WRITTEN BY DR MARTIN BRUECKNER BUSINESS PERSPECTIVE Going green... or bust? ENVIRONMENTAL CHANGES ARE ALREADY AFFECTING BUSINESS AS WE KNOW IT, CAUSING MAJOR HEADACHES FOR COMPANIES. IN FUTURE, ACTIVE ADAPTATION TO THESE CHANGES WILL BECOME CORE BUSINESS. THERE IS NO BUSINESS CASE, HOWEVER, FOR CONTINUED IGNORANCE. Confusion reigns supreme among Australian businesses. What is all this environmental talk about and why should we care now? Not too long ago, the environment was chiefly the domain <strong>of</strong> social fringes with alarmist scientists and pot-smoking hippies making an awful lot <strong>of</strong> noise about the protection <strong>of</strong> Mother Earth; certainly a mob with rather limited boardroom respectability. Politically, in the past, the environment was largely perceived as an expedient tool in Australia readily deployed when marginal seats and swinging votes needed capturing during state and federal elections. In times <strong>of</strong> big business and small government, companies did not need to worry since, after all, ‘growth or else’ was the order <strong>of</strong> the day. This seems to have changed somewhat. Inconvenient truths about the environmental state <strong>of</strong> play have started to infiltrate the homes <strong>of</strong> unsuspecting, hard-working Australian families, subversively changing public sentiment towards the environment. Australian mainstream media metamorphosed overnight to become the vocal crusader for environmental causes. These days, the carbon police are now out to get those enjoying atmospherically counterproductive lifestyles, which until recently represented the elusive golden pot at the end <strong>of</strong> the rainbow for aspirational battlers. Of course, we have heard it all before. Over 30 years ago, we were already being told that resources would run out, the planet would turn toxic as humanity drowned in its waste and ran out <strong>of</strong> living space. And? Nothing happened. We are still here and the air still smells fresh, albeit things are a little warmer. But, apparently, the future will be a lot warmer because <strong>of</strong> the way we have been REVIEW IS PUBLISHED BY CURTIN UNIVERSITY OF TECHNOLOGY. MATERIAL CONTAINED IN REVIEW MUST NOT BE REPRODUCED IN WHOLE OR IN PART OR IN ANY MANNER WHATSOEVER WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDERS AND/OR THE EDITOR. ALL REASONABLE EFFORTS HAVE BEEN MADE TO TRACE COPYRIGHT HOLDERS OF MATERIAL PUBLISHED. doing business and the lifestyles we have worked hard to get accustomed to. Polemics and cynicism aside, the science <strong>of</strong> environmental change is out <strong>of</strong> the bag and is finally having traction both socially and politically. The business environment has changed as a result, and early movers in the business world have started to seize the moment, capitalising on going ‘green’. They are busy future-pro<strong>of</strong>ing their brand and shareholder value against environmental and regulatory shocks while the competition looks on in bewilderment. The likes <strong>of</strong> Stern, Garnaut and company make a compelling case – using the universal language <strong>of</strong> economics – that business as usual will not only cost the planet but, even worse, put GDP under acute threat. This challenges dearly-held conventional wisdoms, and it seems that what we did not want to know may come to hurt us after all. Where does that leave Australian businesses and many <strong>of</strong> our business students eager to have a go in the real world? Bill Clinton suggested last year, when promoting the Carbon Disclosure Project,that the colour <strong>of</strong> America’s future will be that <strong>of</strong> the US Dollar. The same applies to Australia’s future despite its admittedly more colourful currency. Business will either go green or be forced to make costly adjustments once regulation starts to bite. Environmental markets evolve quickly, and businesses need to evolve with them. Carbon, for instance, is well poised to become our new unit <strong>of</strong> account, and companies’ carbon exposure is likely to affect their future competitiveness and attractiveness to investors. Business graduates, in this regard, require the tools to anticipate and effectively manage THE VIEWS EXPRESSED IN REVIEW DO NOT CURTIN WILL NOT BE LIABLE TO YOU OR TO ANY NECESSARILY REFLECT THOSE OF CURTIN UNIVERSITY OTHER PERSON FOR ANY LOSS OR DAMAGE OF TECHNOLOGY. CURTIN ACCEPTS NO RESPONSIBILITY (INCLUDING DIRECT, CONSEQUENTIAL OR ECONOMIC FOR AND MAKES NO REPRESENTATIONS WHETHER LOSS OR DAMAGE) HOWEVER CAUSED AND WHETHER EXPRESS OR IMPLIED AS TO THE ACCURACY OR BY NEGLIGENCE OR OTHERWISE WHICH MAY RESULT RELIABILITY IN ANY RESPECT OF ANY MATERIAL IN DIRECTLY OR INDIRECTLY FROM THE USE OF THIS PUBLICATION. THIS PUBLICATION. this evolution. Also, a better understanding is needed <strong>of</strong> business-environment relations and the way society as a whole responds to changes in environmental systems. As uncomfortable as the environmental outlook may be, we need to know and be open to these messages as a blinkered approach is likely to prove maladaptive and costly. Where to from here? Start with bringing your own cup when buying a c<strong>of</strong>fee on campus to reap the economic benefits (a $0.30 discount) <strong>of</strong> a widely unknown waste reduction strategy already in place. See, ecology and economics can go hand in hand… we just need to know about it. Contact: Dr Martin Brueckner Email: m.brueckner@curtin.edu.au Business as usual will not only cost the planet but, even worse, put GDP under acute threat. Guest columnist Dr Martin Brueckner recently joined the School <strong>of</strong> Management at <strong>Curtin</strong> Business School as a lecturer on environmental issues in business. His teaching and research interests are in the areas <strong>of</strong> sustainability management, environmental policy and corporate social responsibility as well as social and environmental justice issues. REVIEW IS PRINTED BY GEON ADVANCE PRESS USING VEGETABLE-BASED INKS AND ENVIRONMENTALLY FRIENDLY PROCESSES. GEON ADVANCE PRESS HAS GREEN STAMP ACCREDITATION. © CURTIN UNIVERSITY OF TECHNOLOGY. CRICOS PROVIDER CODE 00301J. THE SYDNEY CAMPUS OF CURTIN UNIVERSITY OF TECHNOLOGY CRICOS PROVIDER CODE 02637B. review JUNE 2008 CURTIN BUSINESS SCHOOL 11
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