Redesigning business value: a roadmap for sustainable consumption - Marguerite Larkin
The issue of sustainability is appearing more and more often on agendas, be they in the Board room or individuals’ own personal agendas. In our recent Consumer Products report, we highlighted that consumers are scrutinising their spending patterns however, they are not just considering low cost, they are also considering their own consumption habits and making choices based on their personal values, and key to these is sustainability. Similarly, the Deloitte Christmas survey 2009 found that 49% of Irish consumers advised that they avoided buying products with a carbon impact on the planet.
As Head of Consumer Business at Deloitte, Marguerite Larkin points out, “It is evident that Irish consumers and companies are becoming more green aware (Ireland’s recent Green Awards are testament to this).
However, driving sustainable consumption is about more than cost cutting and CSR. In a recent collaboration between Deloitte and the World Economic Forum, this is addressed. The report highlights that driving sustainable consumption will require fundamental changes in the way business is done and the way the world consumes, requiring rethinking of business models, supply chains and how society values goods and services. It will involve a major shift in the way businesses survive and thrive in ten years time and that the process for achieving sustainable consumption will provide a myriad of opportunities for business innovation, profit and leadership.
While this report looks at why businesses need to consider change and what individual companies can do, just as importantly, the report shows how the collaboration of business, government and civil society can help find solutions to key global challenges."
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