China stands at a crossroad in economic and social development. On the one hand, China is now the second largest economy in the world and has enjoyed rapid economic development over the last 30 years. At the same time, it is increasingly obvious that the current economic growth model may not be sustained in the long term - not only in China, but around the world - as it causes immense environmental and social disturbances.

The Chinese government is fully aware of these problems and it has been investing large sums into infrastructure, environmental protection and green energy. Yet, challenges brought by rapid urbanization, population growth and resource scarcity remain severe. It is therefore important to make sure that sustainable consumption is the next frontier in sustainable development in China, as it allows each individual to play a role.

Sustainable consumption aims to satisfy each individual's needs without compromising the well-being of future generations. Sustainable consumption is a shared responsibility between manufacturers and consumers. Companies alone cannot meet the challenge of sustainable consumption; this concept only works if everybody joins in.

According to a study of product life cycle, raw materials, packaging, production and distribution are estimated to account for 40 percent of the carbon footprint of the company I work for, L'Oreal. However, the single largest segment of the remaining 60 percent of the carbon footprint comes from consumer use: 58 percent of the total.  This shows that both companies and consumers have a part to play when it comes to sustainable consumption in our modern world.

Consumers everywhere need to make more informed decisions about the products they buy and move from purely price-oriented thinking to a mind-set driven by the values of sustainability.

Manufacturers need to do the same, as they can also take part in promoting this lifestyle change among consumers. From the experience of the company I work for, I believe that there are five distinct measures corporations need to take in order to promote sustainable consumption among the public.

The first one is investing in sustainable innovation. This is one of the foundations of the concept of sustainable consumption. New research paradigms and new production technology should be found that will protect the natural and social environment. We will only be able to achieve sustainable consumption with products that were created sustainably.

Secondly, corporations must respect the environment during the sourcing and production process. Companies should minimize the environmental impact in their operations.

Thirdly, businesses need to engage consumers and educate them about sustainability. Through consumer education, companies can make consumers more aware and involved, and build a positive perception of their own brand.

Fourthly, companies also need to undertake an internal education: developing sustainability champions among their own employees. Companies should promote and draw on the diversity of their employees and support them in the continuous acquisition of knowledge and expertise, especially with regards to sustainability. By investing internally into employees, corporations also invest into local communities. This generates a broader, grass-roots level movement for sustainability.

Finally, corporations must be flexible in responding to new expectations of the public. Companies should pay attention to the changing world and make sure that they meet expectations not only economically, but in social and environmental arenas too.

I believe that sustainable consumption is not a limitation on business. On the contrary, it represents a new set of potential opportunities for business in China - and everywhere else in the world - in the long run.

The author is president of L'Oreal China. bizopinion@globaltimes.com.cn

This column features the views of participants in the Global Times Leader Roundtable, a business network aimed at providing a platform where executives from leading multinational companies can share their views and insights in order to shed light on the latest social, political and economic trends affecting the Chinese market.