For years, the cost of sustainability is what held many businesses back. Now, we have reached the precipice where the cost of ‘not’ being sustainable might be too high.
While 2020 has proved unpredictable, to put it lightly, sustainability will still be a key trend permeating many discussions in 2021 and beyond. Sustainability is increasingly becoming a business imperative—one that organisations cannot afford to overlook as they build their post-COVID business strategies.
As more companies look to adopt advanced systems and services that improve circularity, resiliency, and efficiency, investment in green tech, will ultimately help increase the sustainability market substantially within the next decade.
The cost of not being sustainable
What is the cost that comes along with not being sustainable? To better understand this, let us look at how we got to where we are today.
During the industrial revolution, companies’ primary focus was profit. It was all about optimising the supply chain for enabling business models that increased profits. The bottomline was king. Quite simply, the common policy approach to economic development has been to concentrate on getting rich first and hoping to have the resources to fix the environment later—the ‘grow now, clean up later’ mindset.
This story is from the July 2021 edition of Indian Management.
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This story is from the July 2021 edition of Indian Management.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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