Green Jobs
In 2021, sustainability in corporate culture went mainstream. There is no going back to the way things used to be in the past.
In 2021, sustainability in corporate culture went mainstream. There is no going back to the way things used to be in the past.
Sustainable business practices, once a talking point in presentations about future goals, has become more commonplace in the here and now. After years of being something corporations would do someday, sustainability in business is the new normal.
The Harvard Business Review reports that sustainable business “went mainstream” in 2021. Many companies now operate under the criteria of ESG – environmental, social, and governance. Investors now use ESG to decide what ventures to financially support.
The environmental criteria consider how a company performs as a steward of the environment. Social criteria examine a company’s relationship with employees, suppliers, customers and the communities where they operate. Governance involves a company’s leadership, audits, internal controls and executive pay.
The emergency of ESG provides a major sign that the private sector takes sustainable business practices seriously. While the actions people take in their homes remain important, the collective actions of businesses worldwide can have a much bigger impact on the planet’s climate.
A change in the attitude of consumers is part of what has driven the change in how companies think about sustainability. Consumers now demand that the companies they buy from demonstrate a commitment to issues such as sustainability and having a diverse workforce. This extends beyond the business itself and to all its partners in the supply chain.
This type of free market-driven change in how companies treat the environment has been long expected, but never realized. The country now seems on the road to achieving that goal. The signs include the following.
Harvard Business Review called the current moment “the end of the beginning. No business leaders seriously doubt that sustainability should be on the agenda, and companies are moving from incremental improvements to bolder, systemic approaches that create a net positive impact on the world.”
With even oil and gas giants taking on board members who promote green business initiatives, it’s easy to see how consumer sentiment is aligning with private business goals.
A clear sign of this came recently from Larry Fink, CEO of Blackrock, the world’s largest asset manager. In a letter to clients made public, Fink wrote that shareholders, employees, customers, communities and regulators “now expect companies to play a role in decarbonizing the global economy.”
He later added, “Every company and every industry will be transformed by the transition to a net zero world. The question is, will you lead, or will you be led?”
Sustainable business practices not only are the right thing to do for the planet, they also make sound fiscal sense. Businesses can now become leaders in fostering changes that can lead to a better planet.
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