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Krungsri Prime is the place to go to read the article, “Post-COVID Business Trends When “sustainability” is the answer” by Siraphat Gauthira, CFP. Sustainability is an increasingly important issue for many people, especially in the business world. Climate change continues to affect our lives as well as the fate of all other species on the planet. For business owners, leaders, and administrators, sustainable business practices are becoming more and more importation. Especially after covid-19 situation many companies have come to agree that we need to pay attention to environmental, social, and governance (ESG) issues, which are becoming increasingly critical for all companies across all industries. So, is "Sustainable Business" the next big thing people are aiming for or just the fancy word for the big company to promote that makes them sound trendy and to look good in the public’s eye? Find out more by reading the article at https://www.krungsri.com/th/wealth/krungsri-prime/privileges/articles/business-trend-after-covid19 You will be happy that you did!
Now that you know more about the article, “Post-COVID Business Trends When “sustainability” is the answer” by Siraphat Gauthira, CFP; let’s talk about sustainable businesses post COVID. During the recent global economic crisis, governments have spent trillions of dollars in stimulus money to address the needs of the nation. As a result, more emphasis is being placed on environmental sustainability. Businesses are increasingly interested in developing green commutes and sustainable work practices. However, while these initiatives are great for Sustainable Business consumers, they should not be the only drivers for corporate sustainability efforts.
For businesses, achieving sustainable recovery can be difficult. Unlike the pre-COVID period, the business environment is now fragmented. This makes it more challenging to respond to future shocks. As a result, businesses are encouraged to adopt more flexible and inclusive business practices. This includes encouraging employees to take action. The use of data visualization can help businesses evaluate their impact on the environment. It can also be used as a tool to make the case for a sustainable business strategy.
As a result of COVID-19, companies of all sizes are faced with the challenge of adapting their business practices. This is not just about reducing carbon emissions, but about building resilience. In order to achieve this, organizations must adapt to their new business environment and develop innovative technologies. This requires a multi-stakeholder approach to managing. This includes working with partners, communities, and other stakeholders.
This is a critical challenge in today's world. A business cannot thrive in a world of inequality or unrest. Moreover, businesses must find new ways to engage their stakeholders. This means implementing more sustainable work practices, emphasizing diversity, and highlighting their commitment to reducing carbon footprints. It also means focusing on resolving social and environmental issues, such as poverty and promoting equality.
The UN's Sustainable Development Goals (SDGs) are a valuable policy document for business leaders and practitioners. It offers a comprehensive view of the challenges and determinants of excellence in sustainable development. It provides a framework for integrating the objectives of the SDGs into strategic plans. It also presents the determinants of performance and performance gaps. It is well developed and documented, and is useful for governmental institutions and prominent individuals in decision-making processes.
Despite the growing importance of sustainability, only 48% of companies are implementing these practices. The United Nations Global Compact, which is an organization that aims to build a more sustainable world, has examined these data. It found that just over half of professionals see their company's purpose as driven by 2021. Ultimately, companies must follow through on their commitments to decarbonize operations.
A number of recommendations from the OECD can support these objectives. These include:
Advancing sustainable recovery through inclusive infrastructure strategies. This includes refocusing the public budget toward environmentally sustainable business actors, fostering greater adoption of responsible business conduct standards in public supply chains, and shifting government resources toward a more sustainable procurement system. Among other benefits, these recommendations could strengthen policy coherence, facilitate a level playing field for businesses, and avoid distortions in global competition.
Boosting the traditional industry can have positive impacts on employment and the economy. However, it may undermine long-term efforts to halt climate change. Additionally, boosting the industry may create unnecessary costs and less value for money. Now that you know more about sustainable businesses post COVID, it is time to go back to the article written by Siraphat Gauthira, CFP, “Post-COVID Business Trends When “sustainability” is the answer” to learn more today!