People, Profits, and Planet

Joint Responsibility for Working towards Sustainable Development

Biba Jasmine highlights the need to foster inclusive economic growth that benefits all stakeholders. In today's rapidly evolving world, the demands of governments, people, and all stakeholders on growing businesses are changing-innovation and agility are more important than ever. A national strategy and ambition to create long-term value is needed to simplify complex issues and use technology and innovation to gain actionable insights, structure current challenges, or leverage lessons learned, based on cross-sectoral learning that is the key. As a result, businesses need to re-evaluate their investment portfolios, procurement strategies and supply chains. However, companies cannot do this alone. Consumers also have a crucial role to play.

In the modern world, there has been a realization that man is an integral part of nature. But at the same time humanity has also begun to understand the depth of a wise saying, "Mother Nature protects when protected," which has a positive connotation.

India has managed not only to preserve but also to significantly expand its natural resources, even though the rest of the world is still struggling with major losses of forests, wetlands, and mangroves. This is an important lesson in how development can coexist with improving and protecting our natural resources without destroying them. Instead, India is finding ways to promote sustainable development that goes hand in hand with environmental protection.

Businesses, industries, and the private sector all contribute significantly to the growth of the economy. What we need for this to happen, however, is a shift in thinking about the frequent occurrences of natural disasters and the inequalities associated with exposure to environmental damage and its associated risks. It is important to rethink the way companies perceive, assess and mitigate natural risks today and in the future.