Bank of sustainability: a business approach to motivate people to engage with sustainability

Abstract

Among all nation members of OECD, Australia is the highest greenhouse gas polluter. To solve this issue, Australian government has initiated some policies and incentives for the businesses to reduce their greenhouse gas emissions. However, individuals and households play a key role in greenhouse gas emissions as one fifth of Australia’s greenhouse gas emissions are coming from the Australian households. It is required to provide effective extrinsic motivation to the people to embed sustainability into their daily life. “Bank of Sustainability” is a new business concept introduced in this paper to provide such motivation for involving individuals in sustainability. Bank of sustainability provides tangible advantages to its customers for their engagement with sustainable practices leading to a major behavioural change and positive movement to a more sustainable environment and society.