Sustainable Development includes meeting immediate challenges along with securing resources for future generation. Realizing the importance of sustainable development in industry area, PricewaterhouseCoopers have developed a general report catering to the various trends that will witness advancement in sustainable development.
PWCD has identified the major six trends as global market forces, high-speed innovation and revisions in corporate governance, large-scale globalization, effective communication, and the evolving societal requirements.
PricewaterhouseCoopers has come up with a report on six major countries, highlighting their unique trends that will drive sustainable development. Europe, with its consumption-based economies, is aiming to achieve greater efficiency level with reduced environmental impact, so as to develop more sustainable strategies and practices. Not only the public sectors, even the private sectors are asked to adhere to proper governance, ethical manners, appropriate risk management, personal responsibility taken up by directors and a high level of transparency report.
The report by PWC claims that over 80% of energy demand in US is satisfied by fossils fuels that are mainly imported from foreign nations. The market for sustainable goods and services was neglected due to its small size. Recent trends saw corporate America taking active participation to corporate social responsibility, along with NGOs and stakeholders. All the major multinational companies doing business transactions in China need to know the regulatory requirements of China. They are to address the deficit in understanding of sustainability issues among local organizations. Managing individual corporate reputations in home markets while operating in a country where there is low environmental and labor standards is essential.
In spite of India's rapid economic growth, uneven consumption is prevalent due to the wide income gap between the rich and the poor. Even the individual private sectors require better exposure and access to credit and capital in the international arena. The report states that a closer alignment of private investors and stakeholders, and also a better corporate governance as means of improving sustainable development. Africa needs to adhere to corporate responsibility strategies, risk controls, monitoring systems, and reporting mechanisms in order to trail the notion of sustainable development.
According to PricewaterhouseCoopers' report, Latin America is in need of political stability, high level of transparency, and good credibility for sound sustainability strategies. By accumulating such facts for the report and providing possible way outs, PWC serves an example of how the Big Four firms are aiming for sustainable development for a secured world.
For more articles please visit :
http://www.big4.com/Big4newsletter.aspx
