Why Implement Sustainability into Your Business
Good intentions are not enough.
There is pressure from the media, from the consumers, from the employees, and most of all, from the environment itself.
But what are the actual benefits of implementing sustainability as a company?
Do the benefits outweigh the actual costs?
Implementing sustainability in a company’s business strategy has become crucial for accomplishing Agenda 2030.
However, it can be hard to stay positive when the only news being addressed among environmental issues, climate change, and the state of the world largely sounds depressing.
In many cases, the Sustainable Development Goals are looked at as indicators of what humanity is failing at.
But do not go down the rabbit hole.
Instead, look at them as guides towards an innovative and better future instead.
Consumers today are willing and choosing to pay extra for alternative, sustainable products.
Employees are giving more and more weight to their own values.
If a company cannot provide those, their short-term solutions will have long-term consequences.
I’m talking about a loss of workforce and talent or a decrease in revenue.
Therefore, it is critical for companies to know exactly what they are undertaking rather than just doing it for the sake of it.
Just because you think you are doing enough doesn’t mean others can’t see right through your approach.
Do not be superficial.
Being great on paper does not make you great in the real world.
Research shows that out of 67% of the companies that focus on one or more SDGs, 64% do not have a strategic plan that outlines how to operate with the supposedly implemented goals.
Think about it.
Is it worth the while, though?
Is spending all this time, money, and energy on building a sustainable strategy really going to benefit your company?
Why should you invest in sustainability in a more strategic way when other companies are not bothering to?
Here are some of the benefits you should consider when choosing to become more sustainable as a company:
- Improved brand image and competitive advantage
It’s getting progressively more difficult to penetrate the market nowadays with the amount of innovation being executed.
However, by choosing to become more sustainable, a company in any industry can gain a significant competitive advantage.
People have finally realized that they have to take responsibility for their choices, just as companies should take responsibility for their footprint.
Business is not only about providing the best product on the market anymore.
It’s about saving the planet while doing so — a magnet for business opportunities.
2. Reduced costs
It’s often discussed how becoming more sustainable leads to more expenses.
Many companies claim not to be financially able to move in that direction.
While that is not a lie, sustainable investments do generally require a higher outlay, they are deliberately more beneficial in the long run.
Introducing sustainable business practices might be expensive to implement initially.
But the results will definitely provide justification for the investments.
3. Regulation compliance
It’s no surprise that the government is introducing and empowering regulations to protect the environment to a great extent.
That’s why being a sustainable company puts you in a position to easily meet changing requirements at any time.
4. Attraction of employees and investors
People like to be associated with positive, sustainable practices that make the world a better place.
It makes them feel good about themselves, and it looks even better on their profiles.
Employees should be given the power to use their knowledge to their highest potential for the company to reach department unity.
If a company can provide a respectful and genuinely worthwhile environment that aligns with its employees’ needs and values, it can only lead to increased productivity, a household name, a lot of applications, and hopefully investors excited to support.
5. Happy shareholders
By improving your business, you are improving your sales.
And your sales should be increasing even when costs are decreasing.
Even though it may not be easy, by showing enough commitment, motivation, and dedication, you will make the consumers happy, the employees happier, and the shareholders happiest.
It’s not easy to align the sustainable strategy with the business strategy itself.
But doing so can visibly profit an organization in terms of being more organized and focused on the bigger picture without falling into the trap of being labeled as greenwashing.
Once sustainability becomes part of the business, it becomes one less thing to worry about.
As soon as a company is successfully working strategically with the SDGs, it can only adapt, do more, and do better from there.
Progress is guaranteed.
6. A better world
If all the benefits mentioned so far, for some reason, still don’t sound convincing enough, remember that you and your corporation are actually saving the world.
You are not just claiming it.
You are doing it.
It’s not everyone’s job to save every part of the world.
But it is everyone’s responsibility to start somewhere, keep going, and include as many people as possible in the process.
Developing new products, implementing new business models, using circular ideas, and leasing models while greatly reducing the negative footprint can be an amazing journey.
And all of us, along with the world, think that is reason enough to start now and do it the right way.
In conclusion, implementing sustainability in your business brings numerous benefits that outweigh the costs.
By embracing sustainability, you can enhance your brand image, gain a competitive advantage, and attract conscious consumers who are willing to pay more for sustainable products.
Remember, taking steps towards sustainability is not just about claiming, but actually making a difference and saving the planet.
It’s a responsibility we all share, and the benefits of sustainability make it a worthwhile endeavor for any business.
Thanks for reading until the end! I hope there was something useful in it for you. Enjoyed my article? Recommend me by clicking the clap icon below, and feel free to leave constructive criticism or your own opinion on the topic.
