Embrace the Business Advantages of Sustainability and Resilience
Early indicators suggest that these two topics will be at the forefront of the Department of Transportation under President Biden, but they could also be key to making companies more profitable.
April 21, 2021
The 3Ps of sustainability are a well-known and often referred to as the triple bottom line.
Sustainability has been an often-mentioned goal of companies yet measuring the business advantages of sustainability while maintaining a profit and growth can be difficult. To truly embrace sustainability, a mindset shift needs to happen.
Sustainability is much more than “going green”. It is an all-encompassing approach to a framework called the triple bottom line, which is a venn diagram where three key factors, people, planet and profit, come together and where they intersect, is sustainability.
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In our last column, we reviewed extant research that indicated no sustainable progress in labor conditions in global supply chains, particularly with regard to freedom of association, wages and other standards. So what explains the lack of progress? There are several horses in the race.
The first horse is “Wrong Solution.” Private regulation that allows brands to police their own labor practices is the wrong solution. It avoids or crowds out national regulation, as wells as organized workers and bargaining. The best solution gets national governments to write and act out good labor laws.
The second horse is “Not Trying Hard Enough.” Companies are not serious about private regulation. Many adopt policies but do not implement them; in academic circles we call this ‘symbolic adoption’ or ‘policy-practice decoupling.’
The island nation saw apparel exports of $5.3 billion in 2019, solidifying its reputation for compliance, high labor standards, ethical integrity and speed of delivery.
Apparel accounts for more than 40 percent of total exports, with the European Union and U.S the major markets. It also makes up 7 percent of the country’s gross domestic product (GDP), giving employment to more than 15 percent of the country’s workforce of 400,000.
Tuli Cooray, founder and secretary general of the Joint Apparel Association Forum (JAAF) for the last 17 years, talked with Sourcing Journal about some of the blind corners that the industry rounded as a result of Covid-19, as well as the effects of the dramatic directions the industry has taken in the past 10 years.
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This viewpoint was created byWilly Legrand, Professor of Hospitality Management at the IU International University of Applied Sciences, Germany
Responsible travel: How do we make booking sustainable hotels easier?
Evidence shows that spending time in nature helps reducing anxiety, improving mental health and well-being, let alone boosting physical health. Nature is good for us; can we be good to nature too? It s no wonder that one recent large-scale survey conducted by Booking.com (2020) identified
Impact Awakening: The Rise of Responsible Travel as one of the nine predictions on the future of travel. Half of the global travelers surveyed expressed the desire to travel more sustainably in the future with over two-thirds of respondents expecting more sustainable travel options from suppliers. Demand is (and expectations are) building up and post-pandemic will see a surge in travel with purpose. But do travelers easily have access to all information needed t