December 20, 2021
12min0
Corporate sustainability moves from the sidelines to centre stage; Big businesses embracing a triple bottom line see positive business returns; Growing commitment by corporates to helping achieve the UN Sustainable Development Goals (SDGs); Increasing scrutiny – how are companies measuring up?_ What are big businesses doing to build a better future? More than you may realise. Although there has been widespread concern that environmental issues and global inequality would be placed on the back burner as a result of COVID-19, it appears many corporates have shifted sustainability from the sidelines to the centre stage. Corporate sustainability in practice was under the microscope at a special Expo 2020 Dubai edition of the _Canon Frontiers of Innovation _thought-leadership series, featuring Unilever’s Head of Corporate Affairs & Sustainability, Priya Sarma Muthur (https://bit.ly/3IWZgWY) and Canon EMEA’s Sustainability & Government Affairs Director, Peter Bragg (https://bit.ly/3muY2sL). At Unilever, a ‘Sustainable Living Plan’ places sustainability at the heart of business strategy and operations. “More than 2.5 billion people use Unilever products each day,” explains Muthur. “We made a strategic decision to use our scale to help consumers and the planet.” According to Bragg, the philosophy of ‘Kyosei’, a Japanese word meaning ‘living and working together for the common good’, has been central to Canon’s operations for over thirty years. “Whilst the principles are nothing new, there is a growing sense of urgency to drive the sustainability agenda, from product development and manufacture to service.” Ethical equals resilient The World Economic Forum’s 2020 Global Risk Report (https://bit.ly/3oZQpff) highlights that the world’s top five risks are environmental – extreme weather events, natural disasters, climate change, human damage to the environment and major biodiversity loss. To make a real impact, corporate sustainability has to look beyond the core business. “These risks impact our people, customers and suppliers,” says Bragg. It’s not enough to drive change only for ourselves, we have to drive it across our entire operation. Ethical supply chains are proven to be more resilient.” Muthur strongly agrees, “We are working to specifically prevent risk across the supply chain at scale. For example, climate change is a concern for tea production, and we are one of the largest buyers of tea in the world.” From a linear to a circular economy Companies are seeking viable ways to shift from a throwaway to a circular economy. Canon pioneered recycling printer cartridges more than 30 years ago; today every product is designed to be efficient and remain in use for as long as possible, through remanufacturing, refurbishing and recycling. Unilever has committed to be net-zero by 2039 with an ambitious Clean Future Strategy and a billion-euro reforestation programme. “We are innovating design so that 100% of packaging is recyclable, renewable or compostable by 2025,” explains Muthur. “Already in the MENA region, 70% of our packaging is ‘recycle ready’, meaning it can be recycled if the infrastructure exists.” […]