The European SustainValue research project coordinated by VTT Technical Research Centre of Finland develops new types of tools for sustainable industrial development. According to Senior Scientist Teuvo Uusitalo of VTT, the methods and indicators used at present entail risks, since they tend to over-emphasise the economic perspective and that of individual companies.
“Methods are required that take the social and environmental impacts of business operations better into account, both within the company and among its network of partners and stakeholders,” says Uusitalo. “If a change cannot be effected, the current unsustainable way of life will continue, and we might also miss some opportunities for creating new business. Market share is at stake here.”
According to Uusitalo, other companies and customers demand that companies take a wider view of sustainable development.