Earth prosperity preparation is necessary for businesses maintain long-term competitiveness, given that humanity consumes more than it has the capacity to produce
Sao Paulo, August 2020 – Earth Overshoot Day is scheduled for the 22nd. While public health challenges and economic recovery are the main concerns around the world due to the pandemic, Schneider Electric, a leader in the digital transformation of energy management and automation, and Global Footprint Network combined efforts to instigate a strategic conversation about long-term business generation.
The date that marks the planet's overload will occur three weeks later than in 2019. The reason is the Covid-19 pandemic, which forced humanity to abruptly slow down its pace.
But what is Earth Overshoot Day? It marks how the annual demand on nature exceeds what the planet can regenerate in a year. By then, humanity will have used up all the natural resources that the Earth can replenish for a full year – including the capacity of natural ecosystems to absorb carbon emissions from fossil fuel burning.
The e-book “Strategies for One-Planet Prosperity: How to build lasting business success on a finite planet,” produced jointly by the companies, presents the approach that organizations need to take to remain relevant in a world shaped by climate change and resource constraints. As the e-book explains, this strategy is becoming necessary for companies to develop long-term competitive advantages. The choice is between planning for the future to support human needs for well-being and resource security (while improving the chance of remaining economically successful and recoverable) or continuing the natural course of business and becoming irrelevant.
“With economic recovery in mind, it’s time for entrepreneurs and industry leaders to recognize that delivering products and services that enhance humanity’s ability to thrive isn’t about doing good, it’s about doing what’s necessary for business,” said Mathis Wackernagel, founder and president of Global Footprint Network.
The Planetary Thrive Framework was launched last year by Schneider Electric and Global Footprint Network. This year, they have teamed up to illustrate how companies that make products and services that support humanity’s long-term success – helping to move Earth Overshoot Day forward – are best positioned to make long-term plans.
According to research conducted by these two organizations, if 100% of the planet’s buildings and industrial infrastructure were equipped with energy efficiency and renewable energy technology from Schneider Electric and its partners today (provided there were no changes in human habits), the date of Earth Overshoot Day could be delayed by at least 21 days. This means that energy modernization could make a difference of three weeks. As a result, if humanity were able to move Earth Overshoot Day forward five days each year, compatibility with a full planet would occur before 2050, which is in line with the Paris Climate Agreement. The e-book also presents other examples of companies, from various sectors of the economy, aligned with a business model that supports the prosperity of the planet.
According to research by the Global Footprint Network, the three-week reduction in Earth Overshoot Day in 2020 was largely due to reduced travel and construction due to COVID-19, which induced lockdowns around the world. Carbon emissions fell by 14.5%, and forest product harvests fell by 8%. The drop in resource consumption observed this year was sudden and unexpected. Because it was imposed, it is likely to be temporary. Humanity continues to demand as much from nature as if we were living on an Earth 1.6 times the size.
“Together we can transform our future and become resilient, something that works for everyone. The key is to shift the conversation around sustainability from a noble one to a fundamental and necessary one. This can help unleash the wave of global prosperity, the most viable strategy we know,” said Olivier Blum, Chief Strategy and Sustainability Officer at Schneider Electric.
The e-book from Schneider Electric and Global Footprint Network encourages decision-makers to pause and ask themselves: Does my business support the long-term success of humanity?
Access the e-book here: “Strategies for One-Planet prosperity: how to build a lasting business success on a finite planet”
Find out more at:
http://www.se.com/ww/en/about-us/sustainability/overshoot-day/index.jsp
About the Global Footprint Network
The Global Footprint Network, a pioneer in ecological footprint accounting, is an international sustainability organization that is helping the world live within the meaning of Earth and respond to climate change. Since 2003, it has engaged with more than 50 countries, 30 cities and 70 global partners to provide scientific understanding that drives high-impact policy and investment decisions. Learn more at www.footprintnetwork.org.
