The Business Benefits of Sustainability

Green Business ImpactsBusinesses around the world are realizing that harmonizing business practices with environmental stewardship is not only the right thing it to do, it is also good business.

Now let's talk about the major business benefits and corporate drivers of sustainability. Whether it’s greening your supply chain, launching a new green product or service, reducing your corporate carbon footprint, developing eco-friendly office processes, or attaining LEED certification for your buildings, sustainability can help your business.

The Major Impacts of Pursuing Sustainability

Improved Efficiencies
Eliminating wastes and saving raw materials helps your business run leaner and saves you money.

Public appeal
Being a leader in implementing sustainable strategies can greatly improve your customers' perception of you business. Recent research shows consumers’ strengthening preference for brands which can demonstrate their sustainability credentials. This is also true in the business-to-business sector where procurement tenders often require details of environmental and corporate social responsibility (CSR) initiatives.

Shareholder Value
Sustainability and its alter-ego, CSR, have long fallen under the aegis of risk management. This view is changing, with investors and customers increasingly rewarding organizations which wholeheartedly embrace sustainability with superior sales and shareholder value.

Employee Recruitment and Retention
Sustainability is an aspect of corporate culture that an increasing number of prospective employees consider when sizing up possible employers.

Innovation Overdrive
Innovation can help businesses unlock the value of sustainability as a core business strategy. Sustainability must be a critical part of research and development; supply chain innovation; and go-to market strategies. Harnessed correctly, innovation can provide new strategic choices, enhance shareholder and societal involvement and goodwill, and enable the business to minimize environmental impact.

Reduce Business Risk
Reduce the business risk associated with your products or services by eliminating toxins, by-products, waste, and other undesirable outcomes.

Important Questions to Ask Your Organization

In order to identify these opportunities, every manager, researcher, and employee should ask themselves the following key questions:

  • Where can we remove material content from our products?
  • Where can our waste products be added to other processes?
  • How does the product price compare to the lifecycle cost of the product (manufacture and development, sale, operation, and disposal at the end of its life)?
  • What harmful or potentially harmful chemicals can we eliminate from our products or services?

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