1A Sustainability and areenoix | Economics: An Overview! aera gS affected by the world population or poverty or clima resilience? A quick ime for bane GPE and Eondione crete opponents ee nee ee markets for business finished products, The faci that theo several other eritieal impli cations for all businesses—big and small! Let’ see hen 20 ONT Been world population roughly ae hereof 1% per annum according vo Joa an reas SPOR stands at 7.8 blon inhabit fa S08, oe SON Slaton Rese son ceach 9 billion by 2037 and farther to 10 bilion oy S0tG Ca ulation Review 2020), Macro trends like these int e boosting economic growth by providing mo up new markets too. It is also established all strata of any growing population more production aad a However, an unbridled economic growth driver ry, and an , fauna, land, air, and water. also complex in their structure and may seem like a (burely for governments’ concern. In reality, they have important elfece on virtually every entity in our societies—be it individuals, s, and formal businesses. Do sre egghvronmencal activists who are not only canvassing for a “plastic-ree wach ho ako taking direct action with passion?* Such groups (and innumerows sieve ones) are Sewing ip numbers and impact on society a large and business in particular where tho hae Athy the mae ued 80 adope plastic-Free processes and products. This is precisely the reason, why the new edition devotes few pages to direct and indirect implications ot considering ination, nets Of business. Visionary business leaders from all kinds and sizes of near planning and Ctated incorporating sustainability aspects into their long-term (etratecio) Planning and subsequently, this is now affecting their business practices We briefly depict ‘he adoption of selected sustainability concepts by organizations in Appendic 1 b Ina nutshell, “if meeting needs of existing generation must go band-he bon! wigh ensuring Grough resources for future generations”, stands as the most standard essence of sustain and sustainable development (SD) then, business strategies and decisions mar cha See mesneenan acetal _pbrenalc conten contributed by Mudras Shubhechchha Ramchandra, BETS Pilani 2018A7PS01S6P 2 flssd/wwrnn.or/development/desa/jpad/wp-conten/uploads/stce/49/WESP2000, {Gate/Aeweforum orgfagends/2020/07/clmate-changesincressed-carhon-doatlecmiotene oie al jock thes: hetps//riendsoftheeih.ul/ from UK, hitps//awepanitrecjulyorg hom Acoli eels Poplar campaign naps//wwgreenmattrs compas ree ulyTER 1 | INTRODUCTION, BASIC PRINCIPLES, AND MerHopoLocy of §Ps of sustainability Line’) in 1994.* Figure ALT gives for businesses in brief, Globall role in inspiring the world tow Janeiro, Brazil where ction to build a global partnership for sustainable de a path-changer. L Agenda for Sustainable Development aimed now and into the future. At the core of the 20 Goals (SDGs), which pose as an urgent ¢; ands a sustainable the environs Ik is critical to note forall students and pr of sustainability is no more an option, rather it i {just lke profits). A manager, for example, will depend on two things, rst, the quality markets available for finished products for and availability of our people and profit and a healthy economy recent times is the toll economy This quote from the UN ‘The 3Ps refer to People, Planet, and Profits, a sim erful concept given by John Elkington, who coined a brief snapshot of what each of these three the United Nations (UN) has pl: more than 178 countries adopted Agenda 2 clopmient to improve buman lives an Later, in 2015 all UN, at peace and prosperity for people and th 130 Agenda is the 17 Sustainable Devel all for action by oping—in a global partnership for SD in a compreh acti is a minimum criti must decode with elari and quantity of resouret businesses. These in tur planet. Only if people and the pl be ensured otherwise, high risk on a worldwide basis businesses being no and business had to take due ’s website shows the mammoth natu The COVID-19 pandemic is this term (also called * layed a very significant th Summit in R planet. Its 1992 1, a comprebensce plan g Member States adopted t all countries—developed an sive way. ners of man: ment that taking carg ical needed for survival ty how the future profits es oF inputs; second, the sn. depend on the stably lanet exit in balan, virtually everyone remains e exceptions” A powerful example from, to the Covid-19 re of the pandemi ple yet poy. tiple Bottom, Ps can mean” Rio de protec the 2039 © planes, lopmen cd devel. ce Would, “xposed to Pandemic,* amore than a bealthersis;it sam economic evsis,a bumani 4 security criss, and a human rights crisis? In fat sustainable business practices have become central to legal systems across coun. ‘ies, such that concems about them have led to a number of new laws, regulations, and climate