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  • A new position in the C-suite Perhaps no greater signal of the environmental focus that now permeates the business world could have been offered than the presence in our event of dozens of chief sustainability officersa job title that did not exist 30 years ago, much less 50

    A new position in the C-suite Perhaps no greater signal of the environmental focus that now permeates the business world could have been offered than the presence in our event of dozens of chief sustainability officersa job title that did not exist 30 years ago, much less 50

    A new position in the C-suite can be no greater place environmental signal that now permeates the business could have been offered as the presence in our case of tens of sustainable development leader officersa job title that n ‘did not exist 30 years ago, much less 50. in the last 50 years. Even the challenge of leadership and energy-intensive industries arranged an image changing transformation that is underway. But despite the changes in attitudes over the last 50 years and the progress that has been made, the damage to the Earth continues. This week marks the 50th anniversary of the celebrations around the country and teach-ins environment that has come to be called Earth Day. A crowd present at the first celebration of Earth Day, the Fairmont Park in Philadelphia. In an equally dramatic turnaround from past decades, senior officials of major environmental groups like the World Wide Fund for Nature, Natural Resources Defense Council, Global Reporting Initiative, and the Board’s Accounting Standards Sustainable Development highlighted their work with businesses. (You can watch a recording of the summit here.) More important than the travel change and technology, we observed a marked change in tone. In this regard, Nobel economist Bill Nordhaus of Yale prizewinning told our top the best way to deal with climate change would be by carbon fillers of some kind.Calls like this were a common feature of environmental debates years.But broad support as the price of carbon among business leaders who spoke reflected a very new attitude in the business world. (Xinhua Photo / Michael Nagle via Getty Images) We see this trend intensified in the coming years. Both Wal-Mart and Trane HVAC manufacturer have launched initiatives to reduce Gigaton 1 billion tonnes of emissions by 2030. Armstrong Roberts / ClassicStock / Processor Getty Images) To commemorate this anniversary, Yale University’s School of Environment, School of management, and the common law faculty organized the summit Business Sustainability Yale. Today, no company can go ahead without a deep appreciation for what is necessary to maintain what management experts call its social license. In addition to these companies responsible for the environment, our Earth Day @ 50 event attracted an impressive number of government officials, engineers, scientists, public health experts, historians and professors, students, and others interested in evaluating the legacy of Dayand Earth to highlight how their fields would contribute to the mounting pushed societys challenges to address issues of sustainability. Dan Esty is a professor at Yale University Hillhouse and publisher of the recently published book better planet: 40 great ideas for a sustainable future. But the world is very different largely because TodayIn April 22, 1970, 20 million Americans took to the streets to demand a reduction in air pollution, improving water quality, and better waste management. One after another, the CEOs of major companies, including Alan Jope, Unilever, Darius Adamczyk Honeywell and Steve Voorhees ofWestRock, one of the country’s largest producers of packaging, explained how a focus on ‘sharpened their environment has helped companies reduce costs, reduce risk, increase sales and add value to their bottom line. While activism in the immediate aftermath of the original Earth Day led to the legislation on clean air, drinking water safer, toxic substances, surface mines and endangered species, the aim of the summit was whether and how business has changed. Jeff Sonnenfeld is senior associate dean and Lester Crown Professor of Management Practice at the Yale School of Managementand President of the Institute of Executive Leadership Yale chief. Pedestrians pass a card on Broadway street closures during Free Car Earth Day 2019 in New York, April 27, 2019. In closing the summit, Indra Nooyi, chairman and former CEO of PepsiCo, said: Maybe, just maybe we can emerge from this pandemic for the long term and more sustainable form of capitalism.We share that hope. focus Instead of seeing environmental issues regarding the conservation of land and industrial pollution control as a burden for companies, heads of business participants spoke of how environmental sustainability has become a key element of business strategy from day to day. Ralph Izzo, chief executive of the utility PSEG, discussed how his company has invested more than $ 2 billion in solar power and close to this amount in offshore wind, as well as significant investments in energy efficiency .Were trying to create a future in which customers use less energy, the energy they use is cleaner, that clean energy comes with a higher degree of reliability and resilience, and electricity is used to power the broader economy that power today, Izzo told the summit. During the last half century, leadership of American business has largely shifted its thinking on the environment, see the pollution and resource management for conflict and annoyance to recognize sustainability as a value strategic trade. They argued that the world needs to wake up to the environmental degradation and change his ways. Other companies are working to significantly reduce the amount of energy used in their industries. While NGOs continue to push for more ambition in their business partners, their continuing engagement with companies across the country showed that progress toward a sustainable future happen faster if the capacity for innovation and financial strength business world can be leveraged. Companies must therefore play an even more important role to work with the government to provide changes of transformation necessary to move society towards a clean energy future and a sustainable path more generally. At that time, most companies saw environmental issues as a secondary issue, or even an obstacle to theirreal business of manufacturing and selling goods for a prosperous nation. As Mike Lamach the ofTrane CEO, declared: Our belief is that a society can change an industry, and an industry can change the world. He is the author of the pioneering book sustainability of public company Interestand Views also Farewelland Heros Back Firing. Corporate America had become a constructive force in the last 50 years traveling the United States and the world towards a more sustainable future? Response wasyes consensus though with important qualifications. And sustainability has become part of the mission and culture of most companies, if not all. most companies have realized the need to be part of the solution to sustainability. Many summit participants expressed the hope that in the wake of the crisis Covid-19, there will be an increased willingness to take greater collective action on sustainable development. He has held various senior positions at the Environmental Protection Agency in 1980 and 1990 and as Commissioner Connecticuts Ministry of Energy and protection of the environment 2011 to 2014. Most companies have launched several initiatives related to sustainability are important investments in support of these efforts, and many starting new businesses focused on providing sustainable solutions to their customers. And it is true that today’s organizations of all types and sizes set the objectives of sustainable development, report on a series of measures to monitor progress and hold their leaders accountable for environmental performance. Initiatives to reduce waste and increase recycling companies that have bought into the concept of a circular economy and have set ambitious targets for reducing the amount of landfill waste, especially packaging. In this regard, we heard repeatedly of business leaders such as the chief executive of Boston Consulting Group Rich Lesser, as companies move quickly based on business models onshareholder primacy to the prospect that astakeholder recognizes obligations to employees, customers, suppliers and communities. Walmarts Jane Ewing who shared in 2018, the company supplied 28% of its operations with renewable energy and diverted 81% of its waste in landfills. We expect the public will demand an end to this emissionsor at least insist that the company pays for the damage it causes