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Is going green good for business? Sustainability is not just a ‘buzzword’ linked to the planet, but it is also core to the success of many organisations. The word encompasses social, economic, and environmental factors. Making your business sustainable means considering all three of these areas to create a business model that is resilient and adaptive to change.
Sustainability in business: Do my staff care?
Sustainability is no longer a trend that businesses can afford to ignore. A 2022 study, released by Consultancy UK, revealed that an overwhelming majority of British people are concerned about the topic. Of those surveyed, only 8% said they were not concerned, leaving a whopping 92% of potential employees who care about sustainability.
Small changes – such as organising bins and communicating on how to manage waste correctly, can help to build your relationship with staff. It also provides a strong yet subtle message about your commitment to sustainability. Not only will this help to reduce the amount of waste produced, but it will encourage staff to be more mindful of their everyday actions and the impact they have on the environment. Another great thing to do is to switch to a green energy supplier, and to encourage your employees to do the same at home.
According to a recent report from intranet company Unily, workers are concerned about their employers’ sustainability practices. The report revealed 83% of employees think organisations are not doing enough to tackle climate change.65% of respondents said they would be more likely to work for a company with healthy environmental policies.
Why should companies care about sustainability?
These findings suggest that workers are more aware of the environmental impact of businesses and are increasingly looking for employers who are taking steps to reduce their carbon footprint. In light of this, it’s clear that companies need to increase their commitment to sustainability to attract and retain the best talent. Sustainability in business is a clear indicator to your staff, customers and stakeholders. Make a change to make an impact.
Money and sustainability – the missing link
Alongside the obvious environmental benefits, Businesses with eco-friendly practices are likely to make more money, according to a report by Sara Mahaffy. CEOs are under more pressure than ever to implement sustainability in business decisions. This means considering the environmental and social impact of their activities, as well as the economic bottom line.
One key aspect is the lifeline of your resources. Organisations traditionally opt for a more linear approach, whereby they take raw materials, use them to create products, and dispose of them once they are no longer needed. This can put a strain on the environment, as well as the business itself, which must keep investing in new raw materials. A sustainable business, on the other hand, follows the practices of a circular economy; this is when raw materials are accumulated for the purpose of reuse and extended lifespans. Implementing a circular economy can help your business to reduce its environmental impact, save money, and become more sustainable in the long term.
By investing in energy-efficient equipment or using recycled materials, your business can reduce resource consumption and lower operating costs.
Money and sustainability – what’s the missing link? According to a study by Nielsen, 66% of global consumers are willing to pay more for products and services from those that are committed to sustainability in business.
Gone are the days when your business has to concern itself with replacing items consistently, a sustainable business in 2022 is one that focuses its money on its mission because its resources are covered through forward thinking.
Sustainability in business: Becoming environmentally aware
At Bywaters’, we understand that 8% of the United Kingdom’s carbon emissions come from waste management, that’s why we have responded with our Net Zero by 2030 plan and a fleet of electric dustcarts. Your business is a force for good in our joint effort to help the planet. There are many reasons why being eco-friendly is good for your profit margin, but the real bottom line is that it’s good for the future of our planet.
Are sustainable businesses the future?
According to reports, they are the now! Sustainability should be a key consideration for any CEO who wants to build a resilient and adaptable business model for today’s economy. Considering social, economic, and environmental factors leads to improved risk management, lower costs, increased innovation, better talent retention, and improved reputation—all of which are essential for any business looking to survive and thrive in today’s economy. Employees care about sustainability, as shown in their responses to the above surveys. And finally, sustainability in business is simply the right thing to do.
An eco-friendly model is in your best interests.
Being sustainable doesn’t have to be an all-or-nothing approach. You don’t need to wait until you have a full-blown sustainability strategy in place to make small changes that can have a big impact. Here are seven things you can do today to be a more sustainable business:
- Recycle your coffee
- Source recyclable product packaging
- Hire a reliable waste management team
- Encourage employees to carpool or take public transportation.
- Implement energy-saving measures like LED lighting.
- Support eco-friendly initiatives in your community.
- Pay attention to your staff
Small changes add up.
Click here to have your business considered by us, in your first step to becoming a sustainable giant in your industry.