Sustainability & Economics Basics
What is the definition of Sustainability?
Meeting current needs without compromising the ability of future generations to meet theirs
What are the three pillars of the Triple Bottom Line
Profit, People, and Planet
What is one major challenge businesses face when adopting sustainable practices?
High Initial Investment
What is one step businesses can take to become more sustainable?
Sustainable Business Strategy
Which organization in China pressured companies to adopt better environmental practices?
Institute of Public and Environmental Affairs (IPE)
What are the two types of costs businesses face?
fixed costs and variable costs
Which pillar focuses on reducing environmental impact?
Planet
Why are sustainable technologies often difficult for smaller businesses to adopt?
Because they often lack the resources to invest in new technologies.
What is a circular economy?
A system where materials are reused or recycled to minimize waste
What type of transportation was used by Riders for Health to deliver medical supplies?
Motorcycles
Why do companies invest in green practices despite high initial costs?
Because they lead to long-term savings and customer loyalty
How does the "People" pillar affect communities?
By improving living conditions and creating job opportunities.
How does balancing profitability with sustainability create difficulty for businesses?
It requires balancing short-term costs with long-term benefits.
How can financial incentives, like tax breaks, help businesses go green?
They offset initial costs and make sustainable investments more appealing.
How much land did Tesla CEO Elon Musk claim would be needed for a fully sustainable community?
<0.2% of Earth's Landmass
Name one benefit businesses gain by adopting sustainable practices.
Increased customer loyalty
Reduced Regulatory Risk
Improved Brand Reputation
Employee Satisfaction and Retention
How can balancing all three pillars improve a company's reputation?
By demonstrating responsibility and earning consumer trust.
What role do regulations play in creating challenges for businesses?
They add complexity by requiring compliance with varying standards.
How can working with suppliers help businesses achieve sustainability goals?
By ensuring ethical sourcing and promoting eco-friendly practices
How does Mountain Hazelnuts in Bhutan use sustainable farming practices to support communities?
By providing free hazelnut trees and supporting farmers with training and tools.
What is the role of consumers in encouraging sustainability?
By choosing eco-friendly products or supporting sustainable brands
Why is the Triple Bottom Line important for long-term business success.
Because it aligns financial success with societal and environmental goals
How can lack of education about sustainability affect a company’s success?
It makes it harder for companies to gain buy-in from employees or customers.
Why is it important for businesses to monitor and report progress on sustainability efforts?
It ensures accountability and builds trust with stakeholders.
What does the case of ITC e-Choupal in India teach us about improving efficiency and sustainability in supply chains?
It teaches us that providing information and tools to farmers improves both efficiency and sustainability.