Why Sustainability Quotient (SQ) the only way to save the world?

If you are hearing Sustainability Quotient (SQ)for the first time then don’t be worried because this is still not an established idea. Over the last few decades, there has been increased awareness among people, organizations, and countries on sustainability to diminish the environmental damages we are creating for our mother earth. But irrespective of massive campaigns and changes implemented we are still far from even stopping the misuse of our environment. Before we even talk about restoring the damages we humans created collectively it is vital to first stop damaging further. A single corporation or country can never able to change environmental damage unless every single person on this planet changes their lifestyle.

Demand and supply are driving our economy but the demand is not just created by people as a consumer. In most cases, new demands are constantly introduced by corporations so they can make more money. When consumers purchase a product not many willing to pursue green due to its inconvenience or cost factors. There is no nudge available for a person in the street to choose environmentally safe products. We neither penalize the people who misuse the environment with their bad choices. Collectively we as a society have no single platform to educate people on these matters and no easy way to track the buying index of a person to determine whether he/she helping or damaging the environment. Unless we have such a platform at the global level there is no way we can expedite our sustainability movement.

Sustainability Quotient (SQ) is a pointing system for every person on earth based on his/her purchasing/behavior pattern. When these SQ points are visible in social media then people are forced to transform their behavior. When that happens corporations can’t force their demand any longer. But it is vital to make sure this ecosystem is managed by an independent non-profit organization. Otherwise, corporations will get into greenwashing business.

In 2019 we have seen several initiatives of global corporations and financial institutions in the sustainability domain. I particularly liked H&M’s decision to test out a clothing rental service as the fashion industry faces environmental concerns over its contribution to waste and pollution. Though clothing rental service is not a new idea, this was never driven by a company of this scale. Hennes & Mauritz is a Swedish multinational clothing-retail company that operates in 62 countries with over 4,500 stores and as of 2015 employed around 132,000 people.

Talking about environmental concerns has become a big brand positioning exercise these days. I hope H&M’s test is not just a marketing campaign. Succeeding in this test is not just vital for them but the entire world. The world is watching their test with a microscope. Either way, this initiative will sure nudge other industries to rethink their practices at every level.

As a Permaculturist, I am always furious about environmental misuse. A few years back when I got this awareness I started challenging everyone who does the environmental damage. My keynote speech in the Mother-Earth movement about sustainability is truly taken my interest to the next level. But very soon I realized it’s futile to fight against govt and corporates who have a vested interest in revenue generation. That was the time I came across Bill Mollison who had started his journey similar to mine. His inspiration eventually led me to complete my Permaculture design course.

Today the Sustainability landscape is changing drastically with Sustainable Finance (SF). Sustainable Finance is a 28 Trillion dollar industry. This is a truly glorious time for the sustainability movement and I am confident we as humans can finally revert the damage we instilled on mother earth.

Sustainable Finance(SF):

Sustainable finance refers to any form of financial service integrating environmental, social and governance (ESG) criteria into the business or investment decisions for the lasting benefit of both clients and society at large. SF can be implemented in many forms like Blended Finance, Impact Investing, Microfinance, Active ownership, Credits for sustainable projects and development of the whole financial system in a more sustainable way.

Blended Finance:

Blended Finance takes development, concession or philanthropic capital from a donor or a charity foundation and blending it with commercial capital. This will give a significant additional dollars for sustainable project investment. So next time if you want to donate your hard-earned dollar you would rather invest in Blended Finance as it will stretch its use.

Green Labeling:

Financial Institutions are taking the lead in nudging the corporates in this journey by marking them and their products as ‘green’. This corporate trend has given the ethical obligation to every corporation to be part of this bandwagon. H&M is just doing its part with this announcement. This is a double-edged sword; as much as brand value gain they get with the success they have an equal risk of losing their credibility.

Green Giants:

The traditional perception of sustainability and business are competing agendas that are not true anymore. Adidas and several other companies made their billions by doing what is right for the environment. Their “counter-intuitive” and “make-it-better” strategies truly rewarded them. I am personally interested to see Airbnb, Patagonia, Honest Company, Method Home, Worby Parker, Sweet Green to make their billions soon to set a new standard for the industry. “Green doesn’t sell” is not true anymore.

“Why” we need to be sustainable is clear to everyone but “how” is a big open question. Sustainability Quotient (SQ) is the only way for this massive and complex problem. Looking forward to seeing someone implement this on a global scale. We as consumers need to be responsible in our lifestyle choices, recognise and reward green giants. Are you ready to do your part?

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