BUSINESS 202: BUSINESS CONSULTING
FUTURE OF WORK - SEMESTER ONE, 2024
WEIGHTING: 20%
Assignment 1: Building your Profile
Submission Template
1. The title of your assignment, your full name and student ID:
Full name
Diego Bautista
Student ID
925922738
2. The URL of your LinkedIn profile:
www.linkedin.com/in/diego-bautista-2399b730a
Note: Make sure that your LinkedIn URL is visible to the public. There will be no
moderation for broken or private profile links.
3. Your reflective discussion on the topic of “The future impact of green
technology on businesses”.
[note: please ensure that this discussion is no more than 600 words]
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Integrating green technology into businesses will significantly impact the future operations and
environments of industries around the world. Regulatory changes, shareholder values, and
consumer beliefs surrounding sustainability have all tied into this push for a change, and
articles from Deloitte and PwC excellently discuss the impact of this.
Deloitte understands how multifaceted and complex the impact of climate change on business
is. It is stated that on one hand, multiple business risks arise, such as the operational problems
faced by firms when the environment changes. Also, the changes in technologies, markets and
regulation in response to these issues can create new and increased business costs, as these
companies will now be held accountable to make a contribution to a greener planet. On the
other hand, there are now business opportunities arising for businesses, who can now find
ways to more efficiently allocate resources and reduce costs, inspire innovation in their field,
and become more resilient by changing to more renewable energy sources. (Blohmke &
Coppola, 2019)
Another article from Deloitte goes into more depth about the investor side of things, and the
regulatory impacts of the move to sustainable business practises. Larry Fink, the CEO of
BlackRock, uses his 2020 annual letter to CEOs to highlight the need to confront the “new
climate reality”. His company, who manage businesses’ money, are now starting to terminate
business with any company who derives production from unsustainable practises, showing that
businesses who are not shifting towards the green technology future are being left behind, and
their short term profits will be majorly offset by the future negative externalities of their harmful
ways of operating. In addition to investor behaviours changing, regulatory frameworks and
government policies are further supporting this shift to green. The EU’s Action Plan for
Financing Sustainable Growth is an example of this, where there is now more investment in
climate-friendly activities, thereby persuading businesses to act accordingly. (Kerrigan &
Kulasooriya, 2020)
PwC’s analysis aligns with these previous articles, who emphasise the great potential of
shifting to green technology and sustainable business practises. They explain how investing in
adopting green technology leverages businesses for long-term economic gains, as they will be
more prepared to combat any market changes resulting from this changing environment. Also,
they outline a framework of collaboration amongst firms in industries, government, and
community to reduce carbon footprints and minimising climate change issues while giving more
incentive for innovation and sustainable economic growth. (PwC, 2021)
As can be seen, many of the big consulting firms are in agreement about the future impact of
green technology, and state the necessity for businesses to shift towards a more green future,
due to reasons such as fostering long-term growth, mitigating any risks, satisfying
shareholders, and ultimately saving the environment. Deloitte and PwC are examples of
powerful groups who highlight this idea, and so businesses around the world should work
towards this in order to continue to thrive.
References:
Blohmke, J., Coppola, M. (2019, December 12). Feeling the heat? Deloitte. https://
www2.deloitte.com/us/en/insights/topics/strategy/impact-and-opportunities-of-climatechange-on-business.html
Kerrigan, S., Kulasooriya, D. (2020, July 31). The Sustainability Transformation. Deloitte.
https://www2.deloitte.com/us/en/insights/topics/strategy/sustainable-transformation-inbusiness.html
PwC. (2021). Building prosperity through the energy transition. https://www.pwc.co.nz/insightsand-publications/building-prosperity/building-prosperity-through-the-energytransition.html
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