May 01, 2017

Sustainable development is good for business

Jennifer Wills

Businesses are integrating sustainable development principles into their decisions and strategies to reduce risk, save money, increase innovation, and protect the planet. This article discusses two ways businesses are doing this: collaboration/partnerships and supply chain sustainability. For instance, collaboration can provide private-sector companies with tools to reevaluate particular operations (e.g., The Nature Conservancy helped Dow value ecosystem services) or to evaluate their supply chains (e.g., Bayer used a tool created by EcoVadis to assess suppliers to ensure sustainable procurement). Certain organizations, like the Business and Sustainable Development Commission, are focusing on helping businesses utilize sustainable practices and teaming up with businesses to achieve the U.N. Sustainable Development Goals (SDGs).

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