Don't Let Sustainability Be the Victim of a Recession
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Sustainable Business Integration

Don't Let Sustainability Be the Victim of a Recession

15 August 2022 / Article

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As the clouds of recession loom in Europe and elsewhere in many major economies, businesses should look to lessons learned from previous economic downturns—sustainability actions should be stepped up, not down, to help companies not only survive but thrive.

As the clouds of recession loom in Europe and elsewhere in many major economies, businesses should look to lessons learned from previous economic downturns—sustainability actions should be stepped up, not down, to help companies not only survive but thrive.

Insights for What’s Ahead

  • While profit making is not guaranteed for businesses during a recession, expect companies and investors to shift their focus to greater sustainability efforts. The key components of sustainability—making operations more efficient; reducing waste; communicating effectively with customers, staff, and supply chains; identifying risks; and devising strategies for the long term—will all lay the foundation for businesses to survive the tough times and grow as soon as conditions allow. Investors will increasingly seek business models that value sustainability strategies.
  • Recognize that the elements of a robust sustainability program can help during a crisis. At the outset, companies should assimilate UN Sustainable Development Goals (SDGs) into their culture. While sustainability disclosures and reporting contribute significantly to the process, the hallmarks of a strong sustainability

Authors

Anuj Saush

Anuj Saush Anuj Saush

Head, TCB Advisory International
The Conference Board

Read Bio

Catherine Early

Catherine Early Catherine Early

Research Fellow, Governance & Sustainability Cente…
The Conference Board

Read Bio

Manali Paranjpe

Manali Paranjpe Manali Paranjpe

Program Director, Governance & Sustainability Cent…
The Conference Board

Read Bio

Maksymilian Ludzinski

Maksymilian Ludzinski Maksymilian Ludzinski

Intern, Governance & Sustainability Center, Europe

Read Bio

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