Embrace sustainability for growth

THE INSTITuTE for Sustainability Africa (INŚAF) which deals with people, planet and profit also known as Triple Bottom line has urged the business community to embrace sustainability to nurture business growth.

INŚAF chief executive Rodney Ndamba said this at the Institute of Chartered Accountants of Zimbabwe (ICAZ) conference held at Elephant Hills Hotel in Victoria Falls recently.

Ndamba said businesses should consider sustainability to cultivate business growth.

He said the concept was that the convergence between people, planet and profit brought out the concept of Sustainability underpinned by the principle of efficiency and effective utilisation of resources for sustainable developments.

“Sustainability now anchors economic models of sustainable and competitive emerging economies like Singapore, South Korea, Vietnam, Thailand and malaysia. leading that does not focus on financials only but integration of economic, environment, social and governance aspects in operations and decision-making”.

He listed the following as some of the potential implications for Zimbabwe and the business sector:

Exports failing to access high value inter•national

markets because of high sustainability standards requirements;

•High cost of capital, borrowing and insurance premiums to cover sustainability risks;

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International investment pressure; over or under valued businesses; and

•

Board sustainability pressures.

Ndamba said “let’s consider the history we are leaving for the next generation as transient caretakers in planet earth”.

He concluded his presentation by quoting Warren Buffet, who said: “It takes 20 years to build a reputation and five minutes to destroy iit. If you think about that you will do things differently”.