As usual I have been engaging in trawling the internet for interesting articles and news. I found this interesting report cowritten by the WEF and McKinsey in the lower depths of Reddit that highlighted that by 2050 oceans are expected to contain more plastics than fish (by weight). So I got curious to learn more…
“About 95% of plastic packaging material value, or USD 80–120 billion annually, is lost to the economy after a short first-use cycle. This indicates a significant economic opportunity” – THE NEW PLASTICS ECONOMY
This report is an excellent next step, offering a root-cause solution to the problem of ocean plastics as part of a broader rethink and new approach to capture value in the New Plastics Economy. The economic and environmental case is now clear — I therefore call on governments and businesses alike to take urgent action to capture the opportunity.’
There may be a point soon where there will be more things (by tonnage) floating on the ocean than things living in it.
Sounds like a certain, very Social Plastic has had the right idea.
But this brings us to another point, what is innovation and where should it occur? Then again the reply to the last question is dead simple. Innovation can and should happen absolutely anywhere and everywhere!
Consider the way that Plastic Bank’s social plastic is able to prevent plastic waste outflow by empowering entrepreneurs to be able to collect what was once waste by creating a supply and demand relationship. We must also recognize the brands and companies that buy this plastic such as LUSH Fresh Handmade Cosmetics. These are the relations that have to be built in order to reduce waste, by creating an opportunity cost and making the sustainable choice the easy one.
There are some companies that are showing that they care about their brands, like Unilever
Over the past few decades ethical business leaders have been trying to steer and establish more sustainable operations that have greater accountability of the impacts they produce through their value and supply chains.
In class four we discussed ways that key change-makers could create the preconditions for sustainability innovation. This process reminded me of several concepts from other classes such as Organizational Behavior and Brand Management. The first two steps represented quick wins that generate successful business cases for action as the required actions were easy/cost effective to implement, easy to measure and the success of which was particular relevant/resonant to the key stakeholder i.e. managers focused on a traditional, profit based bottom line.
This has been reflected in the way companies like Unilever and Bcorps place a heavy emphasis on defining key performance indicators (similar to a grading system) throughout their product chains, that are directly connected to sustainability and the bottom line. Data definition and collection is key.
This approach may seem like Business 101 but there now even smaller players can make a huge difference. Consider the way the water sector and water sustainability is being transformed by startups and companies targeting the entire value chain by creating the platforms for greater change.
By shifting the consensus/equilibrium we are then able to generate the social/professional credibility required to create the flexibility in a conservatively minded business that allows us to further move along the ladder of innovation for sustainability.
In the end if often comes down to taking a sales like approach by creating internal messages that show that we are doing the right thing for all the right reasons in a way that satisfy everyone’s bottom line.
