Responsible Business for People and Planet

RESPONSIBLE BUSINESS
FOR PEOPLE AND
PLANET

TABLE OF CONTENTS
INTRODUCTION & BACKGROUND..........................................................................................3
MAIN BODY..................................................................................................................................4
Impact of business in society with regard to climate action goal................................................4
Responsible business and sustainable development goals...........................................................6
Role of government, NGOs and consumers in a society.............................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION & BACKGROUND
Sustainable development goals are the blueprint to achieve a better and more sustainable
future for all and are collection of 17 interlinked goals. These are also known as global goals.
The purpose and structure of the report will include key global challenges with reference to
United Nations sustainable development goals (DU, C.R., 2016). Role and ethics of business in
society with regard to the chosen goal. Also, responsible business will be defined and why
responsible organization respond to the sustainable development goals. Lastly comparing and
contrasting the role of government, NGOs and consumer in society will also be briefed upon.
The sustainable development goals have been adopted by all the member states of the
United Nations, for the purpose of a universal call to action for protection of planet, ending
poverty and ensuring that everyone enjoys prosperity and peace by 2030. All the 17 goals are
integrated to maintain a balance of the three pillars of sustainable development. One of the goals
identified for the purpose of this essay is the UN sustainable development goal of Climate
Action, which is aimed at taking action for combating climate change and its impacts (Biermann,
Kanie and Kim, 2017).
The three pillars of sustainable development are social, economic and environmental
goals and also denote the idea of a socially responsible investment. The three pillars are also
known as people, planet and profits (Wilkins, 2008). The social pillar requires support from all
stakeholders, employees, community whenever the goals are being implemented. It takes care of
employees working conditions and remuneration, effect on supply-chain, community
engagement etc. The social challenge that underline this goal is if the people of the locality or
region are cooperative then the goal can be implemented effectively. Economic pillar addresses
the profitability of the businesses but is not about profitability at any cost. Under economic pillar
activities like risk management and corporate governance are addressed. Economical challenge
includes introduction of new technology to achieve this goal. The Environmental pillar consists
of the focus on reducing the carbon footprint, water usage, waste disposal, pollution and overall
affect on environment and planet. The environmental challenge underlying the goal of climate
Action determines that there is excessive environment degradation then this puts a challenge in
accomplishment of the goal (Dhahri and Omri, 2018).
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MAIN BODY
Impact of business in society with regard to climate action goal.
Businesses of all types and sizes including multinational for profits organisations and
small business at local level have tremendous impact upon society. According to Miklian and
et.al, (2018) the positive impacts of business on society is evaluated by maintenance and building
of social capital by the business through core functions like the provision of services and goods,
activities of maintaining supply chain, running economy and providing employment. However,
Liu, (2017) states that aspects that are negatively impacted are people and environment due to
outcome of business activities like pollution, corruption, destruction of habitat etc. certain
products produced by MNCs can have adverse health effects on consumers, and tend to damage
social capital whenever regulations are not imposed and can also impact physical and
psychological aspects of employees through negligence of human rights and labour laws, unsafe
working conditions and unequal treatment to people.
In regards to the climate action goal set by UN, multiple MNCs have addressed to the
sustainable development goals. According to climate action summit of 2019, 28 companies who
have a total market capitalisation of approximately $1.3 trillion (USD) have given a commitment
to increase the company ambitions by alignment of their corporate governance and sustainability
goals like emission reduction targets with the climate action goals (Arroyo, 2018). Although
MNCs have committed to the Climate action strategies, the impact is limited when it comes to
other businesses due to the cost saving, profitability structure, value chain, less support from
governments etc.
Sustainability spectrum of Tesco and Energy saving trust
Understanding sustainability requires integrating multiple perspective and investigate
methods to explain multi-dimensional concepts (Seager, 2008). Tesco comes in economic
sustainability spectrum because it is and Energy saving trust comes under social sustainability
spectrum. Climate change is affecting every country and disrupting national economies and
affecting lives. Weather patterns are changing, sea levels are rising and weather events are
becoming more extreme. This climate change is expected to impact the agriculture, forestry and
fisheries sector (Eizenberg and Jabareen, 2017).
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