PwC on Advancement of Sustainable Development

PricewaterhouseCoopers have come up with an optimistic and logical analysis on sustainable development. PWC is expecting a marked advance in sustainable development with due emphasis on six major trends that is likely to sway the balance in the report's favour. This challenge of creating strategies that will satisfy the immediate requirements without forfeiting the future generation needs will be motivated by the sway of the six trends.

One of the six major trends involves the growing influence of global market trends instead of government policy. Due to constant rising demand amidst low supply, and the various changing patterns of demand for natural resources, the markets will have a bigger influence in decision making. Another major trend that is likely to improve sustainable development is the revision in financial model that is used to place corporate and government policy. This advanced model will feature new scenarios, new risk factors, along with various non-financial and intangible factors.

Innovation, mainly in core industry, is the third major trend. Various changes in behaviour, supply chains, product design, geopolitical structures and technology will be observed due to changing economic conditions. Globalization has been sited by PricewaterhouseCoopers as one of the major trends that is likely to bring advancement in sustainable development. All the global policies will be framed and formulated by renowned international institutes. Thus, it will limit the role of national and local institutions to implementing those policies.

PWC points out that it is evolution, and not revolution, that will bring a marked change in sustainable development. Communication, identified as the sixth major trend, will include the influence of global media in focusing on primary issues of governments and industries. This procedure will hasten the pace of transformation in policy and behaviour. By predicting such marked improvement in sustainable development, backed by effective strategies and policies, PWC highlights how the Big Four firms are participating in improvement programs for the general upgrading of industry standards.