Corporate sustainability – the idea that profits can and should go hand in hand with social and environmental responsibility – has been around for a long time. Now, though, it has reached a tipping point. Nearly 70 per cent of chief executives of mid-sized to large companies believe that sustainability is vital to their profitability, and more than two-thirds say it will remain a high priority, according to recent global surveys by PwC of its clients.
Many companies are already practising sustainable business with success. General Electric has doubled its investment in clean technology, recognising that addressing climate change can be great business. Unilever is training developing-world villagers to market and sell single-use sachets of soap, creating profits, economic growth and public health benefits. And Toyota has hit the jackpot with its electric hybrid, the Prius.
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