global consumer culture | sustainability management extra notes

economic, social, environmental

three pillars of sustainability

regulatory drivers, industry & international drivers, social pressure drivers, market mechanisms, corporate & individual drivers

drivers of sustainability

regulatory drivers

domestic environmental protection laws

incentives

recommendations for compliance

delivered thru govt. bodies overseeing institutions

international environmental and trade agreements

industry & international drivers

uniform industry standards to stimulate operating effiency, minimize economic, environmental, & social risks

codes of conduct

voluntary initiatives: move from treating end-of-pipe disposal → pollution prevention

social pressure drivers

environmental & social activism

indigenous & community rights

press & social media

market mechanisms driver

stakeholders within value chain

insurance companies: high environmental risk causes high insurance premiums

investors pressure the firm

adding economic costs: cap-and-trade systems encorage businesses to do better environetntally standardly

corporate & individual drivers

competitive advantage

access to talented labor pools

personal preference of corporation leaders

reduction of inputs and resources

reduced operational risks

Millenium development goals

economic development for DEVELOPING countries.

sustainable development goals

economic development, social development, environmental protection for ALL countries.

UN global compact

a voluntary strategic policy initiative for businesses that are committed to aligning their operations and strategies with 10 universally accepted principles.

Human rights, Labour standards, Environment, and Anti-corruption

ceres 4 guidance pillars

honest accounting- abolishes “free pollution” (i.e. largely unchecked carbon emissions)

higher standards- high standards of ethical and sustainable business and investor leadership

scalable solutions- promote green innovation globally

smart policies- discourage high-polluting tech & encourage cleaner sustainable tech

world business council for sustainable development

CEO-led org that has forward-thinking businesses collaborating to move businesses towards a sustainable economy and world

ISO standards

setting common, international standards to achieve ISO certification. focuses on environmental, economic, and social impacts. helps companies meet legal requirements

eco-labeling

voluntary method of environmental (or social) performance certification that is practiced globally.

factors of a successful eco-label

consumer awareness & understanding

consumer confidence

consumer willingness to pay for an eco-labeled product