Sustainable business models could open up economic opportunities worth at least US$1.4 trillion and generate up to 380 million jobs per year by 2030. This was the conclusion of the report Better Business, Better World, made by Business & Sustainable Development Commission, which brings together more than 35 CEOs and civil society leaders.
The report reveals that 60 major opportunities in sustainable and inclusive markets in just four key economic areas could generate at least US$12 trillion, a value exceeding US$10 trillion of current GDP. The breakdown of the four areas and their potential values is: energy, with US$1.4 trillion; cities: with US$1.4 trillion; food and agriculture, with US$1.4 trillion; and health and well-being, with US$1.8 trillion.
The major opportunities in the report have the potential to grow 2 to 3 times faster than average GDP over the next 10 to 15 years. In addition to the directly estimated US$12 trillion, conservative analysis shows potential for an additional US$1.8 trillion in value creation across the economy. The report also shows that if the cost of externalities (negative impacts of business activities, such as carbon emissions or pollution) is taken into account, the overall value of the opportunities increases by nearly US$40 trillion.
However, the document emphasizes that these opportunities will not occur without the Sustainable Development Goals being at the center of global economic strategy and a significant shift in the business and investment community.
"This report is a call to action for business leaders. We are at the limit, and failure to change will result in more political opposition and an economy that simply doesn't work for enough people. We must shift to a business model that works for a new kind of inclusive growth," says Mark Malloch-Brown, chair of the Business & Sustainable Development Commission. "Better Business, Better World shows that there is a compelling incentive for the world to not only be good for the environment and society, but to make good business sense as well," he adds.
check the full report.
Information from Business & Sustainable Development Commission
