Peter Madden, chief executive of Forum for the Future, writes a monthly column for Gristmill on sustainability in the U.K. and Europe.
Forum for the Future recently asked a selection of top business and branding folk to give us the lowdown on the recent trend toward sustainable business. The gurus included Rita Clifton of Interbrand, Stuart Hart of Cornell University, William Kramer of the World Resources Institute, and Jonathon Porritt of Forum for the Future. I have distilled their wisdom into six insights.
1. A real sea change is underway. Looking at the current trends and recent announcements, there are signs of real progress and positive signals of change. In an arena that was once confined to the Body Shop and hippies, we're now seeing a major shift in more mainstream businesses. In the U.K., Tesco, Marks & Spencer and Topshop are all in on the act.
2. Progress is partial. Despite the advances, the size of the challenges we face in building a sustainable future means there is still a long way to go. Even the more progressive strategies, such as General Electric's "Ecomagination," do not fully acknowledge -- or live up to -- the scale of change required. Fundamental questions regarding unsustainable business models need to be addressed before strategies can be fully credible.
3. Business is in the driving seat, not consumers. Although consumer interest is increasing, it's not yet strong enough to drive these trends on its own or make up the entire business case. Business strategy can't completely rely on consumer insight or market research. Bold action and leadership is needed from business to drive this change through to the consumer.