The past year was full of events that were unforeseen and had a huge impact on the way humanity functions, for successfully adapting and surviving in this rapidly changing world, it is crucial for corporations globally to start developing sustainable business practices and it appears many have finally started to take this crucial task seriously.
What is Sustainability in Business?
In simple terms, sustainability in business includes business practices that do not impact the environment in a negative manner. A green company works while keeping the interests of the community, both local and international, in mind and functions for more than just profits, it enforces practices to work towards a healthy planet and contributes positively to the world. For individuals that believe in sustainability, being socially responsible and setting an example comes before earning money.
Companies Striving for Sustainability
Many businesses have realized that, not only is it in the best interest of the world to go green, but also their own if they want to stay relevant in the future business industry. The following technological companies are striving to achieve innovative methods of becoming environmentally friendly and paving the way for a healthier planet.
- Orsted A/S
- Cisco Systems Inc
Furthermore, many clothing, makeup, and furnishing brands have also made commendable efforts to go green such as
- Seventh Generation
- Love Beauty and Planet
Benefits of Going Green
Going environmentally friendly at first has high initial costs but what most people don’t realize is that in the long term you will get back on this investment. Incorporating sustainable practices into your business improves the efficiency at which you operate and it also successfully cuts costs. For instance, you could effectively save funds if you opt for solar powered lighting or make it a rule to reuse and maximize the usability of existing materials.
Studies show that clients are more likely to choose your company’s products when they realize your company cares about its impact on the world, consumers are even willing to spend more on environmentally friendly products.
Consequences of Ignoring Sustainability
It has never been more apparent that human demand is outpacing the capacity of environmental support in the current world, this has already begun to jeopardize the ability of coming generations to meet their basic needs. On a broad scale, grave consequences of companies ignoring sustainability include climate change, acidification and desertification of land, water pollution, destruction of the ozone layer and even pushing many species to the brink of extinction. Furthermore, individual businesses that still refuse to modernize their systems will face problems such as a poor reputation in their industry, spending far too much money on individual orders, and depleting the limited resources available in the market.
Businesses and corporations hold the future in their hands and it is up to them to act responsibly and keep the needs of the planet and future generations above their own profits, many companies have begun to pave the way for a greener and healthier world and more should too.
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