Sustainability as the word of 2023
Showing yourself as a responsible company is a difficult task. However, it is profitable. For this 2023, the role of companies in the face of sustainability must consider and maintain a balance between social, environmental and development impacts.
In a world that is constantly changing and companies are facing unprecedented challenges, big brands are forced to take responsible measures that support new parameters of sustainable development. Uncertainty about the future, the incorporation of new technologies and financial management are just some of the challenges that will shake the work and management model of companies.
According to the Global Compact of the Spanish Network, these are some of the business trends that will mark 2023 in terms of sustainability.
Digital transformation. Digital innovation and sustainability go hand in hand. For this year, processes are expected to be more automated and work management much more dynamic and flexible, improving human and production conditions.
Sustainability in supply chains. Due to the need to establish resilience measures and manage possible risks from an economic, environmental and social perspective, supply chains have the responsibility of promoting and guaranteeing sustainability in the business process and showing transparency in the management model. .
Sustainable financing. The green economy or sustainable economy establishes sustainable development criteria in the management of economic activities in favor of the protection and restoration of the environment.
Increase in norms and regulations. Companies are beginning to implement ESG criteria (‘Environmental’ (Environmental), ‘Social’ and ‘Governance’ (Governance or corporate governance) for its acronym in English, are guidelines on environmental and social issues in which companies and investors adopt a commitment to sustainable development, ethics and transparency.
In 2023, sustainability will continue to be a business opportunity for the future. According to a consultation carried out by the UN Global Compact Spain, 79% of companies have stated that the 2030 Agenda of the SDGs provides a competitive advantage. Furthermore, 49% of companies confirmed that integrating sustainability and the SDGs had a positive impact on economic results. Business sustainability is key to taking advantage of these opportunities and not being left behind. Undoubtedly, during this 2023, sustainable companies will be the seeds of a greener and more inclusive world.