Capitalism’s reward of profitability is craved by business and individuals across the globe. However, with the rise in the need for sustainability, businesses find themselves at the tea point of a crucial transition.
The inception of capitalism was met with warmth by the wealthy. By exploiting the lower strata of society, businesses were able to churn out profits at an extraordinary rate. The production of such profits created a ritual, followed by companies, to this date. With merits of profitability being fed to working businesses, it is hard to imagine a world without exploitation.
Due to the presence of an inherent system in place, it is hard for companies to transition into any other landscape. However, market demand has urged the companies to take this risk and employ a possible discourse from their traditional approach. For this risk to succeed, companies need to strike an intricate balance between profitability and sustainability. Something difficult to mount.
Search for traditions in transition
While global companies experience this transition to sustainability, their traditional values to seek profit in their endeavors remained untouched. Thankfully, governments have come forward and provided certain incentives for companies to make this crucial change. Not only are these companies expected to be aided by governments, but they are also expected to absorb the gains of a rise in customer demand.
The introduction of carbon markets is something that the companies inspect with awe. Carbon markets are trading system within which carbon credits can be sold and bought. Governments provide companies with certain environmental goals to complete. This includes the number of carbon emissions a company is allowed to reach within a year.
If a company produces less carbon emissions than their assigned target, then they earn carbon credits. These carbon credits can then be exchanged with the government in return for certain incentives or they can be sold to other companies who have surpassed their carbon emissions and have the option to buy these credits to account for their additional emissions.
With the implementation of such a method in the corporate world, companies can maintain a steady flow of profits while still maintaining their promises to sustainability. While these systems are important, business should also make an effort to integrate values of sustainability into their core values. This enables companies to showcase their commitment and attract consumers drawn to the practices of sustainability.
A necessary path
The interwoven principles of profitability have governed marketing practices ever since the introduction of industrialized markets. Industrialization amplified the already existing problem of exploitation and tied it with an attractive economic incentive. Sustainable integration in business does not only stand for environmental benefits but rivals long standing suppression as well.
With sustainability expectantly intersecting capitalism, profitability has the potential to adopt a new meaning. The erasure of environmental problems needs to be accompanied by the adoption of workplace ethics. If the success of such a transition is ensured, an unexpected yet welcoming transition within the lower strata of society can be corroborated.