Back in 1700 the acute scarcity of timber in Saxony (Present day Germany) is what led to ‘Carl Von Carlowitz’ speaking about the need for mindfulness and responsibility with respect to deforestation. The basic thought that we should not cut down more trees than required, that will grow again to replace them – is what the basic principle of sustainability is all about.
But with the industrial revolution happening and globalization having begun in the 18th century, sustainability and concern for the future generations have always been in question. In the 21st century sustainability is seen as a global concept which embodies environmental, economic and social considerations.
European countries are the world leaders when it comes to sustainability led by Denmark at the front followed by others in the European Union. Countries like the USA, Australia and UK come pretty much lower down the order despite their political and economic prowess. On the other hand Asian countries like India and China which are the powerhouse of global economic growth and industrialization have been a bit lethargic about the need for more responsible measures in order to reduce the devastating effects on the ecosystem and the environment.
The significance to be more self-sufficient and sustainable is increasing day by day and with the United Nations’ sustainable development goals in place, various countries are taking every step possible to achieve these goals within 2030. As a global citizen it is our basic responsibility to know what ‘Sustainability’ is all about.
– Why do countries across the globe invest millions just to reduce the impact on the environment?
As an Indian, being brought up in Asia I see the education system hardly incorporates programs and courses encompassing sustainability and social responsibility.
Surging population, economic boom, increased motorized vehicles, manufacturing industries are all the result of industrialization and globalization. Cities like Beijing, Delhi and Bangalore now face the threat of pollution and reduced air quality index over the past few years. Governments in India and China have invested large sums of money to develop the health facilities and livelihood of a humongous part of their population.
This involves improved employment and increased job opportunities which can only be brought about by building new manufacturing and IT hubs. This development always comes at a cost and in order to reduce the cost, governments fall prey to inefficient production processes which often have an after effect on the environment and the ecosystem.
Traditionally developed economies look towards developing countries like India, China and Malaysia to source out cheap labor. Large corporations especially focused on products and services segments have their initial phases of their supply-chain based in the developing countries so that they can capitalize cost effective material and labor. But as individual citizens there is very little that we could do to bring out the change in the system and the processes that have been strongly established over the years.
Although I strongly believe in the next 10 years these major trends are up for disruption.
– Major trends in the domain of sustainable business design and development in the Asian markets.
Companies in India have taken keen interest to use circular economy models to run their businesses. Companies like ‘Infosys’, ‘Tata Group’, ‘Mahindra Group’ and ‘ITC’ – top the list when it comes to corporate social responsibility initiatives and sustainable business practices.
Companies in India have taken keen interest to use circular economy models to run their businesses. Companies like ‘Infosys’, ‘Tata Group’, ‘Mahindra Group’ and ‘ITC’ – top the list when it comes to corporate social responsibility initiatives and sustainable business practices.
Having been established for decades, it is easy for such big names to incorporate such initiatives into their system compared to the start-ups who struggle just to get their business running. But there are budding companies in the fields of waste management, tourism and FMCG whose main product or service revolves around sustainability.
‘CHUK’ is a company based in Uttar Pradesh, India which manufactures non-toxic 100% compostable tableware products. Their aim is to make the planet greener by replacing single used plastic tableware with bagasse made biodegradable tableware.
On similar lines is a company named ‘Peepa-Products Ltd’ based out of Tamil Nadu; India which deals with the manufacturing of sustainable stationery and providing circular economy solutions to brands. They also employ rural women and organic farmers at different stages of the supply chain, big or small they just believe in making a difference. Igloo-Pupa is a travel and leisure company which is based on the concept of sustainable tourism.’
One company named ‘Changzhou Weile Printing & Dyeing’ Company, based in China which supplies textiles to 40 countries has invested in water stewardship to reduce the impact on the environment by using water in a way that is socially equitable, environmentally sustainable and economically beneficial.
But we Asians as customers are very reluctant to pay more for greener products. So, the question here is about the profitability of these products and the future of these companies.
– How long can they sustain in the market? Can they at least break-even?
As developing countries, it is really not practical to invest loads towards the environment as the governments have pressing challenges ranging from poverty, rural-electrification, safe drinking water and education for the poor to name a few.
This is the primary reason for the slower sustainable development policies, regulations and practices in the developing economies with respect to the developed ones.
Development of infrastructure, health facilities, creating jobs and educational facilities for the poor is the need of the hour.
What excites me about sustainability is its potential to redefine business design – development, governance, policy, regulations and numerous socio-economic elements around us.
I believe sustainability is the key to the next billion dollars idea, which will affect people and our planet positively.
