Sustainability in an organizational context
Mazars teamed up with The Economist magazine to examine the state of sustainability in an organizational context. The assessment points out how sustainability can be measured and encouraged via regulation, the differences between countries in the adoption of sustainable practices and the main technological trends that can be integrated into the processes of organizations in this context.
Lisbon, March 15th, 2019 - A Mazars and The Economist magazine's Intelligence Unit have teamed up to examine the sustainability factor in the corporate context, its relationship with the current regulatory climate, the weight of geography and the technological trends that are influencing the demand for more sustainable processes in organizations. In the absence of a global agreement on social responsibility or sustainability, much of the impetus behind incorporating sustainability into business operations comes from the globalization of supply chains and growing pressure from investors, shareholders, non-governmental organizations and the general public.
As a result of this trend, there are significant differences in the way the US, the EU and Asia are developing structures, programs and legislation to achieve a global shift towards sustainability.
In January 2018, the European Commission presented plans to consolidate sustainability in the European financial system. It suggested the introduction of a "sustainability" rating system and measures to impose conditions on corporate reporting and the responsibilities that shareholders have to stakeholders. Many of the E.C.'s suggestions are already being put into practice. More legislation is due to be passed by 2019, aimed at compelling the financial sector to provide the 180 billion euros needed annually to meet Europe's climate change objectives.
Elsewhere, rapid economic growth has meant that China is facing some of the most severe environmental issues on the planet. While recognizing the investment cost required, China sees sustainability as an opportunity for its companies to develop innovative technologies that will allow the country to position itself at the forefront of the value export chain. By focusing on research and development, China hopes to lead the world in environmental technology.
In the US, some states are developing their own projects without the need for federal regulation. California has set ambitious clean energy targets. Other states are trying to control polluting industries, for example by promoting electric vehicles and setting limits on pollution levels. Even in states that are lagging behind in this area, there are forces at work in the market, consumers are demanding change and businesses are being forced to respond.
As the call for more transparency and accountability in the corporate context continues, companies are spending more time and making significant efforts to identify reliable data to share with their stakeholders. stakeholders. Digital solutions such as Blockchain, Data Mining, Intelligence Artificial, Internet of Things e Analysis Predictive are some of the main technological innovations that are accelerating, expanding and prioritizing sustainability in today's business world.
By implementing regulatory measures, companies have begun to realize the benefits of a sustainable approach: more effective risk management, relationships with stakeholders, cost savings, value creation and better market positioning. What is becoming clear is that by improving voluntarily implemented standards and practices, business, society and the public sector can aim for a more sustainable future. Regulation has a role to play, but it can be used to encourage and not just punish.
