rana is Director, Strategy and Brand at Futurescape. She is an alumni of IIM Ahmedabad and the University of Cambridge Institute for Sustainability Leadership (CISL). She works with governments, companies and NGOs on net zero transition and green jobs. She is the co-author of Balance: Responsible Business for the Digital Age.
Utkarsh Majmudar teaches at leading business schools in India and in the past has worked at several large corporations in India. He is a member of the Board of Governors at the IIM Raipur. He writes extensively on sustainability issues and has authored many case studies. He is the co-author of Balance: Responsible Business for the Digital Age.