From Sustainability to Purpose
COVID-19 has acted as a catalyst for change in sustainability with purpose taking centre stage. The rapid response to the global crisis shows the enormous impact that businesses can have on society when they look beyond short-term profits.
The definition of sustainability has broadened, evolving beyond environmental concerns and ethical credentials towards a more holistic purpose. Companies are expected to be a force for good, enabling access to sustainable yet affordable products while also helping to reduce economic, social and health inequalities.
Purpose-driven businesses go far beyond the traditional concept of selling products and services that create wealth for their shareholders. They aim to deliver value to all stakeholders, including society at large, local communities and the environment. Companies such as Salesforce and Patagonia are pioneering the trend towards giving a voice to the planet as a key stakeholder
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