MBS 662 - Business, Society and the Environment Assessment 2: Individual Essay 20% On September 25 th 2015, countries around the world adopted a set of goals to end poverty, protect the planet, and...

Running Head: MBS 662 - BUSINESS, SOCIETY AND THE ENVIRONMENT    1
MBS 662 - BUSINESS, SOCIETY AND THE ENVIRONMENT     15
MBS 662 - BUSINESS, SOCIETY AND THE ENVIRONMENT
ASSESSMENT 2: INDIVIDUAL ESSAY
CHOSEN TOPIC A— HOW MIGHT BUSINESS BENEFIT FROM AN UNDERSTANDING OF THE SUSTAINABLE DEVELOPMENT GOALS (SDGS)?
Table of Contents
Introduction    3
Sustainable Development Goals (SDGs)    3
Relation of SDGs to Business    5
$12 Trillion Market Opportunity    5
SDGs as a Trigger for ‘Innovation’    6
Reduced Investment Risk    7
New Business Solutions along with SDGs    7
Innovation Journey of One Year Supported by UNDP    8
Opportunities Favored by the Economic System    8
Information Technology (IT) Industry – A Catalyst for towards ‘Sustainability’    10
SDGs – Maintaining the Long Lasting Healthcare Sector    11
Conclusion    12
References    14
Introduction
    Brundtland’s Commission defines sustainable development as the way of ensuring the availability of resources to the other people in the future so that both the present and future generations do not have to compromise on their usage. The limited availability of resources has led to the introduction of this concept, this concept is misunderstood in terms that it implies some limits but when a different horizon is explored, these are not absolute limitations instead the present state of technology has led to this. However, as the major question remained was what is to be sustained, the US National Research Council in 1999 answered this with the identification of three major categories— nature, community and life support systems as well as some intermediate categories such as Earth, environment, and culture (Voegtlin & Scherer, 2017).
Sustainable Development Goals (SDGs)
    Sustainable Development Goals (SDGs) are a modified implication of this concept, as mentioned by Hak, Janouskova and Moldan (2016); the idea of global goals initially was presented by governments of Colombia and Guatemala and was officially introduced at Rio +20 conference. As defined by the United Nations Developmental Program (UNDP), Sustainable development goals are a universal call of action with an approach to end poverty, protect mother earth and ensure people that they are able to enjoy prosperity and peace. In other words, SDGs can be defined as the blueprint to achieve a better and more sustainable future for all. SDGs came into effect on January 2016 with 17 global goals that are listed as—
i. No Poverty,
ii. Zero Hunge
iii. Good Health and Well-Being
iv. Quality Education
v. Gender equality
vi. Clean Water and Sanitization
vii. Affordable and Clean Energy
viii. Decent Work and Economic Growth
ix. Industry, Innovation and Infrastructure
x. Reduced Inequalities
xi. Sustainable cities and communities
xii. Responsible Production and Consumption
xiii. Climate Action
xiv. Life Below Wate
xv. Life On Land
xvi. Peace, Justice and Strong Institutions
xvii. Partnership for the Goals (Hajer et al., 2015).    
Sustainability is everybody’s business and businesses are a major influence in achieving global sustainable goals. Not only this, with the implementation of these goals, it becomes a factor of legal issue for the companies to a
ange or modify their cu
ent policies accordingly in order to continue with the pertained success. Moreover, there can be certain factors that can help business in order to boost their cu
ent growth even by committing to the SDGs.
According to a report presented by Business Commission (2019), there were some contradictions presented from the companies regarding the implementation of SDGs and that these may lead to downfall in some areas of corporate sector. However, a contradicting study was proposed by Gold Standard in 2017 where they found that 82 out of 100 blue chip companies demonstrated commitment to the SDGs either in their annual reports of 2016 or via explicit statements regarding the goals or actions that provide supporting role to these goals (Gold Standard, 2018).
Relation of SDGs to Business
Beside the arguments presented against the SDGs, Business Commission presented views that are really effective and impressive based on previous and cu
ent studies. Brundtland’s Commission Report was the first that suggested the concept of sustainability but with the course of time and globalization and increasing population crises, the development model is failing which, can be explained with an example that fossil fuels were expected to last for a longer period than the timeline suggested today (Business Commission, 2019). However, due to uncontrolled population and u
anization the use of fossil fuel remain no longer sustainable. Besides, with a
oader view, world’s cu
ent economic model id deeply flawed.
Corporate ambitions and vision has always been set to increase and some companies are already recognizing the need for creating stability in order to operate economies according to the limitations set by the SDGs. As suggested by Dyllick and Muff (2016), there are a number of tools that have been suggested by the SDGs so that the implementation of limits and proposals should not be a hindrance in the cu
ent growth of the companies. SDGs also suggested some key aspects that are essential and really beneficial for the businesses in order to maintain growth.
$12 Trillion Market Opportunity
SDGs suggested an overview and promised some significant rewards for the companies that invest in the SDGs policies. There is a clear vision from the SDGs that they can lead to creation of more than 380 million jobs and can unlock an opportunity for a global economic increase of $12 trillion dollars by 2030. A study done by conference board including 12 major companies such as Phillips, Toshiba, DuPont and many more showed that revenue generated from sustainable products between 2010 to 2013 was found to be 6 times higher than the rate of overall company revenues. Study also suggested that corporate giants like when invested in sustainability, corporate giants like ‘Unilever’ also observed a 30% increase in the business due to sustainable products and services when compared to rest of their business (Junge, 2018).
It has been found that 60 opportunities made by investment in the SDGs in food and agriculture, energy, cities and material and health-being could also generate more than 380 million jobs or at least work or jobs for about 10% population in 2030. Not only this, major factors that may lead to increase in the work force and working potential would be,
· Increased health and better education
· Reduced social inequality and environmental stress
· Lowering business risk
· Multiplied returns on investment
SDGs as a Trigger for ‘Innovation’
Opportunities needs...