Climate change was already a big issue for the world to worry about, and now it seems it has finally caught the attention of the ones behind it. Businesses are now re-designing their strategies to conform to the norms laid out by the government for emission capping, and for the target to reduce it to net-zero by 2050.
Tighter regulations, stricter norms, and high-levels of scrutiny on emissions have always accosted businesses across the globe. However, with increased climate outrage that witnessed millions of people on the street demanding unrelenting action, the industry seems to be overwhelmed with all the heat surrounding the subject. All of this has led to anticipated corporate activism which may or may not turn out to be a game-changer.
The private sector has the capability to destroy the planet, as well as replenish it. Although there has been a significant greenwashing if you look closer, you can actually see the difference.
More than 100 multinationals, from Pepsi, Coca-Cola, Ikea, and L’Oréal, HP and IBM have announced targets to limit global warming to 1.5C. Even heavy emitters like Maersk, the world’s largest shipping company, India’s Dalmia Cement and Mahindra Rise, are laying down solid foundations to tackle climate change which looks more promising than before.
However, the change is welcomed and appreciated, but the pace at which the climate is changing, we cannot wait for individual companies to embark on their own separate sustainable journeys. Transforming endemic corporate behaviors that are destroying the planet requires more hands to come together, and fast. For this, we certainly require aggressive industry-wide coalitions for change.
The question is, which industries are suitable for this collective action?
Consumer industries sit perfectly for this sort of collective action. These industries are at the forefront of a new form of accountability, where “climate aware” customers demand more responsible standards. Moreover, the tourism and food industry are under the spotlight every other day and should come together to devise solutions to tackle flight-shaming.