IMD-OWPLIVE22-PostEvent-Report

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LOOK BEYOND ‘CARBON MYOPIA’: SEIZE SUSTAINABILITY AS AN OPPORTUNITY

There is still a slim window of opportunity to change the destructive trajectory of our economies. Beyond carbon offsetting, real transformations are required.

Sustainability is now a key strategic initiative for the vast majority of companies. But while many business leaders have understood the need to act on pressing social and environmental issues, very few have figured out how to do so effectively.

There is a lot of confusion among business leaders around sustainability, and a blinkered focus on reducing carbon emissions. While climate change is a key driver of environmental degradation, there are many more problems unfolding, such as biodiversity loss and water scarcity. Companies need to look beyond “carbon myopia” to tackle such issues.

This matters more than ever because businesses need to come up with imaginative solutions to meet their net- zero pledges. They are under growing pressure to reduce emissions, including those passed down the entire supply chain.

JULIA BINDER Professor of Sustainable Innovation and Business Transformation

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