It is a time of contradictions. Rapid innovations have addressed pressing problems with better health, education, travel, communication and space exploration.
Several macro forces around food, population, water and climate change are altering our world. Extreme weather events across the globe will have consequences that extend across food production, infrastructure design and maintenance, energy use, insurance and changes to supply chains.
In this time of rapid transformation, your business needs to consider this:
- Escalating climate change – IPCC report
- A rapid decline in biodiversity – UN report
- Alignment to SDGs as a necessity for corporate India
- Action on data aggregation by companies – In Europe, GDPR already exists. Indian laws will soon follow
- Strategic move towards ESG for all companies
- IFC guidelines on impact investing
- Need for Responsible AI – EU guidelines
- Increasing regulations around the management of waste, water and pollution for manufacturing firms
The lens of sustainability and responsibility highlights that Environmental, Social and Governance issues termed as ESG by investors, need to be put on an equal footing with the financial achievements of a company.