While some business sectors are reluctant to invest the work and resources to achieve their ends more sustainably, other segments are in step with SasinSEC’s mandate to forge ahead with the long view in mind. Mark Segal, writing in a recent issue of ESGtoday, explains why the business sector should dispense with baby steps and instead take giant strides towards becoming sustainable: Exponential, not incremental, change is needed for sustainability. Existing sustainable strategies often do not align with environmental goals due to a disconnect between sustainability targets and business models. Many companies have committed to net-zero carbon emissions by 2050, but few have credible plans to make that happen. New models in sustainability focus on restraint and reduction of consumption, adopting circular models to eliminate waste, and pursuing growth that has minimal negative effect. The emphasis on long-term goals encouraged by Sasin’s program can conflict with shorter term priorities of investors and economists. The next generation of sustainability, Sustainability 2.0, will require businesses to revisit capital and business models in order to think more long term while meeting current stakeholder needs. Materiality plays a crucial role in this shift, examining how the business impacts environmental, social, and economic matters and how they in turn could financially impact the business. Critically, Sustainability 2.0 expands the concept of value to more explicitly include social and environmental value, leading to collaboration between businesses for cross-sector sustainability initiatives. It is important for Sasin’s alumni to prepare to bridge the gap between business focus and long-term planetary needs. See the complete article here.