What Does Being Sustainable Mean?
Sustainability means meeting our own needs without compromising the ability of future generations to meet their own needs. In addition to natural resources, we also need social and economic resources.
What Is A Sustainable Business?
A sustainable business, or a green business, is an enterprise that has minimal negative impact or potentially a positive effect on the global or local environment, community, society, or economy (the triple bottom line).
The Importance Of Sustainability
Many top companies have started to make the switch whether to become B Corp certified or to have more sustainable policies. As we aim for net zero and carbon neutrality, running a profit-driven business is no longer an option. The planet has reached its strict boundaries which are radically bending from its joints. The GHG emissions, extreme weather conditions, terrestrial and underwater biodiversity loss, and growing social and environmental inequalities are all results of the climate crisis. We, the growing population, are already living its negative impacts and that is why we must act now to really implement sustainability as the future of business.
As companies continue to green wash we need to start integrating sustainability into business strategy and start to communicate about it to really change the way in which real sustainability is achieved. You can read more on how & why businesses are becoming more sustainable here.
So How Does Sustainability Help Businesses?
Here’s four benefits:
1. Sustainability Help Businesses To Provide Competitive Advantage
Placing climate actions in business strategy, showing environment, social and governance impacts and communicating transparently gives you a competitive edge against competitors. A sustainable company attracts new talents, new customers and new investors because they positively affect the society.
2. Sustainability Help Businesses To Increases Their Bottom Line
Businesses who create sustainable growth will be eventually rewarded. Providing products and services that are sustainable throughout their life cycle and social aspects, attract clients who are increasingly aware of the responsible production and consumption patterns. The fact is that customers are more and more seeking sustainable products and services and companies who answer to this need are growing quicker than their unsustainable competitors.
3. Sustainability Help Businesses To Reduces Costs
All businesses look for growth but what matters is how it's achieved. Becoming more sustainable with everything means investing in equipment and innovations that optimise product manufacturing processes to save costs. One single aspect that increases costs are stranded assets, unnecessary loss and waste of materials that are composed in the production phase. By reducing or completely eliminating these waste results in increased savings.
4. Sustainability Help Businesses To Builds Employer Image And Brand
The company consists of values, goals and practices that form the working culture. A sustainable business commits in zero tolerance of discrimination, bullying, illegal practices and inequalities linked to diversity (sex, age, status, nationality and disability) as well as making no harm to the environment. It builds your image as an employer and how stakeholders see your brand. Many consumers are now operating from a sustainability mindset and increasing the pressure on brands to act, calling for greater transparency and pushing for more sustainable options.
There’s a huge benefit to becoming sustainable, especially in the UK as the government sets out to invest over 130 million pounds into growth projects to develop new clean technologies and jobs.