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How Does Sustainability Affect Business ?

 

Many companies across the world are recognising the importance of adopting sustainability into their business strategies. Embracing sustainability can not only prep up brand awareness, but also lay down a business roadmap for the long run for an eco-friendly, self-sustained, and socially responsible existence.

 

Why Sustainability is Here to Stay

 

Why go green in the first place? Going green may look like another passing trend. However, sustainability has a variety of benefits and is here to stay.

Top Companies are Going Green

Adapting sustainable work practices is not limited to a few “eco-friendly nerds”. Corporate Giants are also adopting it. Why? That’s because corporate responsibility breeds expectations; when it comes to corporate responsibility, these companies want to show that they “walk the talk”. Plus the COVID 19 situation has been an eye-opener for everyone and our major learning from the pandemic is that the old ways will have to be mended and the new normal will need to have environmental sustainability at its core.

 

In this article, I list down a couple of big brands who have actively adapted to the new normal.

 

Nike ~ Move to Zero In 2019 Nike unveiled their “Move to Zero” sustainability plan. The program builds on its existing efforts and aims to power Nike’s facilities with 100% renewable energy and have zero carbon emissions.

 

Ikea Goes Green– This homeware retailer giant with 433 stores in 53 countries – will now source and sell only products made from renewable and recycled materials. Its worldwide reach will leave a global impact.

 

H&M Swedish fashion giant H&M is also aiming for a remarkable turnaround this year by boosting the use of recycled clothing material with a new hydrothermal recycling machine. H&M is committed to using 100% sustainable materials by 2030.

 

Wal-Mart In an October 2005 speech to all 1.6 million employees across 6,000-plus stores and their 60,000 suppliers worldwide, H. Lee Scott Jr. (CEO), announced that Wal-Mart was initiating a “business sustainability strategy.” The idea was to reduce the company’s impact on the environment through a commitment to three ambitious goals: To use 100% sustainable energy; to create zero waste and to sell products that sustain resources and the environment.

 

Some say that the sudden change was sparked off by the birth of his granddaughter; he is supposed to have become more thoughtful about the world she inherits.

 

Is sustainability only possible for large organisations? The answer is certainly NO – IT IS FOR EVERYBODY.

Why your Small Business Should Go Green Today?

As an upcoming SME, we are limited in our sustainable practices. However, we have implemented the go-green strategy in a few areas”, says Abhijit Barthur, Director of International Business at Scogen, India.

 

“We have installed rooftop solar panels that convert sun rays into electricity; this covers 90% of our energy needs. We also have an on-site sewage treatment plant where wastewater is recycled and used for gardening and irrigation. Adding to that, we have an in-house rainwater harvesting facility to ensure zero wastage of rainwater. We also have our waste-to-fuel plant where we convert plastic and other waste into usable fuel.

 

 

Apart from the above investments, we also have adopted a few simple sustainable practices into our daily operations. We are moving towards a paperless facility. Printouts are only taken for statutory purposes. We use laptops on our premises as they consume lesser power than desktops. Our entire premises are a no-smoking/no-littering zone. The street in front of our factory is dotted with trees, thanks to the consistent care taken for the past 15 years. We are also empowering our employees and stakeholders to become environmentally aware and join hands in building a greener planet and a better future”.

 

Every company, be it Big or Small needs to focus on taking action and implementing small steps also to build towards a better environment. It is becoming clear that sustainability is a megatrend that is gradually catching-on, and is here to stay!

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