The Hindu Business Line : ‘Sustainability taking centre-stage’

Companies globally are under increasing pressure from their stakeholders to provide sustainable development to business as an integral part of their long-term strategy to enhance shareholder value. “Sustainability is moving centre-stage for business leaders in the wake of rising social, environmental and economic pressures. It applies to every industry from cement to shoes,” says Bruno Berthon, Director-General Counsel, Accenture.

The UN defines sustainable development as development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs.

According to Berthon, businesses in India and China have a significant role to play as emerging global economies since their exposure to the global environment is increasing. “It is all about planet, people and profit. In the years to come, this will become a trend, with concerns similar to that in the Western world today. Besides being cross-industry, it will differentiate a responsible business from a not-so-responsible business,” he says.

Observing that the younger generation was sensitive to the requirement of a sustainable future, he says, “Good business practices are not just about volume growth but also about creating practices and values. Stewardship in business is also about leaving a legacy for future generations,” he says.

Calling on business to invest in the transition to a low carbon future, he lists recycling of materials, using less energy and reducing emissions as ways in which companies could become more sustainable.