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When Eban Goodstein earned his PhD in economics at the University of Michigan in 1989, sustainability had not yet entered the vocabulary of his field. He sees many approaching sustainability much as large corporations have: first by greenwashing, then by isolating the subject as an elective, then by gradually introducing it into core courses.
Currently, just 5% of businesses have assigned responsibility for setting the strategic direction on sustainability action to their organisations CFO. Instead, it falls to an array of other leaders, including the Board of Directors (25%), CEOs (21%), ChiefSustainabilityOfficers (15%) and Chief Operating Officers (10%).
The impetus for net zero following the Paris COP came from the academic community, was endorsed and framed by policymakers, and requires business model change, often radical, to be implemented by corporates. “We have to acknowledge that with the transition to net zero, finance is an enabler not really the driver.”.
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