In the first part of this blog, I discussed the importance of considering sustainability in our hyper connected world. But the big question is: what will it take businesses to rise up to the occasion?
The business sector has been steadily gaining importance in the development space. The prominence has also led to increased expectations. To me, this is not surprising, it’s been in the making for a long time. Consider this – in 2000, Sara Anderson and John Cavanagh found that of the 100 largest economies in the world, 51 were global corporations and only 49 were countries. According to a Skoll Foundation article, Finland’s budget was about €40 billion, 20 percent less than Nokia’s annual sales in 2007. In 2012, D. Steven White, an economic analyst listed the top 175 economic institutions using GDP for nations and revenues for corporations. Not surprisingly, 63% were corporations and 37% were nations.
Drawing on my experience in Antarctica and the long stint in the development sector, I feel it will require major rethinking on part of the corporate sector to honour the expectations and responsibilities that societies have placed on them. This new approach includes:
At Tata Communications, we are contributing to the Global Goals through a focused sustainability and CSR program. Information & Communications Technology has been recognised by the UN as a “means of implementation” for all the 17 Global Sustainable Development Goals (SDGs). Therefore, by adopting a human centred approach, we are striving to create ‘Connected Societies’ by harnessing our expertise in digital enablement and by focusing specifically in the areas of healthcare, education and employability.
I firmly believe that businesses have the potential to address the fundamental concerns of the society and improve the quality of life of the communities. Businesses give hope… and hope is a wonderful thing!
How do you see businesses shaping sustainability efforts in the future? Let us know in the comments below.