In 2008, when MIT Sloan Management Review and the Boston Consulting Group began their sustainability research program, it was the start of the Great Recession, and pundits were predicting the end of sustainability on the assumption that executives would turn away from corporate social responsibility initiatives in favor of “making money.”
But survey results in that first year held a surprise. Contrary to common wisdom, a large number of companies were doubling down on, rather than abandoning, their sustainability commitments.
Investing in business sustainability turned out to be a good bet. Today, more than a dozen companies, from Walmart to Toyota, have billion-dollar sustainable business lines — making money indeed.
But eight years on, these so-called “green giants” are still in the minority.
MIT SMR’s latest report, “Corporate Sustainability at a Crossroads,” shows that most businesses have yet to crack the sustainability code. And now, after our eight annual surveys of tens of thousands of managers and more than 150 thought-leader interviews, we know why: Sustainability success requires a long-term, strategic-level commitment combined with business model innovation that goes way beyond changing light bulbs or charitable giving. Many managers understandably recoil from this level of sustainability commitment.
This brings us to the crossroads, because the election of Donald Trump seems to offer businesses a way out.
Learn more (via GreenBiz) >>
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