by Shane Henson — August 1, 2011—Business leaders from a cross-sector group of companies recently joined with the World Resources Institute (WRI) to announce an initiative to identify and advance breakthrough sustainability solutions for businesses. The Next Practice Collaborative (Next Practice) will focus on business and finance models for low-carbon economic growth in major markets like the United States, China, Mexico, India and Brazil.
CK Prahalad, the late business thought leader and WRI board member, coined the term “next practices” to describe business strategies that generate innovation, competitive advantage, and industry transformation by seizing opportunities in tomorrow’s markets. Next Practice is founded on that vision. Next Practice founding members are Alcoa, AkzoNobel, CEMEX, Johnson & Johnson, Siemens, Staples and United Technologies Corporation.
Participating companies will be collaborating to create new opportunities for low-carbon business innovation. CEMEX joined Next Practice to further its sustainable development work, including initiatives that engage low-income “base of the pyramid” consumers. The company is seeking to pioneer new financing models in rapidly urbanizing areas in Latin America and other developing countries that create sustainable housing at the lowest cost of acquisition and total ownership, through resilient and energy-efficient design and materials use.
Like CEMEX, other companies will draw on insights from a group of advisors to refine and advance these next practice project ideas. For WRI, Next Practice represents the next stage in the organization’s long history of working with the private sector to develop and advance innovations for practical, cost-effective business strategies for a sustainable future.
