International businesses can find solutions to global challenges

We are living in interesting times. On the one hand the world is far richer than ever, and the 7.6 billion people on the planet lead longer, healthier and perhaps more meaningful lives.

Mike Rosenberg, Associate Professor of strategic management, IESE Business School

The world, however, does face enormous challenges. These include environmental degradation and climate change, urbanization, growing inequality and geo-political stress.

These trends are impacted by the increasing pace of technological development which includes dizzying advances in digital technologies and telecommunications and also in other fields such as life sciences, advanced materials, alternative energy and the commercialization of space, to name a few.

These technologies can either make the situation worse, such as when digitalization leads to more inequality, but also offers the world opportunities to improve things.

To avoid pitfalls such as going past the 1.5º C warming target discussed by the IPCC in their latest report, leadership is needed.

The problem is that at this moment in time this leadership will not come from the United States, the European Union or even China for a number of political reasons.

Only international business has the technology, resources and reach to develop solutions on a global scale. Businesses which step forward and help build a sustainable and equitable future will be doing the right thing and also providing the highest long-term rewardsfull_stop

As published in TIME magazine