The Holy Grail of sustainability?
Businesses are now entering a new era where transparency, accountability and a systemic view of their impacts are becoming the new norm.
Everyone wants to be sustainable and responsible. While some pledge to reduce their negative externalities, others boast that they are not the worst. Unfortunately, sustainability has sometimes even become a propaganda tool used to absolve companies of responsibility for their harmful footprint on society. Some companies use sustainability reports as a cover to ignore the real challenges of the necessary transition. The lack of transparency and accountability can be glaring.
Today, the planet can no longer be considered a resource, but in some ways should be considered a living being. This distinction is critical in a world that consumes 1.75 times its ability to regenerate each year. (Source: www.overshootday.org/ - Earth Overshoot Day marks the date when humanity's demand for ecological resources and services in a given year exceeds what the Earth can regenerate in that year. In 2021, it fell on July 29).
The big challenge for businesses now will be to help restore the health of our planet, regenerate its ecosystems and promote equity. That's why some people see regenerative business as the next Holy Grail in the sustainability journey.
Regenerative business models seek to provide a systemic approach to our society's challenges with a global vision of their impact. They serve the individual and the planet. Companies that embrace this approach seek to solve a social and environmental challenge in order to leave a positive legacy for future generations. They understand their role as part of ecosystems and seek to provide more to the environment than they take away. In doing so, they rely on four fundamental elements: the planet, people, places, and partners.
At stratESGy we believe that any ESG strategy should at least consider this trend, at best implement regenerative schemes in its business model, and incorporate the principle of regeneration in its R&D activities. This would be part of our integration module: www.stratesgy.com/integration