Harmonising profitability and sustainability to thrive in the new green era
Since its debut in the 1960s, the concept of environmental protection has transcended from a plea for action on climate change to a myriad of sustainability pursuits over the past few decades, reshaping the way we live and conduct business. While considerable progress has been made, new challenges are on the horizon.
According to the World Economic Forum Global Risks Report 2024, extreme weather events are predicted to be the greatest risk to humanity over the next decade. However, a recent study conducted by a global organisation found that only 21% of executives in the Asia Pacific region ranked climate change as a boardroom priority. Against the backdrop of looming economic and geopolitical headwinds, what lies ahead for sustainability?
To illuminate the path forward, Professor Sean Zhou, an international award-winning researcher in sustainable operations and chairperson of the Chinese University of Hong Kong (CUHK) Business School’s Department of Decisions, Operations, and Technology, joined alumni Harold Yip (BBA in Marketing 1987, EMBA 2001), a recycling pioneer and co-founder of Secure Information Disposal Services Limited and Mil Mill, and Chester Cheng (IBBA 2019), an intrapreneur and co-founder of a leading green lifestyle reward platform, Carbon Wallet, a subsidiary of MTR Lab, to discuss the difficult questions on how sustainability and profits can coexist.
The genesis of impact: cultivating sustainability from within
Maximising profits and optimising operations are inherently imperative for businesses, as boards are held accountable to their shareholders. While sustainability is important, green endeavours inevitably come with a price. Faced with this fundamental paradox, Chester believes that it is key for companies to identify the “sweet spot” between profits and sustainability.
