The global business environment is confronted with an unprecedented confluence of environmental, social, and economic challenges that demand a fundamental rethinking of traditional practices and value creation methods. These complexities, often referred to as a “polycrisis,” encompass interconnected disruptions including climate change, social inequality, and economic instability. To address these multifaceted issues, businesses must move beyond conventional corporate responsibility models and embrace transformative approaches that prioritize sustainability at their core. EY’s New Economy Unit (NEU), operating within the firm’s Global Climate Change and Sustainability Services (CCaSS) practice, exemplifies such efforts by advocating for a regenerative and sustainable economic paradigm. By integrating multicapital accounting, leveraging emerging technologies, and redefining business models through circular economy principles, EY offers a roadmap toward resilient and equitable growth that aligns with the planet’s finite resources.
EY’s New Economy concept is a direct response to the failures of traditional economic models that tend to externalize social and environmental costs. Instead of viewing these impacts as peripheral or secondary concerns, the NEU framework embeds them into core decision-making through multicapital accounting. This approach expands beyond the narrow focus on financial capital, evaluating natural, social, human, and intellectual capitals alongside monetary metrics. This comprehensive valuation system enables companies to assess long-term value creation with sustainability as a guiding principle rather than short-term profit maximization. In doing so, businesses are empowered to pursue strategies that replenish resources and generate shared economic prosperity, which marks a shift from sustainability “as usual” to regenerative economics.
Central to this transformation is the adoption of circular economy practices that aim to minimize waste and maximize resource reuse. Leveraging systems thinking, EY emphasizes that no business operates in isolation; every decision reverberates through interdependent ecosystems involving multiple stakeholders. Inclusivity in stakeholder engagement becomes critical, ensuring diverse perspectives shape policies that drive innovation for regeneration. Five guiding principles underscore this philosophy: systems thinking, stakeholder inclusivity, innovation for regeneration, data transparency, and cross-sector collaboration. These pillars help companies navigate the complexity of sustainability challenges while fostering adaptive and resilient operations.
Technology stands as a powerful enabler in this sustainable transformation journey. EY’s research highlights emerging technologies such as 5G connectivity, the Internet of Things (IoT), blockchain, and artificial intelligence (AI) as catalysts for advancing sustainability agendas. For instance, 5G and IoT facilitate real-time data collection and analysis, enabling companies to optimize resource use, reduce emissions, and enhance efficiency. Blockchain technology lends credibility and transparency to supply chains, ensuring practices such as sustainable sourcing and regulatory compliance are reliably verified. AI platforms like EY.ai demonstrate how integrating digital ecosystems can transform decision-making processes, embedding accountability and fostering innovation within organizations. By harnessing these technologies, businesses gain agility and foresight needed to adapt to shifting environmental and socioeconomic conditions.
EY’s own digital integration journey offers a tangible example of technology-enabled sustainability. The firm’s unified AI platform represents a commitment not only to internal transformation but also to modeling the systemic changes required across the broader economy. This digital infrastructure supports clients in their own transitions by providing data-driven insights and innovative tools that align operational objectives with sustainable outcomes. Such initiatives reflect a deepening of corporate purpose where technology and sustainability coalesce to create regenerative value.
In parallel with technological advancements, revising business models to incorporate circular economy strategies and climate action planning is vital. Rising global energy demands challenge companies but also spur innovation in renewable energy deployment and energy efficiency measures. EY stresses that sustainability must shift from being an adjunct concern to becoming integral within business strategy. Embedding environmental, social, and governance (ESG) criteria into core operations and transparent reporting mechanisms ensures companies remain resilient and relevant amid rapid change. This holistic integration enables organizations to anticipate risks, capitalize on new opportunities, and meet growing expectations from investors, regulators, and consumers alike.
Beyond individual enterprises, EY actively seeks to influence wider sustainability ecosystems through initiatives such as the “Face of the Future” campaign focused on the human-centric role of AI and sustainability convergence. Survey research conducted by EY Sweden shines light on corporate engagement with the United Nations Sustainable Development Goals (SDGs), identifying drivers of change, barriers, and evolving practices shaping the corporate sustainability landscape. These efforts reveal a growing awareness that sustainable transformation requires collective action and alignment across sectors, geographies, and stakeholder groups.
Taken together, EY’s vision embodies a fundamental recalibration of how businesses think and operate amid the global polycrisis. Multicapital accounting reframes value creation to include social and environmental dimensions; emerging technologies accelerate innovation and transparency; circular economy principles promote regeneration and long-term viability. This integrated approach offers a viable path toward an economic future that is resilient, equitable, and prosperous for both society and the planet. The New Economy Unit leads the charge by providing rigorous research, pragmatic guidance, and actionable insights that enable companies to embed sustainability in the very foundation of their growth strategies, moving beyond superficial efforts to a transformative new normal.
In essence, adapting to the intertwined crises facing the world today demands comprehensive shifts in corporate mindset and practice. EY’s comprehensive framework articulates how such a transformation can occur—through systems thinking, inclusive collaboration, technological leverage, and regenerative economic design—charting a course toward a sustainable economy where business success and planetary health are inseparable. This promises not just a survival strategy, but an opportunity to rebuild a more balanced and thriving global economic order.
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