Sustainable Development

Sustainable Development

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Sustainable development is gaining a lot of attention today. Individuals and companies are keen on ensuring they remain socially and environmentally sustainable. In the energy sector, sustainability a crucial topic as the majority of players in the sector target to be more sustainable. First Solar, which is among the players in the game, is one of the global leaders in the production of energy through the use of photovoltaics. The use of photovoltaic solar panels in the production of power is eco-friendly, leading to environmental sustainability. In comparison to other energy sources, solar and wind energy are environmentally sustainable, unlike coal and other polluting energy sources. The use of solar energy is not only environmentally sustainable but also socially sustainable as it provides renewable sources of energy and contributes to the growth of society.

First Solar is facing a lot of competition from competitors due to the backing up of their governments and the falling of silicon’s prices. With solar energy proving to be eco-friendly, governments and other stakeholders are investing considerable resources to subsidize solar productions (Ravirajan, 2017). The subsidies are leading to the reduction of the prices of solar panels and also the manufacturing process. The actions of governments to subsidize the production of solar panels demonstrate their social responsibilities in ensuring eco-friendly sources of energy. However, more information should be updated in the case study regarding the production processes of solar panels.

Although solar panels are sustainable forms of energy, the production of solar panels can be sources of pollution. The standard material used in the production of solar panels is silicon which is manufactured from quartz. The manufacture of silicon emits sulfur dioxide and carbon (IV) oxide, which are pollutants. Therefore, the case study should be updated on how different companies are reducing pollutions during the manufacture of silicon.

References

Ravirajan, P. (2017). Solar energy for sustainable development in developing countries. Ceylon Journal of Science, 46(2).

Sustainable development

Sustainable development

As you are completing your case analysis, consider these questions as guidance to things you will want to consider. Do not treat these questions as a Q & A for your analysis.

What is sustainable development?

Is the oil industry a sustainable business? Why or why not?

How should one decide if a particular business is sustainable?

Is it a bank’s role to regulate a business?

What are the risks of lending to businesses some stakeholders deem unsustainable?

How does a bank decide what is a sustainable lending practice?

How should banks respond when pressured by an interest group?

What recommendations, as a corporate communications professional, would you make to RBC’s executive team? What is your rationale for your recommendations?

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