Companies will design and deliver products and services aligned with sustainability goals by innovating business models, allocating R&D spending, designing for sustainability, communicating the impacts of products and services, reviewing marketing practices and advancing strategic collaborations.
Business Model Innovation
Companies will innovate business models to reduce materials inputs and prioritize a transition to sustainable products and services.
R&D & Capital Investment
Companies will use sustainability as an equally weighted filter through which all R&D and capital investments are made.
Design for Sustainability
Companies will approach all product development and product management decisions with full consideration of the social and environmental impacts of the product throughout its lifecycle. Companies will design products and services that not only minimize negative environmental and social impacts, but also serve as solutions to key sustainability challenges and accelerate the transition toward a circular economy.
Marketing & Consumer Engagement
Companies will align their marketing practices and product revenue targets with their sustainability goals and will engage consumers to educate and build awareness on sustainability issues to influence consumer behavior change.
Products and services can either add to our mounting sustainability challenges or be part of the solution. Innovative companies are transforming business models to create products and services that minimize adverse social and environmental impacts and, in many cases, have positive sustainability impacts.
Such innovation is a response to increasing awareness of the severity of sustainability threats to the global economy and growing consumer demand for products and services that are produced and consumed in a socially and environmentally responsible way. But there’s another major driver, too. An increasing number of companies understand that driving sustainability in product and service design and delivery can also drive long-term growth, shareholder value and profitability.
The multi-faceted, complex sustainability challenges that confront the global economy will require investment in new products and services that offer solutions to sustainability problems, as well as the redesign of existing product portfolios to eliminate negative impacts.
In many sectors, such investment and change is an urgent necessity. For example, climate change and the changing precipitation patterns that come with it are forcing food and beverage companies to plan for more uncertain commodity markets and supply chains. Consumer companies must respond to consumer demand for more sustainable offerings or lose their competitive edge. Financial Services companies have a major role to play in creating innovative lending programs that drive and support the development of clean energy, green technologies and financing for the collaborative economy.