28 Mar Sustainable Business Will Create Millions of Jobs and Unlock $12 Trillion Globally
The Business & Sustainable Development Commission has released a new report demonstrating that bolstering the circular economy and implementing widespread sustainable business practices will unlock a potential $12 trillion on a global level, according to Sustainable Brands. The Commission, whose members authored the lengthy report, entitled Better Business, Better World, claim that sustainability practices will create up to 380 million circular economy jobs per year by 2030, a truly staggering number. The report can be read in full here.
The report details the effects that unequal economic growth and heightened environmental risks have played in creating a less stable global market overall. Sustainability and a circular economy, the authors argue, are good for the environment and good for business. Mark Malloch-Brown, chair of the Commission, noted, “This report is a call to action to business leaders. We are on the edge, and business as usual will drive more political opposition and land us with an economy that simply doesn’t work for enough people. We have to switch tracks to a business model that works for a new kind of inclusive growth.”
At the core of the report are 17 Sustainable Development Goals, or quantifiable objectives that seek to overcome environmental problems, improve healthcare and education, radically reduce poverty, and create more circular economy jobs by the year 2030. The report also highlights 60 distinct economic “hot spots” in four distinct areas in which sustainability practices could generate $12 trillion, or more than 10% of the current global GDP. Paul Polman, CEO of Unilever and a member of the Commission, states that the opportunities for sustainability in the report offer all of us a way out of an economic model of futility and overconsumption. The report outlines the necessity of a “new social contract” between society, businesses, and world governments for a fairer economy, which will lead to the unlocking of trillions of dollars around the world.
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