Sustainability spells successful investments for businesses in the new millennium. Investors are factoring in the environmental stewardship variable when calculating future profitability. Financially speaking, it’s in a company’s best interest not to show up short on the corporate socially responsibility meter.
Expense reports are starting to list the cost and benefit of socially responsible business practices. Anne-Leonore Boffi, Assistant Project Manager of the World Business Council for Sustainable Development’s (WBCSD) Water Program, told WaterWideWeb “Simply said, all businesses need water.”
Boffi spearheaded efforts at WBCSD to launch the Global Water Tool, a free and accessible tool to assess water availability for global supply chain needs. “With increasing pressures on freshwater resources, businesses face risks in relation to security access to water in sufficient quantities at the right time and of adequate quality.”
Please watch the video of the Global Water Tool here
At the expense of inefficient water management, businesses stand to lose profit and reputation. Corporations that can’t readily access water to manage operations are at risk for decreasing rates of timely production. Moreover, public debates between major corporations and local end users about access to water resources could devastate investments in said companies. Bad press about water disputes will certainly undermine a company’s credibility and future success.
Stewarding natural resources in a transparent way has fortuitously worked its way into the global business management agenda. “As investors become aware of potential risk exposure to water-related challenges, they will seek to assess companies’ ability to anticipate and respond to these challenges,” continued Boffi.
Creative solutions to climate challenges imposed on the private business sector are the answer to water supply worries. These solutions also offer a new competitive marketplace for cutting edge solutions for ever mounting concerns about water access.
Dr. Terry Yosie, President and C.E.O of the World Environment Center told WaterWideWeb, “The vision of sustainability for business can be connected to innovation.” Developing new mechanisms and translatable technologies for sustainable development are common denominators in the equation of increasing profit margins in the global marketplace.
Interestingly, Yosie concluded the interview with WaterWideWeb saying, “It’s really the private sector that has the capability to address these needs.
Should the public sector turn their eyes to private sector parties to pioneer the sustainable development movement?
Is the private sector ready to charter the frontier of completely transparent socially responsible business practices that protect the environment and the wallets of Wall Street investors?
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