Sustainable and eco-conscious policies are no longer viewed as a nice bonus in the corporate world. Modern organizations have to consider these things as part of their business plan to appeal to consumers and prospective employees while ensuring they fall in line with government legislation around environmental impact.
In a competitive landscape, where modern consumers are demonstrating an ever-increasing demand for eco-friendly products and services, it’s imperative businesses keep up with the times and commit to more sustainable operations. In fact, according to one survey, 66% of respondents admitted to considering sustainability when making a purchase decision. Clearly, outlining strong environmental, social, and governance (ESG) initiatives is no longer simply a case of doing the right thing – it’s now a matter of economics.
In this guide, we explore four key characteristics of any sustainable business that consumers and employees demand.
Just as prospective customers want to attach themselves to a sustainable brand that mirrors their values, businesses should look to align themselves with other companies that are making a positive impact. This has an obvious environmental benefit, but it could also facilitate more economic opportunities. Creating a network of partners that have pledged to help the planet could attract more eco-conscious customers and investors who are eager to support sustainable businesses.
Of course, in an age where sustainability is a buzzword, we must be conscious of corporate greenwashing. Businesses might claim to be doing the right thing, but under the surface aren’t making any sort of commitment to ESG. This is where it’s important to do your due diligence, to ensure the companies you choose to associate with really are aligned with your and your customers’ values. While it’s not the only measure, B Corp-certified companies have committed to meeting the highest standards in corporate social responsibility, so it’s always worth looking out for this appealing credential in prospective partners.
Even if your core product isn’t inherently eco-friendly, there are always steps you can take to improve its eco credentials. For example, think about the materials that go into creating the product. Have they been ethically and sustainably sourced, or is your product facilitating harmful mining practices? Where possible, materials should be sourced locally to reduce transport emissions; if this isn’t an option, look to partner with ethical, Fairtrade suppliers internationally.
Sustainable businesses might also look at the principles of a circular supply chain. This is where their commitment to sustainability doesn’t end with the final transaction – instead, they will address every stage of the product life cycle, and consider ways to reduce waste after the product has been used. This could include things like offering a service for customers to send the items back to manufacturers so the materials can be reused, or simply educating consumers on the best practices for recycling an item after its useful life. Committing to a circular supply chain adds an extra layer of environmental value to both businesses and customers.
When you start looking at supply chains and distribution mechanisms for opportunities to become more sustainable, it’s easy to soon become overwhelmed by the size and scale of the task at hand. While these things shouldn’t be ignored, you might want to start a little closer to home when trying to cultivate a greener business.
Shared office spaces can be massive eco offenders. But with every environmentally damaging aspect of your facility comes an opportunity to make a more positive impact on the local area. From simple switches like replacing incandescent light bulbs with energy-efficient LEDs to more large-scale renovations like upgrading the insulation, there are plenty of options to consider. Even introducing simple policies like paper recycling (or reduction) schemes – with buy-in from employees – can add up to make a huge difference over time.
In today’s corporate landscape, it’s important not to neglect remote workers when it comes to sustainable office design. To this end, businesses should make it easy for employees to recycle old devices, or offer a budget that encourages staff to make eco-friendly switches in their home office. Education is also important for remote workers when it comes to sustainability. Whether it’s sharing more information about changes to their space or just their daily working habits, educating employees on how they can work from home more sustainably will help to reduce individual carbon footprints, thus enhancing the collective eco credentials of the business.
Any business owner will tell you that the employees are the beating heart of their company. This means – to become a truly sustainable organization – your employees have to be pulling in the same direction; after all, sustainable policies and practices only make a difference if the employees commit to them.
As a business owner or manager, you can make it as simple as possible for staff members to improve the company’s carbon footprint or eco credentials, offering initiatives or schemes that encourage higher rates of investment. For example, you might look to reduce the emissions from commutes by building the infrastructure on-site that encourages more people to cycle to work, like showers, changing rooms, and secure bike storage units. If you have an on-site car park, you might look to install electric vehicle charging points to make it easier for EV drivers to commute to work, and for people to make the switch in the first place.
The eco credentials of a business shouldn’t just be the owner’s or manager’s responsibility. It’s becoming increasingly common for companies to set up an eco committee or panel of employees who can help educate teams and ensure the wider business is following the best practices when it comes to sustainability. Taking this collaborative approach is a great way to keep the company on track with ESG commitments.
In the current climate, it’s no longer an option for businesses to ignore their corporate social responsibility. They must commit to strident eco-initiatives that make a positive difference locally and in the wider community. Simple changes can often be the most effective, so start taking these positive steps and we’ll all be able to enjoy the benefits of a cleaner, greener corporate world.
Kathleen White works as an independent business analyst for several small businesses. She completed her degree in Business and Management at the University of Bristol, achieving a First-Class Honours. She enjoys writing in her spare time to share what she has learned, in hopes of benefiting other businesses.