Thursday, January 29, 2009

'Environment' - the term for this century

Becoming more and more convinced now that for future businesses, having an environment friendly business-model is imperative. These feelings were in my head somewhere but have been intensified by the Environmental Management class I'm taking this quarter. Just read a case on British Petroleum (BP) and how they decided to associate themselves with the green cause before it was imposed upon them through regulation. It must have been a very difficult decision for them especially given the fact that the US was not (and still hasn't) ratifying the Kyoto Protocol.

They say fortune favours the brave and I think the businesses going forward do not have any other option but to be bold in this direction. The shareholders would need to understand and obviously the companies would be required to educate them. But there doesn't seem to be an option not to be thinking and acting in this direction. The environmental impacts of the way we do business have to be considered. The deterioration of the climate is a very serious concern. There have to be measures taken and stricter laws imposed in this regard. It's a question of our future generation.