policies ‘compared a number of pro-envir ic’ impact tarion criss, fi . Higher emphasis tivities have compelled firms to deal wi important stakeholders like politicia I markets, large Tn fat, the jin is playing an acive role in handling cee climate change litt see as whee plains and defendants include corporate governments, individual, and NGOs!" Consequently, companies are increasingly taking to bvo broad sete of measures fr etter processes for resource conservation and rien fee ene and the public at ir environmental performan and profits can co-exist.!2 spe alia "Elkington J. (199 Tia the ssi corporation: evelopment. California cm 0,90 10 Management Review, is in sini Metal is article on‘CO2 emissions’ ef fects on | * ree N ren otek Word Jin Wie See i claeante Law 2018) & Semen fo Bangalore, M. 2017). Regulating 5 Trumpy view 49G), 347-34 “o™PERSAON policy surement tears » Zopf, C., & ‘Guenther, E. (2015). ereA APPENDIX 1A | SUSTAINABILITY AND ECONOMICS: Atl OVERV yeUIErsNS Jo sreINA ABUL LLY auND Ly 3 souseyd agppsioas aded “wio}2 sypusiew BuBeyoed eyqopnsBop 'p vowonpan aise BuBeyoed ‘am Apusuj yawuosiAve ox Yeu seoqoeid vordunsuoo axqeUrEIsNS, suojssue Bueueus Aanize hq uoNnquIs ‘punors srnsoa Bupa oo pve SLES jwioa Aq paseo yore 10300 Durdoey e0uere9 OM HOR pus oy Aayenb ponoidu 10} sp20u 9f0}dwe 01 Aunsu2s UO ynoge ssoueren ‘Se0uns01 yeanyeu Jo Asn \uarDIe 10} srouyed ujeyo Aiddns un Kem angesoqetoo ‘uj Bupuom fq wieyo Adds Buea “spunoifyoeq quia pue sepueb uo paseg Ajje}aads fed yueys|su00 -p siyBy uewny ‘Ayunyoddo yenb3 ‘sreyi0% jeniaesiu09 ue saafodw jo “ous jo seeunes e\gamouss Jo @sn pus aisem y SUOISSWE NNUIEY 9 0uPpioNe‘uoReALesuOD eounoses Jo seaqoe1d uoKonpoid eIqeUIEIsAS eo pue ssaulsng sore 00) uoquea BuSnpoy sepjod edoed-ond 2p reqewuosnve-o1d ¢ Avedwoo @ yl 7208 youd Buusiye 40) Barens ssaussng e se uordope wveweBeuew 9s ‘seayoeid esuisng 1 pue 9 @ squowunbs ‘suoyepuno) ‘Auqeueisns, ssuotupuoo snoge| ue Aieyes “yieeH easy} Crecente} ‘see fojduro 40} soqunyoddo wauidojonep pue Buluee ‘ABojouy23 uoneatuNuwiCD pure uoNeUUNO}U Bush ‘inj zeproyare4s fejo1 pue yno36 ‘quIOUdde oIqeIs @ 1UOISISUOD ‘sauop Jo Ausedeo au Bu suonnans *A610U9 oyqemouss ue fep0s yueyodus yB24 ‘Aulenod soBuny ‘ooueuNe P Ul spaauysabusyreys (ewuou jreduu} pur arqsuodsay ‘aiqeureisng1B Sustainabilj ; APPENDIX What's Found missions into, BY and resources, if to renewabl xluced resources, waste avoidance les and recycling’ » Switching le energies Benefits CD Ser errr and accessories; ees Seeman performance ‘nology through innovation. ee ane designed with the end'in mos Polyester from plastic bots, ‘consumer garments stainable cotton wh Pre-consumer textile scraps, and Post ‘Mudros Shubhechehha Ramchandra, BITS Pilani 201847PS0156p), Production-defined so “sinable%20Consumption pdf usiness/2016jan/02/pi iotle-ikea-nike-toyora whey lion-dolla-companiessustsinai le-foods :LE Benefits/outcomes \Aimetical constraints Arenefits/outcomes Practical constraints = APPENDIX 18 —_SVRENDIX 18 | SUSTAINABILITY CONCEPTS: WHAT'S FOUND I REAL WontD ‘Az Hindustan Unilever Limited: Location: BM beverages, and packaged food) Market: Ind Coos Pcie Munn cases Key objectives ~~" related to SC Scab Listed among the iverted more than 7 bill bottles fe 2. Sustainability norms not fol ements To keep up with the desire daa eae “I quality ofthe product, some aspects of sustainability become ula: Industry-FMCG, Produets-household and personal care products, a yas eR eae Soa eT Pee 1. Sustainable sours } 7 sana sourcing for reducing tsk and ‘volatility in the raw material supply chains 3. Sustainable produc design through novation 4}; 100% clecrictyrequiremens are met from renewable sourees of energy z ion in greenhouse gas emissions from refigeration and transport 4. 5. y operations Reduction in freshwater abstraction by manufacturing sites ets Sourcing of fruits and vegetables, paper and board, palm oil, tea, etc. - Reduction in waste through recyclable, reusable, or compostable packaging and status of ero non-hazardous waste to landfill’ Introduction of sustainable products like dry shampoos and water-smart products for redu wsorg and onpuatl inion ivincioesin |. The share of renewable energy at the sites increased to 71% in 2019 CO, emission reduced by 85% in 2019 as compared to 2008 ‘Status of ‘zero non-hazardous waste to landfills’ for all HUL factories ‘Water usage reduced by 58% and waste production reduced by 63% ‘Though production in factories follow sustainability norms, the same is not assured from the 2. Several customers not yet aware of the newly designed sustainable products Pe ee oa eee ut Definition Goals Kz “Benefits + hupsf/wwohl.co n/Images/anileversutainable-livingplan- en.pf hheps/economictimes.indiatimes.con/industry/cons-products/fmeg/nilever-rans-sustsnable-busines-but yer to-make-impact 551089. Oslo rou hyp Sustainable consumption is defined as “the use of goods and services that respond to basic needs and bring a better quality of life, while minimizing the use of natural resources, toxic materials and emissions of waste and pollutants over the life cycle, so as not to jeopardize the needs of future generations”.