The triple bottom line - do we need to wait until 2050?
In the interview with Peter Havers, I expressed Unibloom‘s vision that all business decisions should benefit people, planet, and profit equally across the value chain.
0 % in 2050?
It is heartening to see that 181 top leaders pledged in 2019 to shift from a shareholder value to a stakeholder value model. Moreover, there are climate and social impact solutions that can be scaled up, according to the World Economic Forum (WEF) and IPCC. However, in the latest report from the Intergovernmental Panel on Climate Change (IPCC) it is clear that urgent action is required, now, not later.
Yep, all those commitments and evidence are Nice. Clear. Insightful.
So - what's holding us all back?
However, despite these commitments and evidence, there are challenges that hinder progress towards achieving people, planet & profit equality by 2050. The main hurdles include linear business models with focus on short-term profits, 2-year return on investment (ROI), siloed organizations without collaborative KPIs, and challenges about the cost-of-living crisis, inflation and war impacting energy prices and supply chains.
Furthermore, the acceptance of retro analysis one year later, reporting ahead of actions, slow decision-making with scattered data and low transparency of projects, data & progress, are obstacles that prevent bold, transformative actions that prioritize people and the planet and combining it with cost savings or new revenue streams. Sustainability teams also face issues, with Harvard Business Review reporting that they only achieve 40% of their objectives.
What needs to change?
The challenges we face - even though all the commitments are there, evidence of what is happening stated and innovative solutions waiting to be scaled - are back to courage's people, transparent, integrated, predictive data & measurements, easier future fit workplace tools & data-driven collaborative decisions. We need to shift investments and adopt more circular business models.
At Unibloom, we believe that we can move closer to 100% probability of achieving people, planet & profit equality and accelerate progress towards a better balance already in 2030, and not wait until 2050, if we prioritize courage, collaboration, transparency, and data-driven decision-making with a longer-term horizon. It's time to make this change together.
What do you think of the triple bottom line, and what are the biggest barriers to achieving it faster and better?
Let's make the change together, now!
Join us and take part in our Sustainability Fireside Chat Community, on Tuesday May 9th where we focus on Circularity and Reduction of plastic. Share what's holding you back, your insights and actions.
Join us: community@unibloom.world
Cheers, Anna Sandgren
CEO & Co-Founder of Unibloom
