14 Mar Sustainability Beyond the Environment: Incorporating Notions of Economy and Wellbeing
With sustainability gaining prominence in business agendas and motives, with more and more businesses and organisations realising the impact the rhetoric has on their long-term success, it might be time to understand sustainability from a much comprehensive lens. Fujitsu is setting the stage by incorporate a comprehensive sustainability strategy in their business model focusing on the environment, economies and wellbeing aspects of sustainability.
The climate crisis requires urgent notice, and businesses and corporations have a crucial role to play, not just by contributing towards the environment, but also by setting the stage, for others to follow suit. Fujitsu, by surveying 1000 businesses across 15 countries and 10 industries tried to evaluate how different companies are making a different to three pillars of sustainability.
The findings showed that companies have a wide-ranging view on Sustainability Transformation, with different objectives, although, the environment pillar had the most weight reflected on companies’ compliance with sustainability regulations. The trend lately is also significantly influenced by the new sustainability disclosure coming into effect across the globe like the EU’s Corporate Sustainability Reporting Directive. However, organisation are also focusing on other pillars of sustainability, by committing to developing sustainable supply chains and ecosystems, and putting enough emphasis on societal issues like employee health and wellbeing, equality and the broader health sector.
On the environmental front, Fujitsu is fueling environment change through digital innovation, focusing on AI, computing, network, data and security, and converging technologies. Together with IHI, they are also leveraging blockchain technology to create carbon trading and tracking ecosystem to identify energy savings in client’s supply chains. This could significantly contribute to a reduction of CO2 emissions.
On the economic front, studies have shows that the demand for sustainable goods have been on the rise, the cultural shift is visible in Fujitsu’s research, with more than half of the organisations expressing worry in their long term success if they don’t address sustainability issues today. In terms of social wellbeing, Fujitsu’s research shows that societal change has become a crucial part of social sustainability.
The SEVP and Chief Revenue Officer at Fujistsu, argues that, “The concept of Sustainability Transformation covers not only short-term goals, but also initiatives for the future. Large enterprises have a particular responsibility to promote all areas of Sustainable Transformation”
Read more at fujitsu-uvance.ft.com