The sustainability transformation has been saved
The sustainability transformation
Look ahead, look inside, and look around
Authors: Sarah Kerrigan (SG) & Duleesha Kulasooriya (SG)
Pressures toward sustainability are reaching a tipping point. How can businesses accelerate their sustainability transformation to find new opportunities and avenues for growth?
Climate change is a crisis of unprecedented magnitude that threatens to multiply a broad range of sustainability risks. Organizations are under increasing pressure to respond. Many will need to sustainably transform their business models to find new opportunities and avenues for growth for their future business.
In examining organizations that have started down this path, we have identified three basic actions that have enabled them to turn sustainability from a risk into an opportunity. First, they look ahead to understand how they can capture new growth opportunities from sustainability. Second, they look inside, within their business, to find ways to reconfigure their operations to help accelerate the transformation toward greater sustainability. Finally, they look around for opportunities to leverage their business ecosystem to help create competitive advantage in a sustainability-focused world. In this article, we explore what each of these actions entails, drawing lessons from some companies focused on sustainability.