Corporate sustainability has failed: Digitizing regeneration may still save us

• Main Author: Simon J.D. SCHILLEBEECKX
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2021
• Subjects: Business Law, Public Responsibility, and Ethics; Strategic Management Policy
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/7413; https://ink.library.smu.edu.sg/context/lkcsb_research/article/8412/viewcontent/Corporate_Sustainability_has_failed_CBTJ_pv.pdf
• Institution: Singapore Management University

The author proposes a focus on regeneration as a way for small carbon footprint firms (e.g., consulting, financial services firms) to make a positive sustainability impact. He highlights that service industry firms can proactively contribute to the regeneration of common pool resources, such as forests and lakes, which often become neglected or overused. What makes regeneration different compared to more traditional donations to a conservation nonprofit is the use of digital technology that enables an organization to lay claim to the eco­system benefits it generates through its support. The digitization of benefits claims provides a transparent accounting system for environmental benefits. Schillebeeckx explains how transparency and accountability can lay the foundation for firms to work together to preserve and restore common pool resources.