Sample Economics Paper on Principles of Living Economies
Living economies support and emphasize business models that are natural and social sustaining by eliminating environmental threats when conducting business. Living economies are long-sustainable as they minimize the impacts of global warming. Novo Nordisk is a multi-national pharmaceutical company that is committed in its model to zero environmental impact in operations and products. Ecological safety and security by maintaining nature is a gateway to sustainable livelihoods and the planet.
Novo Nordisk has implemented a circular for zero strategies, all to make a circular economy a reality. Novo Nordisk has devised products that are renewable to curtail environmental waste. For instance, Novo Nordisk aims to manufacture insulin pens that diabetes patients can reuse (Posadas et al., 2020). Novo Nordisk also sources raw materials that are environmentally friendly to facilitate a circular supply chain. Modeling appliances in consideration of circular principles is a solution to a sustainable environment.
Novo Nordisk has shifted to fully rely on renewable electricity in all operations to eradicate environmental degradation by CO2 emissions. Novo Nordisk is a member of RE100, accounting for 100% use of renewable energy in all of Novo Nordisk’s production sites. Wind, solar, and hydro-power are sources of renewable power utilized by Novo Nordisk. Following these commitments and efforts to uphold high bioethical standards and environmental responsibility, Novo Nordisk is LEED (Leadership in Energy & Environmental Design) verified in the U.S (Posadas et al., 2020). Technology advancements that account for ecological responsibility significantly improve the environment.
Living economies are found on eliminating ecological pollutions that contribute to climate change. Novo Nordisk is making a product that can be re-purposed and made use of to minimize waste. Advocating for reliance on green energy by Novo Nordisk is core in reducing the threat of climate change. Embracing environmental responsibility by reducing environmental impacts by reducing waste and reliance on renewable energy eliminates climate change risks and threats.
Posadas, S. C., Tarquinio, L., & Rea, M. A. (2020). Political corporate social responsibility and the role of companies. Evidence from Novo Nordisk. In Sustainability and Law (pp. 239-255). Springer, Cham.