Special Topic: 2026 Sustainable Global Leaders Conference & the Second Green Industry and Sustainable Consumption Expo. The 2026 Sustainable Global Leaders Conference was held in Shanghai from October 20 to 22.
Kenneth McPhail, Dean of Manchester Business School and Fellow of the British Academy of Social Sciences, shared his views at the conference on energy transition and business opportunities. He stated that addressing global challenges requires significant transformation, and that sustainable transition is becoming a major business opportunity.
McPhail pointed out that solving global challenges involves capital flows, shifts in innovation policy, technological breakthroughs and applications, as well as strong leadership. "In this process, there will be economic winners, some companies will profit from it, and some will be defeated by such a wave. So we need leadership to help us address such challenges."
He recalled that when he began studying social and environmental assessment 30 years ago, environmental issues were regarded as a regulatory cost for companies. Today, however, the conversation has fundamentally changed 鈥?environmental transition and environmental sustainability are now viewed as very critical, core business opportunities that can help companies achieve profit growth, market expansion, and scale growth.
McPhail believes that behind this change is the increase in technology deployment and the sharp decline in the cost of renewable energy. Low-cost renewable energy will continue to drive the transformation of the business world. But he also noted that companies and other institutions remain relatively cautious, and are even reluctant to make net-zero transition commitments, worried about the cost of changing production processes, geopolitical risks, and the impact of the transition on development paths. Some business leaders believe that net-zero emission targets are too distant and not within short-term interests.
"We need to redesign today's business decision-making incentive model, whether through initial-stage incentive measures or market mechanisms to incentivize the entire business decision-making process." He said the transition is accelerating. Global investment in carbon-related technologies has increased significantly, especially after China's electric vehicle sector sparked a revolution. "This kind of innovation is increasing or accelerating competition. We believe there will be more innovation and more financing flowing into zero-carbon and low-carbon development."
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