The common thread of consumption and production

These three crises are closely linked, and driven in large part by unsustainable production and consumption. The International Resource Panel has consistently reminded us that our relentless extraction of resources is devastating the natural world.
We have intensified agriculture, expanded infrastructure and extracted resources – altering 75 per cent of the planet’s ice-free surface.
Travel and transport have erased distances while emitting huge amounts of carbon dioxide and particulate matter.

The green economic recovery cannot succeed without the full engagement of the private sector
In particular, the private sector needs to be fully engaged. Business has a critical role to play as a source of finance, a driver of innovation, and an engine of economic growth and employment.
Businesses must realize they can no longer pollute their way to profit. Economy is environment, and environment is economy. To emphasize this, let me remind you of the World Economic Forum’s messages from earlier this year.
Around half of global GDP is dependent on nature and its services.
Business leaders identified the top five global risks for the next ten years as environmental: climate change, loss of nature and pollution high among them.
Business in India has shown great leadership on sustainability. India ranked 5th among countries surveyed for corporate commitments to science-based targets by the Carbon Disclosure Project (CDP) in 2019[ii], which shows that investors are demanding better disclosure of climate change risk from Indian companies.
Industry leaders across sectors in India have made significant efforts at promoting clean and efficient energy, water and waste management, creation of green supply chains and promoting the concept of circular economy. We need such initiatives to become more broad-based and also spread to the medium, small and micro enterprise level.

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