* ‘The environmentally friendly consumption strategy pursues several interdependent individual goals like 1. Promoting consumption that has minimal impact on the environment, is socially equitable and economically viable 2). Bfcient use of resources for minimum waste at consumers’ end 3, Switching to renewable and regenerative energy sources in consumption processes like so 4, Creating innovative ways and supportive eco-systems for material reeycling and reuse 5. Bringing about sustainable lifestyles which are closely connected to nature and have fewer carbon footprints Al this offers a wide range of opportunities and advantages for society as consumer choice encourages corporations to design and produce green, eco-friendly and materal-saving, and socially equitable products ghd models of consumption. This also serves asa basis of competitive advantages over the markerplace and making the need-fulfilling process itself sustainable ar and wind power Jnul-sumumary-of-progress-2019_tem!255~ s/artileshow/19686821.cms?from=mdr 994), Retrieved September 15%, 2020 from, waste-and-greenhouse-gos ible on sustainable production and consumption. I | ca/eonsume/oslo000-haee repeat ts a Le Te SSE eka ance cake otha Company's stakeholders: Households, Plastic Polymer Industries, communltie waste managementifirms, Sa eu ives 1. To build a world where finite resources are infinitely reused ‘Sone 2. Tomake household waste renewable source cutalze the carbon footprint of conventional polymers ee through waste diversion, conversion, and resource efieney 1 UBQS revolutionary process makes new, the raw material out ofall Residual Municipal Solid Vaste (RMSW) destined for landfills : 2 Hayne eects welt ale reduce their carbon footprint by providing highly pli- climate-positive raw material for consumption : 3. Dedees reat cconomy assessment framework, to measure elements of the business against is effecirenes fo be restorative and regenerative by design to deliver busines value ‘4 Development ofa series of innovative products like ‘recycling bins made with a novel bio-based composite materi obtained from residual munieipal and household solid wast, preventing them from reaching the landfills ; ‘ Benefits/outcomes 1. Quantis, a leading provider of environmental impact assessments, qualified UBQ Material as the ‘most climate positive material in the market Fe For every ton of UBQTM Material used, up to 15tons of CO, is saved by UBQ techniques 3. UBQ won the prestigious award for the “Best Use of Alternative Feedstocks” by Bio Market Insights Innovation Awards 2019 and several other awards* : Practical constraints 1. Challenges faced in ‘completing sales traction in the market due to its novelty in the solution pacer CNL Te EE eer Poe beeches ene Ee a eee pic PSO eI STS aS Se rarer ae r etd Toe AER eT EMReM Renn cce Beso aeecset eae Er sr Key objectives 1. Solutions to provide sustainable ‘consumption of water and energy related to SC 2. Minimizing waste 3. Protecting the environment and improving health Sustainability 1. Production of water-saving tap, shower filters, aerators, water-saving lush tanks for domestic use to operations reduce water usage for sustainable consumption 3. Provision of water-fee public urinals through Government initiatives 3. Making E0365 compostable garbage bags from cornea and other compostable material Benefits/ 1+ Feo 365 products have testified for a lesser ecological Footprint. use lesser water and energy in produce outcomes tion than paper and plastic 2 Seed oe 300 crore liters of water across more than 4,000 Projects ined oe eainedl the tust of consumers and media alike antl being adopted in ers $ Acauited over 2000 clients due to its excellence ny water efficeney nn ange numbers! forking with Goveenmene projects of few states te India _ Practical > The water-sving devices may not constraints 2 be useful forall applications, especially for prec led water d Sic ie devs el se re-installed water devices Sines god poder important task with water devies, ales noid but willing consumer may miss 3 Since many states stil have not been able to curtain si a unfavorable situations (oe CCL dings) ‘urtain single plastic use, the market size expansion faces U0 Mae new proce ‘hus bgnaeri Neat. Webi tec hitps//yourstory.com/201 ts °° https:/Atimesofin he “FICCI estimates: that 43% of In 'ps//www paconsulting.com/ources ‘Paconsulting.com/our: “PScence/uby-materal-using-landillewaste-to-create- narkets-insights-conference-award/