So what? Compare that to the $700 billion in the Troubled Asset Relief Program (TARP) approved by Congress to bail out “Too-Big-Too-Fail” (TBTF) financial institutions. If there had been a reserve built from an FTT, the financial institutions could have bailed themselves out without tapping into taxpayers’ funds.
Tag Archive 'Bob Willard'
The Occupy / We Are the 99% movements have awakened many people to unsustainable economic inequities. There has always been a gap between the have’s and the have not’s. It’s the widening of that wealth chasm during a recession and the co-opting of the political process by corporations that has aroused recent global protests.
Protestors are accused of being heavy on criticism and light on solutions. However, when they put forward well-thought-out proposals, they are ridiculed for being naïve and out of touch with “reality.” That is, they don’t have any good ideas. Oh, really? These three videos cleverly capture concrete proposals that would help address the underlying causes of unjust and dangerous wealth inequities.
In September, 165 university and college student leaders from across Canada came together for three days with national business and sustainability leaders to explore real sustainability solutions. The Co-Operators Group convened this amazing IMPACT! conference at the University of Guelph, Ontario. I was on an opening night panel with three other cross-sector panelists.
Extreme weather events are happening more frequently, can damage the company’s facilities, and may require extensive time and money to rectify. The homes of employees may be severely damaged, or infrastructure providing access to the company site may be destroyed. Supply chain resilience after severe weather events is a growing issue for companies with far-flung global operations and suppliers. Storms at supplier locations or en route can jeopardize supply and force the company to use more expensive alternative sources.
First, it is one thing to be expensive; it is another to be more expensive than competitors. The adjacent slide shows the concerns that drive companies’ climate change strategies. Pricing worries are behind the top three. If competitors are quicker to harvest the benefits of materials, energy, and water efficiencies, they could gain a price advantage and attract customers away.
Using the above very conservative assumptions to quantify potential percentages of revenue at risk and the probabilities of this happening in the next three to five years, these five risks could put $20,250,000 of the company’s current $500,000,000 of revenue at risk. That is about 4% of its revenue. That’s huge. This methodology yields similar results, regardless of the company / size.
Convincing a company executive to fully embed sustainability into its strategies and operations therefore requires a compelling two-part business case. This case must include the risks of what might happen if the company does not take action, as well as the benefits it can reap if it does.
In my last two blogs, we looked at how company sustainability efforts can help generate more revenue because of its enhanced brand image as a responsible corporate citizen, as well as more revenue from new products and new markets. This week, we will look at additional revenue from selling services and leasing products.
In my last blog, we outlined how companies can gain more Business-to-consumer (B2C) and business-to-business (B2B) revenue from a more responsible company brand. This week we will look at a second way that sustainability strategies bolster revenue: the green attributes of the company’s products and services become differentiators.
Tweet People buy from companies they trust. More and more, customers prefer to do business with companies that are doing good things and are responsible. The responsible image of the company builds loyalty with customers who identify with the values of the company – their loyalty is more to the company than to its products. [...]