Creating Business Value While Addressing Climate Change
Are there opportunities for creating business value while addressing the global challenge of climate change?
Yes, there are.
A dozen U.S. corporations told the Senate that in an open letter last week. And yesterday, Ryan Schuchard and Betsy Fargo reached the same conclusion in their article at ClimateBiz.com.
In “Three Ways Climate Action Offers a Business Advantage,” Schuchard and Fargo –both from BSR –outline what they consider the three most serious “potholes,” or gaps, on the way to climate stability. These are:
- The gap between science and knowledge
- The gap between knowledge and action
- The gap between action and results
Once you recognize and better understand these gaps, your company can turn them into a competitive advantage. For instance, Patagonia uses its website to teach consumers about the lifecycle impacts of products –that lessens the gap between science and knowledge, while developing goodwill, credibility, and brand loyalty.
As Schuchard and Fargo conclude, “It is natural when planning and reporting to follow the crowds, but there are opportunities for climate leadership when you look for the gaps in public knowledge, action, and results. Taking them seriously will do wonders for your credibility, and potentially lead to new kinds of business growth.”
