In India, sustainability today isn't merely a choice; it's an imperative. As India sets ambitious targets to slash its carbon emissions by 50 percent by 2030 and achieve net zero by 2070, the paradigm of “symbiotic sustainability” rises as a guiding principle for businesses. This approach not only ensures ecological preservation but also propels economic growth, transforming sustainability into a strategic imperative for future success.
For businesses, assessing their environmental impact must transcend rhetoric. It requires trustworthy evaluations devoid of greenwashing gimmicks. While India's environmental, social, and governance (ESG) preparedness is on the rise, challenges persist. A Deloitte survey indicates that only a fraction of Indian businesses feel they are adequately prepared to meet ESG requirements and ensure supplier compliance.
In a recent article, Kimberly King, Hitachi Vantara Senior Vice President of Strategic Partners and Alliances, outlines several strategies to address India’s environmental challenges and meet its sustainability goals. Her list includes:
Forge Strategic Alliances
In this discerning market, greenwashed themes fall short, and data-driven strategies are necessary. Businesses must collaborate with partners committed to sustainability. Aligning with like-minded partners amplifies sustainability efforts through shared knowledge and joint initiatives.
Innovate Sustainable Solutions Together
Collaborative innovation is key to tackling environmental challenges. Engaging partners to co-create sustainable solutions optimizes resource use and reduces environmental impact.
Share Best Practices in the Partner Ecosystem
Utilize the partner ecosystem to share knowledge and foster a culture of collaboration, accelerating progress towards sustainability goals.
Champion Sustainability Advocates from the Top Down
Leverage partnerships to advocate for policy changes supporting sustainability. Make the business case for sustainable operations, emphasizing benefits such as energy cost savings.
Quantify and Share Impact Stories
Measure and communicate the collective impact of sustainability efforts. Develop KPIs to track progress and inspire others with success stories.
Collaborate to Innovate
Bring together diverse expertise to co-create innovative products and services that support sustainability goals.
Work with the C-suite
Address the awareness gap in the C-suite regarding the importance of sustainability. Elevate visibility and influence company culture positively. Transforming sustainability into a core business tenet fosters lasting change. CEOs are increasingly spearheading sustainability initiatives, recognizing it as a business imperative.
Catalyzing Change
Establishing symbiotic sustainability within partner ecosystems requires a comprehensive collaborative strategy. These efforts not only mitigate environmental impact but also enhance brand reputation and stakeholder engagement. By embracing tangible measures, businesses can significantly contribute to advancing the global sustainability agenda, catalyzing positive change across industries.
Image Credit: Hitachi Vantara