Unilever and Tesco: There is no future without sustainability

The need for a sustainable business model

The two business leaders agreed in their presentations at the Sustainable Retail Summit in London on 29 January that companies that want to survive in the next 20 years will have to behave responsibly towards the planet and adopt a healthier business strategy.

Murphy said: “The paradigm shift is that consumers expect businesses to behave responsibly, but they are not rewarded for it, but rather punished if they don’t.”

He added: “The mantra of the 1980s that ‘greed is good’ is outdated. Today’s business leaders are expected to balance the interests of all stakeholders: customers, employees, suppliers, the planet and shareholders.”

Government regulation and corporate responsibility

According to Schumacher, while companies need to be proactive, implementing sustainability regulations is primarily the responsibility of governments. The private sector can play an implementing role, but developing and implementing policies is a public responsibility.

“We are working with governments to set minimum requirements, for example in areas such as EPR (extended producer responsibility) and recycling. This is something that private companies cannot do on their own. Governments need to regulate and the private sector needs to implement,”

Schumacher stressed.