BETTER BUSINESS BETTER WORLD

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the oil and gas industry are now developing a collective action plan to reduce fugitive methane emissions and make progress on carbon capture, use and storage. The most far-sighted are publicly exploring scenarios envisaging peak oil demand within the next 5-15 years and peak coal demand before 2020. But many of the incumbents have yet to reinvent a profitable future for themselves in a zero-carbon world. Without more radical purposeful change, more traditional energy companies could become casualties of the transition to a world in which sustainable development is as central to every business as digital technology is today. They may not be the only ones. Consider the food value chain. If 10 years from now the public health costs of obesity are still spiralling and the food industry has failed to lead on solutions, could it absorb the drastic measures that governments might take, such as strictly enforced sugar taxes? Or stringent penalties for wasting food, should the world experience more food price spikes like those of 2011? 3.7 Shaping public policy Business’ cooperation with governments on policies directed at the Global Goals will be critical to achieving them. Policies determining how to factor environmental and social costs into the prices that companies and customers pay will shape competition in expanding sustainable markets. So will public/private collaboration to accelerate innovation. Advancing policy on pricing externalities. All companies make decisions based on the economic signals surrounding them, such as the price of labour and materials and the cost of taxes, as do consumers. As noted in Section 2.4, today’s prices don’t tell companies or consumers the truth about environmental or social externalities. Until they are priced in, even businesses that want to be part of the solution are condemned to be part of the problem – stuck on the same, skewed playing field as everyone else. 62
EXHIBIT 12: Negative profit margins in most of the world's raw material industries if natural capital costs are included Profit margin (EBIT) before and after natural capital costs, based on top-two companies in Morgan Stanley Composite Index category, Percent, 2012 Before 15 15 9 11 9 11 3 3 5 5 After 9 11 3 -1 -1 -8 -6 -11 -78 -165 Cattle farming Wheat farming Cement Synthetic fertilizer Paper-board Silver mining Bauxite mining Iron & steel Non-ferrous metals smelting Coal power generation Source: Adapted Iron: Taxcost and TEEB (2013) 63
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BETTER BUSINESS BETTER WORLD The re
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THE BUSINESS AND SUSTAINABLE DEVELO
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Photo credit: MD. Zakirul Mazed 3
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3.5 Incorporating the Global Goals
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economic system. But we cannot defe
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© lindrik / Adobe Stock 9
Page 13 and 14: towards achieving the Global Goals
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Page 17 and 18: Leading for sustainable development
Page 19 and 20: Rebuilding the social contract requ
Page 21 and 22: 1. INTRODUCTION: THE GLOBAL GOALS A
Page 23 and 24: 2050, up from around US$2 trillion,
Page 25 and 26: However, progress needs to go much,
Page 27 and 28: scaling challengers to fossil fuel
Page 29 and 30: Economic gains from achieving all t
Page 31 and 32: Though this big group of opportunit
Page 33 and 34: • Forest ecosystem services (US$1
Page 35 and 36: investment in solar PV has already
Page 37 and 38: while access to affordable energy w
Page 39 and 40: EXHIBIT 6: Pricing externalities in
Page 41 and 42: EXHIBIT 7: More than half the value
Page 43 and 44: EXHIBIT 8: Almost 380 million jobs
Page 45 and 46: 3.1 Sustainability is already good
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Page 49 and 50: The majority of businesses successf
Page 51 and 52: EXHIBIT 11: Number and valuation of
Page 53 and 54: 3.3 Transforming the way business o
Page 55 and 56: Box 2: Ericsson executives champion
Page 57 and 58: the company and through its supply
Page 59 and 60: Many sectors are agreeing “pre-co
Page 61 and 62: etter while also solving societal p
Page 63: use of micro-irrigation techniques;
Page 67 and 68: such as mandatory carbon pricing. A
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Page 71 and 72: year. 163 Nearly US$100 trillion is
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Page 75 and 76: strategic alignment with the Global
Page 77 and 78: amounts of private capital. Specifi
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Page 81 and 82: 4.3 Aligning regulation with invest
Page 83 and 84: governments making the repayments a
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Page 87 and 88: percent, or 200 million people worl
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Page 91 and 92: any other (see Section 2.3). Yet 26
Page 93 and 94: electorates are angry and fearful.
Page 95 and 96: Unilever promotes health and well-b
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Page 99 and 100: 6. CONCLUSION This report has prese
Page 101 and 102: through putting less tax on labour
Page 103 and 104: such catalytic ideas, which could c
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Page 107 and 108: 18 United Nations World Commission
Page 109 and 110: 57 International Energy Agency (IEA
Page 111 and 112: 95 Data-Pop Alliance, 2015. Reflect
Page 113 and 114: 139 World Cocao Foundation, 2014. C
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184 IFC, 2009. In a Historic Step,
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227 UN Women, 2016. UN Women Annual
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Lagos Deep Offshore Logistics Base
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Business and Sustainable Developmen
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