Human industry is an important factor in climate change because it depends on the uninterrupted production and consumption of natural resources. Creating a working environment that is conducive to sustainable business and employment can help create long-term value for businesses. I believe that sustainable business is a promising trend, but corporate strategies which focused on sustainability don’t mean sacrificing profits or putting success on the back burner because the growing consumer demand for green products and services is a significant business opportunity for companies who are using environmentally friendly technologies.
I envision a world where the government can conduct a comprehensive assessment of all forms of commercial subsidies and then maintain fairness and transparency in the marketplace by implementing appropriate pricing and regulations, thereby eliminating subsidies and harmful incentives that are detrimental to ecological sustainability. Some of the data that I've learned is that $22 billion a year is spent on subsidizing overfishing and that one-third of the world's fish stocks are overfished. The fact is that most of these subsidies go to industrial fishing fleets, and fish stocks that are sustainably harvested by small-scale, private, artisanal fishing enterprises are thus heavily depleted. I also envision a future that companies can target the circular economy to develop sustainable strategies to reduce business costs and increase brand value for their products. Some companies are practicing to significantly increase their brand value and competitive advantage by focusing on sustainability, such as Adidas, which has pledged that nine out of every Adidas product will be made from sustainable materials by 2025, and Nestlé, which has pledged to achieve net zero greenhouse gas emissions by 2050 and 100% recyclable or reusable packaging by 2025.
I support that governments should actively reform and develop environmental laws and policies, and sustainable governance should be promoted globally. Companies, in turn, should address regulatory issues around pollution and human rights, and communicate openly with key stakeholders to identify where they are going wrong in their sustainability strategies. CEOs and corporate boards of companies that lack sustainability in terms of implementation should strengthen their collaboration with key stakeholders such as NGOs, governments, and international organizations.