Panel discusses corporate sustainability
Judy Tan and Daniel Neufeld, The Peak
On October 5, at SFU's Harbour Centre, SFU Net Impact held an interactive panel discussion featuring executives from Alcan, Placer Dome, Real Living Solutions, and the Aurora Institute. The question discussed: Can the corporation be sustainable?
Panelists at this event included Richard Prokopanko, director of Alcan; Jim Cooney, VP of Placer Dome; Colin Grant, president of Real Living Solutions Consultancy; and Nancy Henderson, director at-large of Aurora Institute.
In responding to the evening's question, Nancy Henderson explained, "No, corporations are inherently not sustainable by their structure. You can't have true sustainability for corporations."
Because corporations exist only to make profit, Henderson argued corporations can't help but fail to take social and environmental issues into consideration when making decisions. Corporations are, in her opinion, inherently unsustainable.
However, other panelists did not share this view. Grant explained that corporations can be sustainable if they use recyclable raw materials, make efforts in maintaining the environment, and satisfy their shareholders demands for profit.
Cooney also defended the view that corporations can become sustainable. He argued that as increased efficiency generates higher profits, corporations will inevitably be forced to become more sustainable. In Cooney's words, "Efficiency is basically another word for profit. The biggest challenge that corporations have right now is redefining the relationship of money, the value of money, and the future. "
But before this happens, Cooney acknowledged that corporations will have to find newer and more sustainable business models to replace the current models which favour short-term profits over long-term planning. Said Cooney, "Net present value does not equate with intergenerational equity."