The business environment is changing dramatically. Climate change and poverty have become market shapers that will not disappear with economic hard times. Adaption and innovation is the successful business response to such changes, so how far can corporate sustainability become a feature of innovation within business?
A new paper "A new mindset for corporate sustainability" produced by six academics from across the world, and sponsored by BT and Cisco, explores how innovation can act as a crucial driver for business sustainability and success. It gives a good, accessible overview to a number of trends that are driving business change and, particularly helpfully, provides a number of case studies that - whilst including some of the 'usual suspects' includes more examples across the world.
The group start by considering what are the key drivers of innovation in companies' approach to sustainability. They identify three:
* Boardroom commitment to sustainability helps build a framework for robust corporate governance.
* Investors are becoming increasingly receptive to sustainability.
* Sustainability offers a proven and legitimate framework for exploiting new avenues for innovation.
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