With the increased focus on finding new growth models that are more sustainable and inclusive in nature, Imperial College London has taken the lead in bringing together researchers and stakeholders from around the globe to help identify corporate, financial, and social improvements that benefit business and improve society. Its Leonardo Centre on Business for Society has emerged as a global laboratory, which aims at connecting 15 research centers, 150 scholars in 60 universities around the world, and experts from business, science, and finance, for experimentation and innovation to attain carbon neutrality.
Huge Contributions
What makes the center unique is its machine learning-enabled dataset for real-world collaborative experimentation with businesses and institutions on corporate sustainability behavior. This facility allows the study of millions of initiatives across all sectors and countries as part of the sustainable development goals (SDGs) promoted by the UN. Understanding actions companies undertake in line with their commitment to environmental and social sustainability can help develop business enterprise models that ensure holistic growth.
Moreover, the center will involve companies to carry out real-world experimentation of innovative approaches to help them become sustainable enterprises. Various pilot projects will test new governance structures, leadership and cultural models, strategic-decision processes, incentive and control systems, business models, and all other core elements of a business.
Another Ambitious Project
Imperial College London’s initiative is assuming greater significance with around 200 big financial institutions committing a total of $75 trillion to accelerate the transition to net-zero carbon impact by 2030. Environmental concerns are taking center stage in financial markets. UN Special Envoy for Climate Action and Finance Mark Carney says investors, banks, and other financial institutions will increasingly differentiate between companies with credible plans to reduce their carbon footprints.
This strategic plan is where Leonardo Centre will play a key role by providing its stakeholders with the necessary tools and knowledge to strike the right balance between fulfilling their environmental responsibilities and ensuring growth. The center plans to involve nearly 200 companies and more than 100,000 managers in sustainability change interventions over the next ten years.
Imperial College’s Global Development Hub also plans to engage with the United Nations Sustainable Agenda 2030 and prepare for sustainability challenges that might arise 20, 30, or 50 years into the future. The ambitious project will do more than create better businesses, and through its research, education, and engagement, it will drive ideas that transform lives and lead the transition towards a sustainable future.
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