This indicator could potentially make all firms sustainable

Before confusion settles in about the title, allow me to provide context for the debut blog of the BS blog.

I wrote the following comment in the Comment & Win Contest hosted by the Wharton School of the University of Pennsylvania during my summer program there. This comment is based on the article "Does Business Have an Ethical Responsibility to Help Save the Planet?” and I later won a prize.

I just had a thought. In Singapore, where I currently live, there's a label on the front of beverage product packaging called Nutri-Grade. It shows how much sugar is in a beverage on a scale from A (least sugar) to D (most sugar). The idea behind this label is to encourage consumers to choose drinks with less sugar by making it easier to see the sugar content.

An alternative measurement that reflects the negative environmental effects of a product's production in terms of carbon dioxide emissions could prove useful. This measurement could use the same A-D scale as the previous indicator.

By adding an environmental indicator to product packaging, consumers would be informed about the level of harm the product causes to the environment. This may cause some consumers to feel guilty and discourage them from purchasing certain products. Furthermore, the societal trend of having a good carbon footprint may also discourage the purchase of certain products. As a result, there would be a decrease in consumer demand for goods that emit more carbon dioxide during production and an increase in demand for goods that emit less. This would incentivize firms to adopt more sustainable production methods in order to remain competitive in the market.

This thought struck me while reading the article and I wanted to share it, but I want to emphasize that this is not a pitch. I believe that having an indicator that publicly displays the brands that do not prioritize sustainable production practices could help address the issue of companies neglecting environmental concerns.

Fateh

Click here to access the full Wharton Global Youth article.

If you have read this far, you have reached the end of the first official business blog.

Signing off,

Faztick

See you at the top.