Preventing the Green Swan, Sustainability Comprehensive Action Plan

Comprehensive action plan on the axis of sustainability to prevent the green swan
Comprehensive action plan on the axis of sustainability to prevent the green swan
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Paul Hayes, Environmental Sustainability Director of Cummins, an American engine and generator company that has been in operation for more than 100 years and traded on the New York Stock Exchange. EGİADwas the guest of Having the opportunity to listen firsthand about Cummins' work on sustainability, EGİADThe business world of Turkey also brought up the concept of the global scenario Green Swan, which indicates unexpected but highly destructive risks related to the climate.

Sustainability, which can be defined as the exploitation of resources, the direction of investments, the direction of technological development and the creation of change in a balanced environment where institutional change is in harmony and the potential to meet human needs and desires is preserved both today and for the future, Sustainability can be defined as good practice examples and with world companies that have come a long way in this field. EGİADIt continues to be on the agenda. World-renowned Cummins Inc. Welcoming the company officials EGİAD – Aegean Young Businessmen Association discussed all the environmental, economic and social effects of sustainability. He inspired companies that are members of the company with good practice examples.

Making the opening speech of the meeting EGİAD Chairman of the Board Alp Avni Yelkenbiçer stated that Cummins' approach to sustainability empowers a more prosperous world and is in line with its mission to make people's lives better. Pointing out that the company, which became a signatory to the UN Global Compact in 2017, is doing its part to make the world a more livable place, Yelkenbiçer said:EGİAD As an association that also signed the UN Global Compact, we encourage our members and companies. Cummins is committed to reducing its carbon footprint and using less of the earth's natural resources and doing more for nature. As part of Cummins' 2019th anniversary in 100, Chairman and CEO Tom Linebarger launched PLANET 2050, its environmental sustainability strategy. Three focus areas of the strategy, with visionary long-term goals timed to 2050; "In line with expert recommendations, reducing greenhouse gas (GHG) and air emissions, using natural resources in the most sustainable way possible, helping communities by addressing their main environmental challenges are advancing in their main goals."

If we can't do what's necessary about sustainability: how do we escape the Green Swan?

Yelkenbiçer, emphasizing the relatively new concept of the "green swan", which has been brought to the agenda of the business world, in the opening speech of the webinar, where the world-famous Cummins company's work within the scope of sustainability and its strategic plan named Planet 2050, which received many awards at the global level, were explained in detail:

“Before the pandemic, I think many people thought that climate-related problems would befall our children and even our grandchildren. But Covid 19, which the whole world is faced with and changed all paradigms, has shown us how risks can become real in an instant. In fact, the name of this phenomenon is not “climate risk”, it is officially “climate crisis” and we are exactly in the middle of this crisis. As we might suggest from its color, the green swan is a concept that reminds us of these devastating realities about climate. The global scenario, which is expressed by the concept of “Green Swan”, which indicates low-probability but high-destructive risks related to climate, should now be on the agenda of all of us. On the one hand, we must fight against the green swan scenario. Being a signatory to the Paris Climate Agreement is an important step for our country, but it is only the beginning; On the other hand, the actions to be taken to improve the global economy weakened by the COVID-19 epidemic, the cooperation to be established, and the training efforts will determine our success in the fight against the climate crisis.”

We're on the Last Exit Worldwide

Noting that the concept of the “Green Swan” emerged as a result of correct thinking, Yelkenbiçer stated that the crises we are experiencing today, such as global warming or COVID-19, when perceived and evaluated correctly, will offer us the opportunity to rethink and enlighten. Pointing out that the concept of Green Swan opens the door to a faster economic, social and environmental development, Yelkenbiçer said, “We can think of the green swan as an invitation, an entry ticket for a better world. The Green Swan represents a profound system change based on changing paradigms, values, mindsets, policies, technologies, business models and all other factors. We must focus on intergenerational equity, creating balanced, inclusive and environmentally sustainable value. “Sustainability has become the main lever of economic recovery.”

Paul Hayes, Environmental Sustainability Director of Cummins company, noted that the foundation of their company's work in the field of Sustainability, which was founded in 1919, was laid in the 1930s. Stating that profit is important for companies, but human value should not be forgotten while making profit, Hayes emphasized that this balance should be well established. Reminding that Charles, Prince of Wales of the United Kingdom, gave and awarded the Terra Carta Seal to Cummins company for their serious commitment to a sustainable future and putting nature, people and the planet at the center of their business, Hayes said, “We are active in 190 countries, we have 58 thousand employees. We produce 1.3 million engines. We have been operating for 102 years. We have traditional diesel engine manufacturing. However, we have reached the point of what should we do when there is no diesel left. At this point we went for diversity. We put power and energy questions on our agenda. We talked about the sustainability of the company as well as the sustainability of the planet. We focused on hybrid engines, electric motors and hydrogen battery systems. Let's not forget that our children need this planet. We help for a Prosperous World. We work in harmony with the UN Sustainable Development Goals. Each company can be directed towards whichever of these goals it is responsible for. We targeted ourselves to the year 2050. We evaluate and act on what the planet needs. We want communities to be better because we are there.”

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