Sustainability: The train has left the station

Abstract

ABSTRACTThe sustainability movement has more influence over company and government climate change actions than any treaty, law or regulation could possibly have, and results in quicker, measurable actions.The sustainability movement is alive and well, and will continue to grow despite the outcry over some countries backpedaling from the Paris Accord. When one stops to consider just how much action companies from around the world have taken toward sustainability one cannot help but be amazed that so much was done without treaties, laws and regulations to force compliance. The primary driver of action is peer pressure—that which is derived from the actions of industry, and not the actions of government. This movement, found under a company’s corporate social responsibility (CSR) banner, will continue to grow by virtue of the continuous adoption of sustainability reporting, and in particular, supply chain reporting, benchmarking and risk management practices of industry, and the adoption of energy efficient (EE) projects. These actions have already resulted in significant positive changes to private company and government behavior, company value, lower emissions, greater operational efficiency, and competitive advantage. One could argue that peer pressure is much more effective than any treaty, laws, or regulations could possibly be. But, it should be noted that the term “climate change” remains a contentious issue and companies would be wise to refer to all related actions as sustainability.