Last class, we talked about two concepts: creating shared value, and sustainability. According to the Harvard Business Review, shared value is, “policies and operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in the communities in which it operates”. On the other hand, one can look at sustainability as the triple bottom line, and the framework of trying to find balance between social, environmental and economic benefit. While these topics mostly pertain to companies and corporations, I personally think that they can be applied to countries as well. According to the U.S Energy Information Administration, China imports more oil than any other country in the world, and “Its [China] coal consumption – about four billion tons – is so vast that it is burning nearly as much coal as the rest of the world”. Combining this with the fact that, “the new frontiers [of oil] are in deep ocean water and in developing countries, where political instability and conflict are often the rule” makes China’s current way of actions simply not sustainable (Reguly, 2013). China has realized this, and is trying to become more sustainable and create more shared value by investing $1.28 trillion in a five-year plan that will have a beneficial impact socially, as the plan aims to reduce the amount of smog in the air, which in turn leads to better air quality, higher life expectancy and healthier people, environmentally as it aims to reduce fossil fuel emissions, and economically as the plan also aims to increase China’s GDP.
Reguly, E. (2013, October 25). China’s troubled shift to a green economy. Retrieved from http://www.theglobeandmail.com/report-on-business/international-business/chinas-troubled-shift-to-a-green-economy/article15095368/
Tian, W. (2012, November 13). $1.28 trillion to be invested in green economy. Retrieved from http://www.chinadaily.com.cn/china/2012cpc/2012-11/13/content_15924634.htm
Creating shared value. (2011). Retrieved from http://www.waterhealth.com/sites/default/files/Harvard_Buiness_Review_Shared_Value.pdf
(2013, July 1). NWO and European Partners Announce Research Programme with NFSC on Green Economy and Population Change [Web Graphic]. Retrieved from http://news.nost.org.cn/2013/07/nwo-and-european-partners-announce-research-programme-with-nfsc-on-green-economy-and-population-change/
