Lisbon, 14 October 2019: The World Business Council for Sustainable Development (WBCSD) today launched Staying competitive in a fast-changing world - Practical steps for future-proofing your business. This checklist provides practical steps for future-proofing your business that can be adapted depending on where your company is with sustainability.
Globally, the political landscape is shifting and becoming more unpredictable; technology is changing everything we do; environmental pressures are reaching alarming levels and tensions in society are rising in many parts of the world.
In this context, the purpose of the economy and the purpose of a company, is being challenged. Focusing solely on profit maximization is no longer acceptable.
Unfortunately, decision-making and disclosure practices have not caught up and often overlook crucial risks, opportunities and value drivers related to environmental, social and governance (ESG) issues and across natural, social and human capital.
As a result, boards sometimes miss material information that’s essential for defining a robust and resilient corporate strategy.
This has to change.
Climate-change; nature-loss and inequality are major challenges for which business will be expected to develop solutions.
This checklist can help your company manage these and other emerging issues in a comprehensive, strategic and proactive way. Read through the steps, then select and adapt the actions that are most appropriate for your company now, and those to plan for in the future.