Corporate Sustainability Has Failed: Digitizing Regeneration May Still Save Us
Posted November 10, 2021 in Business Technology & Digital Transformation Strategies, Data Analytics & Digital Technologies Cutter Business Technology Journal
Simon Schillebeeckx proposes a focus on regeneration as a way for small carbon footprint firms (e.g., consulting, financial services firms) to make a positive sustainability impact. He highlights that service industry firms can proactively contribute to the regeneration of common pool resources, such as forests and lakes, which often become neglected or overused. What makes regeneration different compared to more traditional donations to a conservation nonprofit is the use of digital technology that enables an organization to lay claim to the ecosystem benefits it generates through its support. The digitization of benefits claims provides a transparent accounting system for environmental benefits. Schillebeeckx explains how transparency and accountability can lay the foundation for firms to work together to preserve and restore common pool resources.
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