There’s no doubt that embracing sustainability is critical for the health of our planet, but it is also important for businesses in other ways. Millennials want to work for and buy from sustainable businesses that care for the environment while also making a profit. Zero waste and renewable resource initiatives can help companies reduce spending.
With the pandemic still raging, fewer people are travelling, especially for business. Prior to the onset of Covid-19, however, plenty of brands had initiated environmentally responsible travel plans by:
- Prioritising video conferences and meetings
- Encouraging alternative transport instead of flying
- Offsetting CO2 emissions through booking websites like FlyGRN
Businesses in general are working to address CO2 emissions. Industries such as oil and gas, electricity generation, financial, and automotive are developing smart business strategies that are good for the climate and the earth as well. Named the World’s Most Sustainable Company in 2020 by the Corporate Nights Global 100 index, Denmark-based renewable energy company Ørsted is the first electricity provider to earn the distinction. In part, Ørsted completely revamped its core business model, taking it away from a coal-based operation in favour of renewable power, which included:
- Divesting in fossil fuels
- Investing in wind and solar power
- Making sure environmental sustainability is a company-wide priority
Almost all businesses need to The level playing field for almost every industry is the need to reduce waste. While many companies strive to control the amount of everyday trash they create or establish waste removal strategies, others are paying greater attention to more aggressive waste reduction programs. Almost a no-brainer, reducing waste can impact companies by:
- Saving Money
- Enhancing sustainability
- Reducing CO2 emissions
- Conserving resources
Best practices include tracking materials throughout the manufacturing process to determine where waste is created and how it can be reduced or eliminated. The old adage is, “you can’t manage what you don’t measure,” and that proves true with company waste reduction strategies. Waste prevention, recycling, and educating employees and suppliers on the company’s waste reduction efforts are impactful initiatives to the company’s waste reduction goals.
Qualifying suppliers based not only on their ability to deliver quality goods on time but their sustainability has become a best practice for sustainable businesses. Begin by getting the word out to suppliers of your own sustainability initiative and make sure they understand your goal is for them to fall in line with your objectives. Encouraging suppliers to develop environmental policies for themselves is a great way to spread sustainability throughout the chain.
Now is the time for industries of all sizes and in all sectors to assess their environmental impact and take responsibility. Whether it is reducing waste, recycling more, or traveling less, companies small and large should do their part by making changes, however insignificant. These sustainable business best practices should give some idea of where to start.