In Uruguay It can be seen that more and more companies are turning to developing sustainable programs, that is, those that not only have the objective of generating economic profit, but are committed to being part of the solution to the climate crisisaddressing themes environmentalbut also social, policies and cultural.
That is why ambito.com spoke with Caroline Ferreirateacher of the UCU Business School, about the current situation of companies, their relationship with the environment and if it is possible to have a sustainable and responsible project with the environment and, at the same time, obtain profits.
According to the specialist, when thinking about the added value of companies, they thought of a more economical profile. However, more and more the concept of sustainability has to do with what companies call triple Impact, where the economic, social and environmental areas where the company has an impact are taken into account.
The danger of greenwashing and the first steps towards sustainability
Currently there is a trend called greenwashing where companies direct their marketing campaigns towards a position committed to the environment while their actions go completely in the opposite direction. Faced with this, Ferreira explained that there are still companies that use this strategy to achieve a better image, although they are seen less and less.
To achieve the goal of sustainability, or at least take the first step, the professor explained that “in environmental terms, there are regulations that have been improving over time.” Ferreira refers, first of all, to the Brundtland Report, published in 1987, which contrasted economic development with environmentaland that companies began to use more and more.
Another tool is ESG regulations (for its acronym in English: Environmental, social and governance) which are a series of indicators that allow determining to what extent a corporation works on behalf of social objectives, which go beyond economic benefits.
“On the other hand, there is an impulse linked to the Sustainable Development Goals (SDGs) where more and more companies are beginning to be part of the solution”, explained Ferreira. The SDGs are 17 global goals interconnected that has the objective of being a plan to achieve a better and more sustainable future. They were established in the United Nations General Assembly in 2015 and are intended to be achieved in 2030.
In this sense, the UCU Business professor explained that the private sector is needed to finance the agenda of objectives for 2030 and that there are more and more public-private partnerships where the role of companies begins to be recognized.
Is it possible to generate profits being sustainable?
According to Ferreira, it is totally possible generate the same earnings and be committed to the environment. “There is a profound change in the new generations,” explained the teacher who also relates it to the care of resources, which are finite and must be managed responsibly. “We must be clear that this linear approach is no longer pay attention to circularity and resource management”, he remarked.
“It is also linked to social issues. More and more employees of the new generations are linked to the company mission and proposition and what gives it meaning”, specified Ferreira. Finally, he added that the objectives of companies that are committed and have a triple impact are giving new meaning and changing over time, as the world changes and the cultural changes guide companies to assume more and more commitments They don’t just have to do with economics.
Source: Ambito
