Sustainable development at a temporal crossroads: Learning from the past while focusing on the future

Abstract

Sustainable development offers the promise of economic prosperity into the future by recognizing the importance of sustaining the regenerative capacity of natural resources. Yet, current organizational practices are damaging the natural environment at such a rapid rate that economic development cannot be sustained. In response, many organizations have set targets to reduce their environmental and social impacts to past levels, aiming to restore historical baselines. While learning from the past is essential, we illustrate that an exclusive focus on the past for future actions can actually hamper progress toward sustainability. Instead, we advocate for a future-focused approach that inspires innovative new practices, with specific recommendations for business scholarship.