Dayeta

This is a complete new topic, i.e., Innovation for sustainability and role of Digital technology. Generally the threepillars of sustainability is described along with some examples.

1. From Adamas University  Kolkata (India) International Seminar organised by  Kyiv National Economic University Innovation for Sustainability: Role of Digital Technology Speaker: Ms. Dayeta Banerjee (Pursueing Bachelor of Business Administration)

2. Outline Concept of Sustainability in business Triple Bottom Line Approach Innovation in Sustainability Role of Digital Technology Conclusion

3. Concept of Sustainability in business Sustainability is becoming a growing need and it is apparent that society won’t be able to respond sufficiently without engagement from enterprises.  Business environment is in the midst of  two transformations: towards digital and towards sustainable. Sustainability is a three-legged stool of people, planet, and profit. Sustainable businesses with the supply chain try to balance all three through the triple-bottom-line concept—using sustainable development and sustainable distribution to affect the environment, business growth, and the society.

4. Triple Bottom Line Approach The Triple Bottom Line is one of the main systems being used by businesses to assess the profits they are making through their corporate sustainability solutions.  The Triple Bottom Line method asks one to see beyond the traditional bottom line of business, I.e., profits. 

5. Economic Pillar The business that strengthens the economy is part which will continue to succeed in the future, since it contributes to the overall economic health of its support networks and community. A business needs to be aware of its traditional profits as well, and the Triple Bottom Line accounts for this.

6. Social Pillar  The Social bottom line measures the business’ profits in human capital, including the position within the local society.  The social bottom line is increased by having fair and beneficial labour practices and through corporate community involvement and can also be measured in the impact of your business activities on the local economy. A few initiatives that an organization may consider as part of its goals includes advancing human rights; ending poverty and hunger; diversity, equity and inclusion; gender equity; ensuring a healthy and safe work environment; and community engagement and volunteerism.

7. Environmental Pillar The Triple Bottom Line approach to sustainability takes the view that the smaller impact your business has on the environment and the fewer natural resources you consume, the longer and more successful your business will be.

8. Innovation in Sustainability Sustainability can drive innovation by introducing new design constraints that shape how key resources are used in products and processes. Innovation and diffusion of new technologies are indispensable for economic growth. They lead to increased productivity and to the creation of wealth and economic well-being, including decent and green jobs. This is essential for creating an enabling environment for inclusive and sustainable economic growth. Triple Bottom Line approach is generally used in General Electric, Unilever, Proctor and Gamble etc. 

9. Role of Digital Technology in Sustainability Digitalisation and Innovation is also beginning to play a key role in determining what we want beyond what is necessary for basic survival.  Examples of sustainable technology implementation:  Walmart, Patagonia, Mega City of NEOM, Microsoft. 

10. Walmart  It is one of the biggest retail corporations represents multiple deployments of digital transformations that work to eliminate wastage and energy usage and to provide supply chain control. This Photo by Unknown author is licensed under CC BY-NC-ND .

11. Patagonia  It is a sustainable clothing company with $800 million revenue that can boast with using organic materials, selling worn and recrafted outfits and organic provision.

12. Mega City of Neom It deserves the name of a sustainability dream where all possible and impossible technologies merge to serve humanity.  NEOM represents how far one can go with incredible imagination and substantial finance.

13. Microsoft It is one of the leading software providers moves towards reducing its environmental impact and at the same time helps other companies turn “green”.

14. Conclusion Large-scale change doesn’t happen overnight. Solving the world’s major social and environmental problems takes time and effort.  Through a purpose-driven approach to business, companies can help create a more just and sustainable future.  Small steps lead to big changes, and it is up to all of us to create a greener, more sustainable future and we can do this by harnessing the power of technology.

15. Thank You