ABSTRACT
Some 26 years after the Brundland Commission introduced the concept of sustain-
able development, it has become evident that to make any real progress toward
sustainability in a world of 7 billion people and growing, we need to address the
issue of resource consumption. This chapter discusses the challenges and oppor-
tunities for business to advance such practices in today’s market economy. The
chapter first defines sustainable consumption and examines some emerging frame-
works and studies that outline the business opportunities in sustainable consumption.
A new 6-stage framework is proposed to guide companies in their journey to
sustainable consumption. The chapter concludes with a discussion of the current
barriers and emerging drivers for business in promoting sustainable consumption.
Some of the questions explored include What does the journey toward sustainable
consumption look like? Are companies moving toward such an approach despite a
current lack of overall policy framework? What are the emerging drivers and best
practices? What are the key barriers? How are some companies overcoming these
barriers and adopting new business models for promoting sustainable consumption?
What larger-scale policies are needed to change the current market system and
promote a paradigm shift toward more conscious capitalism?
