Sustainability Challenges Present Profitable Business Opportunities
Business leaders globally have strong confidence in their own ability to turn sustainability challenges such as water scarcity and lock-in to fossil fuels into new business opportunities, particularly in the manufacturing and finance sectors in emerging economies.
This is one of the key findings of the Global Opportunity Report launched yesterday by DNV GL, UN Global Compact and Monday Morning Global Institute. The report is based on a survey and consultations with more than 6,000 public and private sector leaders in over 21 countries.
Asked about future prospects, business leaders see untapped and profitable opportunities especially in handling and providing solutions to address water scarcity and to promote green consumer choices. Overall, developments in water-efficient agriculture is the opportunity that inspires most confidence among the leaders. Thirty-seven percent find this opportunity to have great benefits for society.
Opportunities related to lock-in to fossil fuels also is assessed positively. The most favored opportunity here is green consumer choices. This includes innovations to change consumer behavior to increased uptake of renewable energy in households or a growing selection of consumer products made with the use of renewables.
The public sector is expected to play an important role in realizing many of the opportunities described in the report, especially those that are regulation-oriented. Nevertheless, public sector respondents were consistently less optimistic than the private sector about how the opportunities can positively affect society and their capacity to pursue these opportunities.
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