The Business Roundtable, a nonprofit association made up of CEOs from major American companies, issued a statement that the primary focus of business is no longer to drive shareholder value, but to work in the interests of all stakeholders, including employees and communities. This marks the latest development in a broad trend of rethinking the purpose of business and can be seen as the coming of age for the corporate sustainability movement.
Prada Group has signed what is billed as the first business loan in the luxury goods sector linking the annual interest rate to practices that help the environment. Prada said Tuesday that the five-year, 50 million-euro ($55-million) loan with Credit Agricole Group will see interest rates lowered based on “achievement of ambitious targets related to sustainability.”
The Department of Energy reports that K-12 schools currently spend more than $6 billion a year on energy, but with the estimated potential to cut costs by 25% through smarter energy management.District leaders will be in search of ways to offset budgetary cuts and energy-efficient solutions are key.