ISBN : 9789811240928
Author : Preker Alexander S
Publisher : World Scientific
Year : 2023
Language : English
Type : E-book
Description : This book explores the business and investment implications of sustainability, both opportunities and challenges. The volume lays the groundwork for understanding the growing areas of sustainable business and sustainable finance. Over the past few decades, the world has witnessed significant improvements in economic development that meet a wide range of human needs. Ensuring that such development takes place in a "sustainable" way is the central focus of the book. The book provides insights for businesses, investors, and others on how to navigate this complex and evolving landscape. The United Nations and global leaders in business and investment have emphasized the important role that the private sector can play in protecting the environment and promoting a more sustainable use of resources. "What is needed now is a new era of economic growth — growth that is at the same time socially and environmentally sustainable. This call for action in the Forward to the 1987 Bruntland Report (Our Common Future), which emphasizes that economic growth is part of the solution not the problem, still rings true nearly 40 years later. Gro Harlem Brundtland Report of the World Commission on Environment and Development, United Nations 1987 "Private sector leadership is vital to advance sustainable development and fight the existential threats of climate change, biodiversity loss and pollution." António Guterres United Nations Secretary-General Message to International Chamber of Commerce's 13th World Chambers Congress United Nations Press Release on the Environment, June 21, 2023 (SG/SM/21851) Like Henry Ford's strategy over 100 years ago at the time of the mass introduction of the Model T Ford, Elon Musk had a similar strategy for switching from fossil fuels to renewable energy powered cars. "[Initially enter] the high end of the market, where customers are prepared to pay a premium, and then drive down [the] market as fast as possible to higher unit volume and lower prices with each successive model." Elon Musk CEO Tesla Inc, Interview with Solar Tribune, Feb 16, 2020 "Investing for the long term requires taking a long-term view of what will impact returns, including demographics, government policy, technological advancements, and the transition to a low carbon economy." Laurence D Fink Blackrock Chairman and Chief Executive Officer, Larry Fink's Annual Chairman's Letter to Investors, Blackrock, 2023 "Capital markets are an extraordinarily powerful tool in the fight against climate change. Government action is certainly critical. But ultimately, reducing emissions globally depends on the private sector recognizing the commercial opportunities that sustainability presents." Michael R Bloomberg Founder of Bloomberg LP and Bloomberg Philanthropies David M Solomon CEO of Goldman Sachs Mobilize the Market to Fight Global Warming Bloomberg, Opinion Article, April 27, 2021 Sample Chapter(s) Preface Chapter 1: Background and Context Contents: Preface Acknowledgments List of Figures List of Tables Abbreviations and Acronyms Summary of Chapter Abstracts About the Editors About the Contributors Background and Context (Diane-Charlotte Simon) Science and Challenges of Sustainability (R Daniel Bressler) Business Implications: Business and Sustainability (Diane-Charlotte Simon and Laurie Lane-Zucker) Entrepreneurship and Sustainability (Andrea E McGrath and Laurie Lane-Zucker) Corporate Sustainability and Financial Performance (Diane-Charlotte Simon) The Financial Case for Embedding Sustainability Core into Business Strategy (Tensie Whelan) Risk Management and Sustainability (Robert Pojasek) Investment Implications: Introduction to Sustainable Finance & Investing (Diane-Charlotte Simon) Building a Sustainable Portfolio (Diane-Charlotte Simon) Impact Investing (James Gifford and Jerome Tagger) Shareholder Engagement (James Gifford and Robert L Berridge) Environmental Implications: Environmentally Sustainable Businesses, Energy Transition, and Climate Finance (Diane-Charlotte Simon) Business and Financial Implications of Climate Change (Alan S Miller) Policy Implications: Market Imperfections: Internalizing the Externalities (Ingmar Schumacher) Environmental Policies, Laws, and Regulations (Karl Boyd Brooks and Diane-Charlotte Simon) Climate Change Adaptation, the Role of the State, and Fiscality (Peter S Heller) Macro-economic Implications of Sustainability (Alexander S Preker and Susan C Hulton) Afterword: Pitfalls of Industrial Policy Glossary A: Sustainability Terms Glossary B: Business and Investment Terms Index Readership: The book provides insights for businesses and investors on how to navigate this complex landscape of sustainability. It is intended as a primer for university business schools and schools of public policy and administration. It also appeals to a broader readership, including thought-leaders, policymakers, regulators, technical specialists, professionals, entrepreneurs, the press, social media, and the public at large.