What Drives Sustainability Trends in Business?
<p>While many factors drive the current sustainability trends in business, the following examples showcase three of the main contributors that are likely to play a crucial role throughout 2022.<br /> </p> <p style="margin-left:40px"><strong>1. Regulation</strong></p> <p style="margin-left:40px">There is no standard global agreement currently to regulate corporate sustainability, but certain countries or regions have implemented environmental laws. Specifically in Indonesia, the government has implemented the development of a system so that financial institutions are environmentally friendly as mandated in Law Number 32 of 2009 concerning the protection and management of the environment.<br /> <br /> Globally, the UN’s Sustainable Development Goals, encourage companies to adopt sustainable practices and to integrate sustainability information into their reporting cycle. In Indonesia, sustainability reporting is mandatory in accordance with:</p> <ul style="margin-left:40px"> <li>Presidential Decree of the Republic of Indonesia No. 59/2017, the realization of Sustainable Development Goals.</li> <li>Regulation of Financial Services Authority No. 51/POJK.03/2017, application of sustainable finance to financial services institutions, issuers and publicly listed companies.</li> </ul> <p style="margin-left:40px">MRI predicts a future where sustainability is more state-regulated and has a set of guidelines to help businesses navigate sustainability agreements. Current compliance laws hint at the possibility of a global agreement setting minimum acceptable levels of business sustainability. Even China, the world's largest source of greenhouse gas emissions, is actively enforcing a growing set of comprehensive environmental regulations. </p> <p style="margin-left:40px"><strong>2. Industry Standards</strong></p> <p style="margin-left:40px">There are over 400 sustainability standards relating to environmental issues that your business could voluntarily adopt. Industry standards allow consumers to make informed decisions and select sustainable products or services. Associations such as <strong>Fairtrade</strong> and <strong>Rainforest Alliance</strong> can assure your customers that your organization follows green business ethics and certified sustainability initiatives. As the popularity of sustainable options continues to grow, more businesses and industries will opt for more standardized programs.</p> <p style="margin-left:40px"><strong>3. Social Pressure</strong><br /> Advocacy for sustainable practices continues to gain traction with the public, with 85% of global consumers making more sustainable purchasing decisions over the last five years. One-third of Millennials stated that they are willing to pay more for sustainable products or services. Younger generations are driving change by demanding more sustainable options, and your business can meet that demand.</p> <p style="margin-left:40px"> </p> <p><strong>Find Partners to Innovate in Sustainability Trends</strong><br /> Businesses without sustainable development goals are at a very disadvantageous position in today's market. Environmental practices open doors to new opportunities and offer great benefits to our society and planet. With the right approach, a sustainable business can meet and exceed the profitability of less environmentally conscious competitors.</p> <p>If you need help connecting with sustainable partners, Moores Rowlands Indonesia can help, as we bring together startups, partners, and experts to develop new approaches to environmental business practices. Our accelerators drive innovation in all areas, including sustainability, which provides a unique opportunity to amplify your business impact through collaboration.</p> <p>Moores Rowlands Indonesia offers a full range of professional services including audit, sustainability, accounting, outsourcing, tax, advisory and legal services for a wide variety of clients across the spectrum of industry sectors. With our unique approach, we have the proven expertise and experience to help your organization to develop. Through our technical excellence combined with personal commitment, we deliver tailor-made solutions to you, whether you are a listed or large corporation, a public sector organization, an owner-managed business, or a private individual.<br /> <br /> We have two representative offices in Jakarta and Bali. For more detailed information please contact us at: <strong>email@example.com</strong> or <strong>firstname.lastname@example.org</strong>. <br /> <br /> <a href="https://www.linkedin.com/in/stefaniwikaa/" style="box-sizing: border-box; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; color: inherit; text-decoration-line: none; font-family: "Open Sans", sans-serif; font-size: 14px;"><span style="font-size:10px"><em>**By: Stefani W. Anggraeni — Marketing Communications & Social Media Specialist</em></span></a></p>