Geneva/London, 19 October 2021: Today, the World Business Council for Sustainable Development (WBCSD) released “Future-Proof Business: Running companies well, well into the future”, a new guide outlining how businesses can evolve to meet critical challenges in climate change, nature loss, and mounting inequality and deliver true value across social, environmental and economic dimensions.
Developed with input and expertise from 11 leading businesses, the guide provides a blueprint for companies to take the lead in the transformation from “capitalism as usual” to bring about the reinvention needed in order for 9+ billion people to live well, within planetary boundaries, by 2050. Future-Proof Business will help companies to thrive in a world increasingly focused on recognizing and operating within resource limits, with fast moving environmental and social concerns, and a growing population.
It is in the interests of business leaders to navigate this future with sustainability at the heart of their approach, focusing upon delivering products and services that anticipate and meet society’s needs, within planetary boundaries. To support this, the guide identifies the characteristics that will underpin sustainable transition, focused around the three fundamental areas of Purpose, Strategy & Governance; Systems of Management; and Performance.
“Anticipating and responding to the climate, nature and inequality crises of today, and the complex sustainability trends of the future is the biggest challenge that businesses face. To succeed and thrive over the long-term companies need to Future-Proof - to evolve their purpose and practice to be responsible for their impacts and responsive to a finite and fast changing world.” said Joss Tantram, Director of Redefining Value, WBCSD.
The guide addresses this need by outlining steps that businesses can take to become a “Future-Proof Business”. It provides an overview of the characteristics of the three fundamentals, a maturity matrix for companies to assess themselves against key criteria, and a series of resources and guidance for the development of sustainable companies.
“Future-Proof Business: Running companies well, well into the future” is part of WBCSD’s Redefining Value program, which helps companies to measure and manage risk, gain competitive advantage and seize new opportunities by understanding environmental, social and governance (ESG) information.
The full guidance can be accessed here.