The call for ‘new business models’ has grown increasingly loud when addressing sustainability issues. These models will determine how companies survive and thrive in a world of resource constraints and environmental impacts brought on by the current linear production model of extract, make, use and dispose. Rather than change this model, sustainability efforts have overwhelmingly focused on improving it, through efficiency enhancements, transparency along value chains and better final consumer information. Likewise, new sustainability product lines are emerging, but these do not effectively address the increasing consumption rates that fuel the situation.
It is well documented that we would need more planets to meet the trajectory of current resource needs. This calls for a refashioning of the business models that allow us to meet our needs and live our aspirations, such that they can address the climate, nature and pollution problems.
Business schools can play a central role in these agendas by training students to design and manage companies that serve purpose, not just profit. Business school students are demanding that their institutions play this role, as seen in the burgeoning of topics on Responsible Management Education (RME), Environmental Social and Governance (ESG) and sustainability-related topics more generally. Some schools are pivoting towards ‘responsible capitalism’ and see sustainability as a business case and driver of business model and product innovation. Some study sustainability impacts as risk drivers and embrace topics like impact investing. Thus far, these efforts are not yet the mainstream and many remain isolated or not yet coordinated within the schools’ broader disciplines like marketing or entrepreneurship. A major reason cited is the lack of consistent and coherent frameworks and examples that can be adapted to integrate sustainability into curricula.
UNEP’s Sustainable Lifestyles and Education Team has an ongoing focus on fostering the creation of sustainable living business models, working in tandem with institutions around the world to train students and faculty on the science behind lifestyles. The available resources include generic curricula, bibliographical materials, documented lessons learned and an annual symposium that reviews progress on new business models
As well, the Team has partnered with ESCP Business School to co-create the MsC in Sustainability Entrepreneurship and Innovation, designed for aspiring change makers who want to apply the tools of business to solving the world’s most urgent social and environmental problems. Whether students set out to integrate sustainability practices into a corporation, start their own purpose-driven companies, or anything in between, this MSc empowers them to drive change within teams, firms, and industries.
See what the students have learned in the Masters programme:
Watch a summary of 2022 UNEP-ESCP Symposium:
