A question hangs over the end of lockdown, and whether, with respect to the climate crisis, we fall back into old habits or rebuild better.

In either case, business has a starring role to play. More and more businesses have been introducing sustainable policies and business practices in recent years, but sustainability is not the only goal. Businesses must support fairness in climate action for the most vulnerable people in their supply chain and the communities in which they work. But at a time of economic hardship and potential recessions, when survival is the name of the game, these initiatives can tumble down the priority list.

Sustainability and business are not in opposition. Indeed, most published studies on the topic have concluded the opposite. Of 100 studies of the relationship between sustainability and competitiveness, 64 showed that sustainability policies were, in fact, good for the bottom line, and good for long-term financial performance As for the others, just two found overtly negative effects.

How to build sustainability into business 

  1. Core business
    There are three main ways to put this into practice. The first has to do with your core business. It begins by committing to putting people first. You must identify the vulnerable stakeholders in your operations, value chain and communities, and identify the particular threats and problems they face.
  2. Philanthropy
    You can explore ways to make the most of corporate philanthropy, employee engagement and social investment to support the most vulnerable people and to make sure that voices within the communities in which you operate are heard.
  3. Policy engagement
    Engage in policy dialogue, raising awareness and strengthening partnerships to support the most vulnerable people. Businesses can form partnerships with peers, civil society and authorities and advocate for equitable and inclusive climate solutions.

Read the full article about embedding sustainability practices into business models byZahid Torres-Rahman at Talk Business.