The experts assert that to realize financial, social and environmental prosperity, the entire system must be ‘reoriented’ to encourage businesses to change their current models, go beyond incremental improvements, and collaborate.
“The circular economy is a concept that is pro-business and pro-growth but it’s about driving a different kind of growth – a growth that innovates for customers, and eliminates wasted and harmful materials. It’s based on the idea of using assets more effectively, closing loops, extending product lifecycles, while not cannibalising business,” Peter Lacy, the Managing Director of Accenture Strategy, says in the film.
He suggests that no matter which environmental metrics you consider, whether ocean health or biodiversity or carbon, “globally, we’re heading south,” which merits the need for systemic change. “It’s not to say that there [aren’t] benefits from making incremental progress – small shifts in energy efficiency, corporate responsibility policies on the edge of business – it’s not to say that there’s anything wrong with that in and of itself, but it’s not the ‘True North’ we’re talking about,” Lacy explains in the film.
“‘True North’ is about actually reorienting the entire system so that it rewards and incentivizes business that – at the core of their strategies, at the core of their business models, their global supply chains – that they’re embedding the principles of fairer growth, of more sustainable growth, of responsible growth, and doing well and doing good.”
Read more on Sustainable Brands