Lets see some numbers on it !

I just read a study by McKinsey and Co on Corporate Sustainability and was intrigued by their findings. Authors Shelia Bonini, Stephan Gormer and Michaela Ballek reveal that despite the media hype and consumer interest in sustainability, corporations typically don't pay attention to it because "many have no clear definition of it. A casual wiki search of the word describes it as "the capacity to endure."Wiki

At this point I started to see how problems in definition might creep up. It does not describe what or how the "endurance" can be achieved. Going to Sustainability's website helps clear some of those problems up. Aside from the problems of definition, the McKinsey Study found that  only 27% of survey respondents said that CEO's make it a top 3 priority in everyday business.

I wonder if that is because sustainable development involves "meeting the needs of the present without compromising the ability of future generations to meet their own needs." It definitely involves some current costs either through lost consumption or in time spent generating creative solutions to the problem. But the future benefits are intangible. While the respondents of the study replied that integrating sustainability affected long-term shareholder value and the reputation of the company significantly, the benefits are not clear. Sure, we are ensuring future profitability - but by how much and by when?

The study also reveals that 74% of energy executives incorporate sustainability as compared with 53% in other respondents. I think this may be because the benefits are clearer to them. The answers by how much and by when are probably easier to answer with extensive R&D and capital at your disposal. Also - the timeline is shorter. Alternate sources of energy are either being used or are being tested today.

I argue that other industries and some developing countries do not see a well-defined numerical benefit to sustainability yet. The failure of the Copenhagen UN Climate Change conference increased uncertainty by 30% and reduced the probability of adopting it by 15%.  It is the responsibility of those passionate about environmental change to put some numbers on it. Maybe that will convince the governments and businesses that are fuzzy about the concept to be willing to innovate and implement sustainable development.