Grappling with Sustainability
Retailers continue to invest in sustainability due to various factors in the face of the complex dynamics between shopping, consumption, and production and climate change. Some common sustainability attributes that retailers often prioritize include ESG (Environmental, Social, and Governance), Energy Efficiency, Waste Reduction and Recycling, Sustainable Supply Chain, Product Life Cycle and Social Responsibility. Other key factors that drive Sustainability include growing consumer demand for sustainable options, the need to enhance the brand reputation and attract eco-conscious customers, regulatory compliance and risk mitigation, potential cost optimization through sustainable practices, meeting expectations from stakeholders including investors and employees, and the recognition of long-term business opportunities arising from sustainable initiatives. By addressing these factors, retailers align themselves with global sustainability goals and proactively respond to the challenges of climate change.
Global Presales Head and Practice Director, TCS Digital Software & Solutions Group