Should e-Commerce Be s-Commerce?

Scientific consensus says humans contribute to a warmer planet.

But pressure seems more on businesses to transform.

If human behavior is the issue, should we track our individual path to Net Zero as well as the corporate path? Will changing our behavior have a bigger impact on business to transform?

If we all put solar panels on our homes, swapped gas guzzler vehicles for electronic ones, shifted from meat to salads and bought recycled products would we make a bigger dent on our global emissions? And also accelerate business transition to Net Zero?

But what are the incentives for this and how do we track performance?

ESG scores are assigned to businesses based on their ESG performance. This can provide easier access to sustainable finance and improve market capitalization.

Why not do the same for individuals?

Capturing data from businesses on their path to Net Zero is a huge challenge. But us humans generate huge amounts of data every second - digitally.

Wouldn’t it make sense to calculate ESG scores for consumers and corporations?

Imagine every time we buy something online, we add to or detract from our personal ESG score. Imagine our ESG score improves our credit score giving us better access to financial services enabling us to buy more. By caring about the planet, we are exhibiting behavior that supports other responsibilities like honoring our financial obligations and investing in sustainable products. By helping consumers get their own ESG score, we are creating a whole new marketplace for businesses and institutions.

Imagine we are a bank attracting a new generation of consumers. We want to show our joint commitment to a better world. Let’s offer them an account that tracks their ESG performance, offers them an ESG score and rewards them for improving it.

Or a retailer building our ESG brand. We want to increase the number of customers sharing our values. Showing how we improve their ESG scores enables them to score more rewards and increase their spending power with us buying more recycled products in the process .

Now imagine we create a marketplace where ESG scores are universally recognized, and rewards can be redeemed anywhere. We create a virtuous cycle of sustainable consumption.

In the process, electronic commerce shifts to sustainable commerce. E-Commerce becomes S-Commerce, and we transform not just businesses but the entire economy.

Of course, it’s not that simple. There are major barriers to ESG transformation. Not everyone owns their own home or can afford a Tesla. Some markets are locked into long term fossil fuel commitments.

Billions of people are under-represented if at all in the digital world.

But those of us who are digitally enabled can place ourselves, our economy and the environment on a more sustainable footing faster than before.